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RE: SVM - Steem Virtual Machine: My Experiment with Bringing EVM to Steem
It's really impressive and mind blowing initiative. I completely support this and I hope it will bring a new era for Steem with the burning of Steem with each transaction.
I hope it will get positive feedback of community and other witness and it will become a reality to open new ways for the development and promotion of Steem.
Thank you for your kind words!
Absolutely—SVM’s native asset is STEEM itself, and every transaction on the network, whether it’s deploying smart contracts, using DEXs, or interacting with DeFi protocols, burns a certain amount of STEEM.
Since STEEM users are already active across multiple chains, SVM can further enhance utility by enabling cross-chain asset bridging—such as USDT—via IBC or Chainlink oracles. This not only expands interoperability but also drives significant STEEM burn through everyday activities like swaps, liquid staking, and other DeFi interactions.
Simply by attracting existing STEEM users to perform these common DeFi actions on SVM, we can create consistent and meaningful token burn pressure, strengthening the ecosystem’s long-term sustainability.