Index Protocol just wrapped up its November token burn cycle, and the numbers are in.

Roughly 4.7 million RSR tokens got permanently removed from circulation this month. That's another batch sent straight to the burn address—gone for good. This monthly burn isn't some one-off stunt either. It's baked into the protocol's fee structure, meaning every month a portion of accumulated fees gets converted into RSR and torched.

For those tracking RSR's tokenomics, these burns directly shrink the circulating supply over time. Less tokens floating around, assuming demand holds or grows, creates that classic deflationary pressure. Index Protocol's been keeping this rhythm going consistently, turning protocol revenue into a systematic supply reduction mechanism.

The mainnet transaction went through without a hitch. Another 4.7M RSR wiped off the ledger, continuing the protocol's commitment to value accrual through permanent token removal. If you're holding RSR or watching this space, these monthly burns are worth keeping on your radar—they're not just ceremonial, they're reshaping the token's supply curve month by month.