Issuance of Proof of Burn to close 17 August

The Bank did not print today.

Of 1,030 MAGA Giraffes struck, 343 have been destroyed. 687 remain.

The vaults are coming. A Proof of Burn charters one. There is no other instrument, and there will be no other instrument.

Issuance ends Monday 17 August, 07:00 Austin.

The Bank sets out the terms in full, so that no member is required to infer them.

A Proof of Burn is obtained by destroying a MAGA Giraffe. The Giraffe is destroyed on chain. Nothing is held against its recovery, nothing is sent back, and the Bank does not operate a reversal. The Bank mentions this not because it is unclear but because it is final.

The instrument is the charter. A Proof of Burn is the only route to a member bank vault. The Bank has not built a second route and does not intend to build one. A member holding no Proof of Burn at the close will hold none after it.

Issuance closes at seven o'clock and three seconds in the morning, Austin time, on Monday the seventeenth of August. The Bank is aware that the three seconds serve no purpose. They are in the contract. The Bank does not amend a contract for tidiness.

The Bank will publish the census at the close and will not extend the window.