# THOR Burn

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On Nov-19-2024 04:17:47 AM UTC **104,694,021 $THOR** was burned from the remaining community incentive allocating, executing [TIP-15 Proposal](https://snapshot.org/#/s:thorswapcommunity.eth/proposal/0xa536ab41eab9914fec9951c080a59a3c9c9b538745049bd60f8e0bdc19e089b3). 

This concludes the entire allocated Community Incentives Pool, ending all $THOR Emissions.
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## [**\[TIP-001\] Community Incentives Burn**](https://snapshot.org/#/thorswapcommunity.eth/proposal/0xae432c9aad2c033b9ad201db869767c02f99acc6db6f90cdb340978848be1a48)

On April 23, 2023. THORSwap Improvement Proposal [**\[TIP-001\] Community Incentives Burn**](https://snapshot.org/#/thorswapcommunity.eth/proposal/0xae432c9aad2c033b9ad201db869767c02f99acc6db6f90cdb340978848be1a48) passed in majority favour (99.53%) to begin a token burn of non-circulating supply from Community Incentives Allocation, consisting of:

1. Initial burn of 30M $THOR from Community Incentives allocation (this more than offset all Staking Pool emissions up to that point (\~27M).
2. For 3 months, at the conclusion of each month, burn 3 times the emitted tokens during that month IF THORSwap’s trading volume surpasses the monthly volume target of 8M $RUNE.

***

##  [\[TIP-003\] Continuation of Monthly Volume Target Based Burn](https://snapshot.org/#/thorswapcommunity.eth/proposal/0x9c1927ad552e26606a6a5f025c47c0d842e9dcd7f936e007f207e51417390e22)

On Aug 3, 2023, this was further amended in [\[TIP-003\] Continuation of Monthly Volume Target Based Burn](https://snapshot.org/#/thorswapcommunity.eth/proposal/0x9c1927ad552e26606a6a5f025c47c0d842e9dcd7f936e007f207e51417390e22) where voting passed in favour to:

1. Continue burning 3 times the emitted tokens from the Community Incentives pool IF THORSwap’s trading volume surpasses the volume target for that month.
2.  **Implement a sliding monthly volume target starting in August 2023:**
   * If the volume target is reached, the following month's target increases by 1M RUNE
   * If the volume target is NOT reached, next month's target decreases by 1M RUNE
3. Enable a burn multiplier on top of the monthly burn based on volume % above the target. Where each +1% volume is equal to an additional 1% bonus after 3x Emissions up to a hard cap of 300% multiplier.

<figure><img src="https://23456556-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MdJ6lwbaGJ2kGz5h8Fz%2Fuploads%2F8IfaTTa6wOl6nCQqpuPn%2Fimage.png?alt=media&#x26;token=cdc83d08-098d-4398-801f-26d577779305" alt=""><figcaption></figcaption></figure>

***

## [\[TIP-007\] Amend Monthly $THOR BURN logic](https://snapshot.org/#/thorswapcommunity.eth/proposal/0x0180eb3bbcace663bf6a4ca09cae5437b61f9f5eb74b7105315f1286501be236)

On February 15, 2024, $THOR burn was again amended by community approval of [\[TIP-007\] Amend Monthly $THOR BURN logic](https://snapshot.org/#/thorswapcommunity.eth/proposal/0x0180eb3bbcace663bf6a4ca09cae5437b61f9f5eb74b7105315f1286501be236) to:

1. Change monthly target denomination from $RUNE to US Dollar value
2. &#x20;**Change sliding volume target mechanism to:**
   * If the volume target is reached, *increase* by 5% following month.
   * If the volume target is NOT reached, *decrease* by 5% following month.
3. Remove the 300% multiplier hard cap.

***

## [\[TIP-012\] Amendment to Monthly Target-based Burn: Remove 3x Emissions](https://snapshot.org/#/thorswapcommunity.eth/proposal/0x6eda5bf24c30d9b792cdab5c3b1fb931ec5f0738de463f23f42c14a0a613abe7)

On August 18, 2024, $THOR burn was amended by community approval of \[TIP-012] to **Remove the base 3x Emissions from burn calculations (if monthly volume $ target is met)**

This took effect for the first time for the August, 2024 Monthly burn.

