Show HN: Burnt US Dollars
a day ago
- #burning
- #cryptocurrency
- #blockchain
- Burnt US Dollars ($bUSD) represents the value of burned US Dollars.
- Total USD Burned: $2455.
- Participants can burn US banknotes to receive bUSD and a Proof of Burn NFT.
- Steps to burn USD: Read Burn Agreement, complete Burn Application, mail bills and fees.
- Burn Agent burns received bills during official Burn Ceremony.
- bUSD issued at one-to-one rate with burned bill denominations.
- bUSD is an ERC20 token on L1 Ethereum, not a stablecoin or security.
- Burning US currency is a federal crime punishable by up to six months in prison.
- Burn Agreement covers legal matters, issuance, and policies.
- Burn Agreement NFTs can exempt processing fees in simplified applications.