7,368,745 ORN (~$45m) to be permanently removed from supply

Earlier this month, Orion Protocol announced the beginning of its gradual transition towards becoming a DAO, a decentralized autonomous organization. ORN holders will increasingly govern Orion Protocol, deciding on and creating new governance proposals that determine the next steps and future of Orion via real-time voting by stakers.

Orion’s first governance vote was centered around the removal of the DYCO Bonus from circulation to reduce supply by 6,900,000 ORN - almost 7% of total supply. A resounding 81% voted in favor of removing these tokens from supply.

Alongside 468,745 ORN committed from Orion SolarFlare IDOs, this 6,900,000 ORN will be permanently removed from supply tonight at 11.59pm ET.

In total, 7,368,745 ORN (7.36%) will be permanently removed from supply. You can track ORN’s circulating supply and supply removal here.

In line with Orion Protocol’s increased focus on creating value for the community, including via enabling a healthy secondary market, the Orion Protocol team has committed to delaying both Team and Advisor unlocks for an additional year until the end of 2022. Orion Protocol’s vesting schedule for remaining token unlocks can be found below, and will follow the ‘gradual release schedule’ of the private sale vesting.

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