Is there any way of checking whether the buy back and burn policy approved as proposal #3 is being correctly implemented?
By my maths Tinyman has had >$5m of volume pretty much every day this year (some days much more, currently $13m over last 24hrs).
Using an average price of around 0.054 USD to TINY, one would have expected at least 185k of TINY to have been burned (5m * 0.0001 * 20 days / 0.054). This is a low estimate given the volumes have been more than $5m a day on average.
But only 116k have been burned so far? How do we explain the discrepancy?
There were a few glitches in the process so it hadn’t burned the full amount to-date. It should be approximately correct now (200k TINY burned). We’ll ensure it is correct by the end of the month and publish a report of the monthly fees and burns each month.
Hey, so let’s burn those TINY tokens in the reserve address, lol! I even sent a bit more to the address to show you that no one else is sending TINY in there like you said they would @Atilla, it’s been more than 3 months since!
