Simple Summary:

Burn 250MM token from the multisig treasury reducing the total supply of $Armor by ~25% to 750MM

Aim:

Improve the tokenomics of the governance token, provide peace of mind to our current holders, and generate marketing buzz about Armor.

Motivation: After review of the total treasury value, the team believed that there is an unnecessary amount of $Armor tokens allocated to the following:

• Payout of Development Grants
• Education programs
• Future Team members
• Future DAO funding

After discussion on the forums, it is proposed to do a single burn, totaling 250MM tokens in the Armor Treasury. The belief is that this will:

• Improve tokenomics
• Be used as a marketing tool to advertise the protocol
• Improve peace of mind for current users

Overview: These are the current allocations to each program in the treasury:

• Payout development grants – 120MM allocated.
• Education programs – 60MM allocated.
• Future team members/partners – 162MM allocated, ~30MM has been disbursed so far (132MM remaining).
• Future DAO funding – 175MM allocated.

Cutting each allocation by 50% with an additional 5,773,200 from team funding would lead to a total of 249,273,200 $Armor. The new allocations in the treasury being:

• Payout development grants – 60MM allocated
• Education programs – 30MM allocated
• Future team members/partners – 60,226,800 allocated
• Future DAO funding – 87.5MM allocated

The 249,273,200 $Armor would then be sent to address 0x000000000000000000000000000000000000dEaD, functionally “burning” the tokens from the supply. This amount, added to the previously 726800 $Armor burned from our previous social burns will equal exactly 250MM $Armor burned and a new total supply of 750MM $Armor.