What drives @AskVenice’s discretionary VVV burn? (the red on @venicestats) I asked @JonShapeShift how the discretionary burn works: tldr: After revenue, expenses, and programmatic burns, Venice allocates some free cash flow to a VVV TWAP. Then, about once a month, they burn the accumulated VVV from the TWAP. My take: discretionary burns give Venice flexibility to balance additional burns with the business’s cash needs. As Venice grows, the @JonShapeShift expects programmatic burns to take a larger role, putting more of the burn on fixed rules and less on team 'discretion'.