Burning

Diagram: Redeeming BTC by depositing Syron stablecoins into a Safety Deposit ₿ox and withdrawing the bitcoin collateral

Good to know: Burning is the process of permanently removing Syron stablecoins from circulation in accordance with the metaprotocol.

Burning Syron stablecoins allows users to redeem the bitcoin (BTC) stored in their Safety Deposit ₿oxes (SDBs).

To initiate a burn, the user must first deposit the corresponding amount of Syron stablecoins into their SDB. Afterward, they execute a smart contract function via the TyronDAO dApp on the Internet Computer, which triggers the transfer of BTC from their SDB to their designated personal wallet.

This process ensures full transparency and maintains the overcollateralized structure of the system.