I can confirm that the more the ecosystem is used 1) The more transaction fees are burned 2) The more protocol fees are captured (and sent to FIRE) 3) The larger MeV capture becomes. (With MeV earnings also sent to FIRE)
The largest part of FIRE’s mandate is to buyback FLR.
The initial goal is to reduce inflation beyond the existing reduction of FIP16. The ultimate goal is that the ecosystem grows large enough such that through these three mechanisms the network becomes deflationary.
I'm happy to share that @FlareNetworks has just been added to the @CoinMarketCap ISO 20022 category.
This reflects a growing recognition that Flare is one of the few networks actually building ISO 20022-style workflows on a top public blockchain, not just using the narrative.
Thanks to the work with @ProofRails, dApps on Flare can turn everyday onchain actions (tips, payments, payout flows) into structured ISO-style receipts and reports that off-chain systems can actually use: accountants, treasuries, and eventually banks and PSPs.