RE: SVM - Steem Virtual Machine: My Experiment with Bringing EVM to 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.