Venice AI Tokenomics Update: Introducing Buyback and Burn Mechanism, Increasing DIEM Supply Cap

BlockBeats News, July 18th, Venice AI announced an update to its tokenomics, with the following two main updates:

Added Programmatic Burn: Moving forward, for every $100 worth of API credit purchased, $5 will be used to buy back and permanently burn VVV on the open market.

DIEM Supply Target First Increase: Starting from 38,000, the target will gradually increase to 40,000 (an addition of 2,000), to be implemented in stages, with the highest target expected to be reached on September 14th.