Sky said in a post on X that it has completed its second token burn, with 7.37 million SKY removed in this round. The project said the latest burn was about 2.6 times the size of its first burn. Under the Sky Stage 2 capital allocation framework, the protocol allocates 5% of its monthly net surplus to buy back and burn SKY tokens. The update outlines the mechanism currently used for token repurchases and supply reduction.
Sky said in a post on X that it has completed its second token burn, removing 7.37 million SKY in the latest round. The project said this burn was about 2.6 times the size of the first one.
Under the Sky Stage 2 capital allocation framework, Sky allocates 5% of the protocol’s monthly net surplus to buy back and burn SKY tokens.
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