This question is in reference to Atlassian Documentation: Configuring estimation and tracking
Is it possible to generate a burndown chart based on points being spent each day instead of tracking time in hours?
I'm not sure what do you mean by "Points being spent each day" but there are 2 configurations for the JIRA Burndown chart for Time Tracking.
One is the by "Remaining Estimate and Time Spent" and the other one is by "Issues will burn down their Story Points value upon completion"
Configure your board then open the "Estimation" tab to see this configs.
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