> For the complete documentation index, see [llms.txt](https://docs.ternoa.network/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.ternoa.network/learn/caps-token/burn-program-1.md).

# Burn program #1

As part of this first burn program, starting Oct. 1st 2023, a total of c. $400 000 worth of CAPS will be burned going forward.

The amount of CAPS burned every month is going to be based on the volume of NFT transaction fees paid on the network.

With this mechanism, we intend to leverage $CAPS burns to help foster network growth and transactions on the chain.

This program will be followed by subsequent burn programs, whose timing will depend upon factors such as blockchain transaction growth, hardware cost evolution, network decentralization pace, etc.

**Terms & Conditions**

For each calendar month, the following amount of $CAPS shall be burned, based on the previous month's chain activity:

* 100% of NFT transaction fees paid on-chain
* Minimum 1 000 000 $CAPS
* Maximum 5 000 000 $CAPS

Burns will occur in the first days of the following month, and they will be announced on our social media accounts. As such, the first burn will happen in early October, for the month of September 2023.

This program will be in place up until 25 m$ CAPS have been burned, or a new burn program is implemented.

A token burn on a non-inflationary coin supply is not a common feat and may be a worldwide first. This is a bold decision we are making to show to our community of holders and signal to markets that the team is firmly committed to ensuring Ternoa’s tokenomics are healthy, and competitive in the crowded space of blockchain infrastructures.

Make sure you follow our social media accounts to keep in touch with updates on our $CAPS burn programs and strategy.


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