The Cardano Ecosystem anetaBTC community proposes to cancel the BTC Fund to reduce the total supply of cNETA/NETA by 30%

Cardano's eco-encapsulated Bitcoin anetaBTC posted on the X platform that the community has launched a proposal to reduce the total supply of cNETA/NETA tokens by 30% by canceling the BTC Fund. Governance voting is scheduled to begin on October 25. In Tokenomics V3, the team proposed the concept of BTC Fund and allocated 30% of tokens to it to promote the conversion of cNETA/NETA into BTC, with the purpose of benefiting this community fund. However, the team now believes that the selling pressure exerted by the BTC Fund on cNETA will exceed the potential benefits that its acquisition of BTC may bring, and therefore recommends canceling this fund. Shortly after the third governance vote, the team plans to begin a fourth vote; the vote concerns the transition from a buyback model to a staking model, in which stakers receive cBTC protocol revenue and assets from the NETA Liquidity Fund.