Venice AI Introduces VVV Buyback Burn Mechanism and Increases DIEM Supply Cap by 2,000

Venice AI implements a $5 VVV burn per $100 API credit purchase and raises the DIEM supply cap from 38,000 to 40,000, with the new target reaching full implementation by September 14th.

Woofun AI reports that Venice AI has updated its tokenomics to include a programmatic burn mechanism. For every $100 in API credits purchased, $5 will be utilized to acquire VVV tokens on the open market for permanent removal from circulation.

The project also announced an increase in the DIEM supply cap. The target will rise from 38,000 to 40,000, adding 2,000 units in phases. This adjustment is scheduled to reach its maximum level on September 14th.