Burn or lock buybacks?
we have always tried to experiment with chain upgrades, so when conviction launched we saw the benefits to lock alpha acquired with revenue
this meant showing commitment, cementing our spot as the subnet operators and takes alpha out of circulation through the locked stake yield
when presenting this to the community, great points were made for both burn and lock options however, ultimately consensus was ‘burn is better’
admittedly it’s a small sample size of opinions so i’d like to get more data: What is everyone’s opinion on burn vs lock for subnets generating revenue?
In August, we generated $15,000 in revenue and completed our monthly alpha buyback, bringing our cumulative buyback total to $85,412.
Admittedly it was a slower month with a few incentive mechanism updates and bugs that hampered volume growth. Since resolving them, we've seen new all-time highs in activity with the first 8 days of September already clearing the whole month of August in volume and revenue.
Notably, this marks the first time we are permanently locking the acquired alpha into conviction. This is a deliberate step that reinforces our long-term commitment to the subnet and further strengthens our position as the team best equipped to lead Subnet 41.
Onwards.