LavaX Labs Token Burn #2 Proposal

We’re happy to announce that our first token burn proposal passed and was implemented on December 1st!

We are bringing forth to our community another token burn proposal.

Starting in January, we will be releasing a new staking program. Users will be able to stake their $lavax tokens with a 90-day lock-up period and an increased APY (20% as opposed to the current 10%).

Once the 90-day lock-up period is over, we will burn the equivalent amount of tokens that were staked. For example, if there are 2 million $lavax tokens staked, we will burn 2 million $lavax tokens (the maximum amount of tokens we will burn is 3 million)

As always, $lavax token holders are the ones who get to vote on this proposal.

Please join our Discord server here

Once you’ve joined the server, you can connect to our token holder-only channel via Collabland and cast your vote!

The vote for the burn proposal will be live on Thursday, December 8th at 3pm EST!