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The Sanctum – Economics
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  • $RUNES
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    • 🔥Burning Mechanism
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  1. $RUNES

Burning Mechanism

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Last updated 2 years ago

  • ‘Swap’ burn: Each collection/drop will offer a burning feature, where a holder will be able to burn an NFT they already possess in order to create one from the new collection. Some randomness will be included in the ‘Swap’ feature to make it fun and appealing, but in any case, the rarity of the newly minted NFT will always be at least equal to the burnt one.

  • NFT to $RUNES burn: a holder will be able to burn an NFT he already possesses for an amount in $RUNES based on rarity

NRunes = Total amount of $RUNES remaining to be distributedNCollectionRemaining = Number of NFTs left in the collection (not burnt yet) RarityFactor = Rarity Factor (maximum = 1)

Ex: If $RUNES 30,000,000 remain to be distributed , 8,000 NFTs remain in the collection and someone wants to burn an NFT with a RarityFactor of 0.5, them the equivalent $RUNES amount will be :

This formula and all its parameters will ultimately be decided by the DAO.

  • A queue mechanism will also be implemented allowing a maximum amount of NFTs to be burnt per day (start = 1). The set amount will also be left to the DAO to amend over time.

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