FLARE
  • Flare: The OFT Hyper-Deflationary Protocol on TitanX
  • Flare Minting and Auction Process
  • Mint Allocation and Ratio
  • Liquidity Pool Creation
  • Daily Auction Pool Mechanics
  • Buy & Burn Mechanics
  • Buy/Sell Tax
  • Conclusion
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Buy & Burn Mechanics

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Last updated 4 months ago

Overview: Flare’s Buy & Burn mechanics use a decentralized system to continually reduce supply. Each day has a dedicated percentage of X28 allocated to burn both Flare and TitanX, following a daily schedule.

Buy & Burn Schedule:

  • Sunday to Wednesday: 4% of total X28 per day.

  • Thursday: 10% of total X28.

  • Friday and Saturday: 15% of total X28 per day.

Process:

  1. Intervals: Buy and burn transactions occur as time and value cap buy and burn intervals every 7.5 minutes, creating 192 intervals daily.

  2. Accumulated Buys: If an interval is missed, the amount is doubled for the next interval. Any unused TitanX rolls over to the following week.