One of the Biggest Token Burns in History – Proof the MetFi is for the Community

by | Aug 6, 2022 | MetFi Updates

MetFi Burns all of the MFI Tokens Staked with the DAO “Humpback” NFT.

Announcement made on the official MetFi Telegram Group.

BURN ANNOUNCEMENT

MetFi DAO has completed one of the largest token burns in crypto history today… exactly 8 weeks after launching.

The DAO burned $789 Million of MFI which is 100% of the MFI tokens that were staked to the DAO Humpback NFT.

This is the burn contract that was created: https://bscscan.com/tx/0x154849e0286264d13650fde8cb6d047a9fa16c396212b4d3b20ba75856415bbf

TheBurn() function was then called and it removed all of the MFI tokens from the DAO staking account and the staking manager then burned the MFI tokens. The contract then self-destructed.

You can see the transactions here: https://bscscan.com/tx/0x4013d060095296294a53f573d722a7a4b1f0ad0aa6a82246fb4860946d16d20f

MFI Tokens Burned: 158,550.334560489426228707 (158,550)
Value of Tokens Burned: $789,377,721

Go to My Account inside the app to see the updated MFI breakdown.

Total Supply (MFI): 6,165
Staked by DAO: 0
Total Market Cap: $30,796,265

CMC and other MFI trackers should update the supply shortly.

The DAO NFT no longer generates new MFI via APY and it cannot influence voting proposals. The burn gives the crypto market the real token supply and our market cap.
This burn moves us one big step closer towards total decentralization of the MetFi ecosystem.

Thank you for your trust and on-going support during our first 8 weeks.

It is very much appreciated and never taken for granted.

MetFi was built for you and for the long-term.

You really haven’t seen anything yet.

Happy SaturBurnDay MetFiers!

[dssb_sharing_buttons icon_placement_tablet=”icon” icon_placement_phone=”icon” icon_placement_last_edited=”on|tablet” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][dssb_sharing_button _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][/dssb_sharing_button][dssb_sharing_button social_network=”twitter” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][/dssb_sharing_button][dssb_sharing_button social_network=”whatsapp” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][/dssb_sharing_button][dssb_sharing_button social_network=”telegram” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][/dssb_sharing_button][dssb_sharing_button social_network=”pinterest” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][/dssb_sharing_button][dssb_sharing_button social_network=”email” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][/dssb_sharing_button][dssb_sharing_button social_network=”copy” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][/dssb_sharing_button][dssb_sharing_button social_network=”print” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][/dssb_sharing_button][/dssb_sharing_buttons]