#Ethereum is widely known as Digital Oil just as #Bitcoin is known as Digital Gold. 2% of each transaction is burned making $DOIL a deflationary asset.
Digital Oil (powered by Robinhood)
Ethereum is widely considered digital oil due to its native token acting as the essential fuel required to power transactions, smart contracts, and decentralized applications on its network.
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Diesel just hit a new all time high and not in a good way.
Oil is getting to be more valuable than gold.
Digital Oil is paired with the United States Oil Fund - ($USO) and burns supply every 15 minutes based on volume.
Almost 5% $DOIL has been burned.
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All Digital Oil volume generates funds to be used for the buyback and burn protocol. Buys and sells.
The #ETH is swapped to $USO and used to purchase $DOIL and then burn it; forever removing it from circulating supply.
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Digital Oil is scheduled to buyback and burn supply every 15 minutes.
The current cycle was overdue; the protocol needed to be reset.
It just triggered and brings the total amount burned to just under 3%! π₯
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DIGITAL OIL - The Lore:
Ethereum is widely known as 'Digital Oil' just as Bitcoin is known as 'Digital Gold.'
Sources:
https://t.co/sIRY8g4IF8
Vitalik Tweet:
https://t.co/YpRratJQ8Z
Watcher Guru:
https://t.co/4JyiiykKjt
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You can track how much Digital Oil supply has been bought back and burned on the launchpad: https://t.co/xjrv2qs3T5 / @Degendotzone
Over 2.5% bought back and burned since launch.
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#Oil is one of the biggest RWAs in the world.
Digital Oil is paired with $USO - (United States Oil Fund) and utilizes 2% from each transaction to buyback, burn and permanently lower circulating supply.
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