Buy & Burn Program

The Buy & Burn is a program where fees are collected and used to purchase $FIDA. After the purchase has occurred, the $FIDA bought will be burned and therefore removed from the circulating supply

The Buy and Burn program has been set up to help stimulate healthier tokenomics by participating in balancing demand and supply

FIDA buys and burns are decentralized and permissionless. All fees are collected by a pool that can only do two things: buy $FIDA and burn $FIDA

Close to 100% of the fees generated from the Solana Naming Service registrations go to $FIDA buys and burns

Buy & Burn occurs at the end of every day at a specific time. Burns are twapped. Therefore, there is a maximum amount that can be burned daily.

Token burning forms part of the $FIDA utility. For more information on $FIDA utility please see the section under $FIDA Supply