***

## $THOR Burn Record

[\[Burn #1\] April-28-2023](https://etherscan.io/tx/0xfe51f4502c49e0dfb426fd8458e690616b7f84201e591e48cc9511408f854c2e): Initial 30,000,000 $THOR Burned

[\[Burn #2\] July-03-2023](https://etherscan.io/tx/0x46818879ec8a42a381666a7bb8666a277a8ed9096dc94afd2f48601ea0af6087): 2,558,928 $THOR Burned (3X emissions for June)

[\[Burn #3\] August-06-2023](https://etherscan.io/tx/0x0686809688d484d4addf0ae227a57650bf5e06e3c44e2b0ef9fe29c71d65b303): 2,651,088 $THOR Burned (3X emissions for July)

[\[Burn #4\] September-08-2023](https://etherscan.io/tx/0x8a8c0e0d05e94c23886ab315d20b66d4c730491f0e395f6ea13283cd0ee90dd0): 7,975,944 $THOR Burned (3X August emissions \* 3x Multiplier)

[\[Burn #5\] October-04-2023](https://etherscan.io/tx/0xd1d6533ec26452f1d2c3d3a2cabceadfa0937690ee78561fbe1c1c4c3eb2bbd9): 4,878,675 $THOR Burned (3X September emissions \* 1.9x Multiplier)

[\[Burn #6\] November-03-2023](https://etherscan.io/tx/0x6d0294b30ec6f6542ec62ac504a179044c17349edf6d25634eeffea04920f38f): 7,836,573 $THOR Burned (3X October emissions \* 3x Multiplier)

[\[Burn #7\] December-08-2023](https://etherscan.io/tx/0xe0c99657708a485532a7c73d3faa80a08cfd4a9b1bd31d0cbe9e2066b5e55895): 5,760,599 $THOR Burned (3X November emissions \* 2.23x Multiplier)

[\[Burn #8\] January-02-2024](https://etherscan.io/tx/0xcc68aba071f41bef65398b502bb08aa5915ee9c813367e86c9884cfc6ab9aabc): 2,811,680 $THOR Burned (3X December emissions \* 1.06x Multiplier)

[\[Burn #9\] February-02-2024](https://etherscan.io/tx/0x1867858511e6c80541e41dae162e2806624123e56eeab08c773acc7f466555b7): 4,349,162 $THOR Burned (3X January emissions \* 1.64x Multiplier)

[\[Burn #10\] April-02-2024](https://etherscan.io/tx/0xcccab313838ed33fd5476f03660d4b51138d9d530ecaedff9f9dfa4ae64a5558): 8,058,465 $THOR Burned (3X March emissions \* 3.04x Multiplier)

[\[Burn #11\] May-03-2024](https://etherscan.io/tx/0x8da8744a8e56e12d99f7d33934aa5ba5eccea515e3ae9176691c717fe5697635): 7,755,274 $THOR Burned (3X April emissions \* 3.03x Multiplier)

[\[Burn #12\] June-12-2024](https://etherscan.io/tx/0x1c640d3b7b632f8226d2900bf2ddafa63c7c9a9f15684c93e7604a6ed3f07f76): 4,678,713 $THOR Burned (3X May emissions \* 1.75x Multiplier)

[\[Burn #13\] July-12-2024](https://etherscan.io/tx/0x353e5e251b307a6b9802dfac05cc5ed5d3549f432fb10ff4282a3d89ff0270d1): 9,070,835 $THOR Burned (3X June emissions \* 3.52x Multiplier)

[\[Burn #14\] August-06-2024](https://etherscan.io/tx/0x78764f70e79c6cd640d674a69a9eaadf768f49b2fa09a99862cf5fbf0fdacc28): 7,164,993 $THOR Burned (3X July emissions \* 2.69x Multiplier)

[\[Burn #15\] September-06-2024](https://etherscan.io/tx/0x63ffb40d9c7272d03e5f5ff81ed9c5a2201a978bab14456f7390ea2b7deb35c7): 3,172,983 $THOR Burned (August emissions \* 3.57x Multiplier)

Progress & $THOR distribution can be tracked here on the [$THOR Dashboard](https://thorcharts.org/thorswap_dashboard).