OBOS Tokenomics (Polygon)
Last updated
Last updated
In addition to the above, a dynamic amount of OBOS is also minted to the Dev address at a rate of 9.09%. This means that if 100 OBOS are harvested, then 9.09 OBOS is minted in addition and sent to the Dev Address.
All OBOS minted to the Dev address is burned in the weekly burn and never enters circulation.
As such, we haven't included it in the above emission rate.
The burning process is currently manual. View burn transactions here.
As well as the above, OBOS is also burned in the following ways:
0.03% of every trade made on Oboswap
100% of OBOS sent to the Dev address
To hit the ground running, Oboswap launched as an MVP (minimum viable product) with the MasterChef contract emitting 100 OBOS per block. For that reason, the early team didn't add additional functions such as the ability to customize the OBOS minting logic. As migrating to a new MasterChef would require a lot of time and effort, the team opted to reduce OBOS emissions instead through a manual burn process by creating pool:
Burn Pool (PID - 4) - burned OBOS per block
These pools work similarly to the farms, where the Chefs can adjust the percentage of the 100 OBOS per block allocated to it after each OBOS emission reduction vote.
On the day of the burn, the supply shown on the homepage might suddenly jump by several million OBOS .
Don't worry - THIS OBO NEVER ACTUALLY ENTERS CIRCULATION:
This apparent jump is just because of how all the OBOS that's allocated for the burn is stored during the week.
The OBOS sent to both pools PID-4 are harvested before completing the weekly token burns, and this makes the Total Supply shown on the site jumping. This is because pending OBOS isn’t registered in the Total Supply until it's harvested on the burn day. Once the token burn transaction is completed, the value is shown in the Burned to Date.
To confirm that the circulating OBOS supply shown on the Oboswap homepage is correct,
Head to the OBOS token contract on Polygon and see how much OBOS is held by the Burn Address. That's the total amount of OBOS that's been burned (removed from circulation FOREVER, and impossible to ever retrieve).
Then, subtract this burned amount from the "Total Supply" that Explorer shows.
This gives you the actual OBOS supply.
