A certain DEX's burn proposal has basically been approved, with support votes reaching 69 million, and the community's attitude is overwhelmingly positive.

The core points are threefold: First, the community will genuinely burn 100 million tokens; second, future v2 and v3 transaction fees will continue to be used for buybacks and burns; third, some early observers have already anticipated this logic.

But what's more interesting isn't the proposal itself, but the actions of a certain large on-chain holder. Before the voting started, this guy opened a 10x leveraged long position at a price of $5.2. Now, with the token price rising to around $6, his unrealized gains have exceeded 150%, effectively doubling his account.

The key issue is the change brought about after the proposal passes. This isn't just a one-time burn event; it's a fundamental shift in the supply logic—ongoing buybacks and burns from transaction fees, creating long-term deflationary pressure. This systemic supply contraction is much deeper than mere news-driven hype.

Only when the supply side truly tightens can the market feel substantial support.