#数字资产市场动态 A major event has recently taken place at a leading DEX — they directly burned 100 million governance tokens, with a book value approaching $600 million. This is not just a slogan; it’s a real action executed after governance voting, and simultaneously, the protocol fee distribution mechanism for V2 and V3 liquidity pools has been activated. Honestly, this move is quite clever in design. Burning tokens reduces circulation → making tokens more scarce, protocol fees → providing real dividends to token holders, combining two powerful strategies. The most core transformation is that this project has upgraded from a simple decentralized infrastructure to a true value capture system — no longer just considering liquidity providers’ feelings, but directly creating returns for token holders.

Timing is critical. The U.S. Securities and Exchange Commission has just concluded a four-year review, and ultimately, no major issues were found, effectively giving the project official compliance approval. From a technical perspective, this dual engine of deflation + dividends is quite rare in the decentralized finance space — most projects either choose to burn tokens or implement fee sharing, but few dare to do both. For those planning long-term holdings, it may be time to reassess the actual valuation of the token.