Jacek.degen.eth 🎩 on Farcaster

Jacek.degen.eth 🎩 pfp

Jacek.degen.eth 🎩

GM Degens, Curious to hear your thoughts on a potential $DEGEN burn. The foundation currently holds 32.5% of the supply. While we could use it for future airdrops (like for the Degen app or other ideas), that would dilute current holders, which doesn’t feel right for those who’ve been hodling. We’ll always need some $DEGEN to keep building, but probably not 30%+. And let’s be honest, that big supply has scared off some new users worried about future inflation. One idea: a phased burn 🔥. Steadily burn tokens monthly until we reach a sustainable amount for years of building, while rewarding long-term holders. We wouldn’t burn everything, but it would shift tokenomics, and likely remove any big airdrops down the line. What do you think: burn or distribute more to the community?

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Corbin Page pfp

Burning tokens rarely has the intended effect. Tokens are not rational markets. I’d recommend keeping it in the Treasury and lowing token allocations instead. For Burns, any fee mechanisms should be taken in ETH or stables and used to buy+burn $DEGEN. Creates buy pressure and lowers supply.

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Garrett pfp

good idea burn 1% each month for the next 6 months

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YES2Crypto 🎩 🟪🟡 pfp

YES2Crypto 🎩 🟪🟡

@yes2crypto.eth

Well, OBVIOUSLY anyone who has $DEGEN in the vault should have their $DEGEN doubled... ok, it was worth a try.

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YES2Crypto 🎩 🟪🟡 pfp

YES2Crypto 🎩 🟪🟡

@yes2crypto.eth

Maybe make one of the new airdrops/distribution mechanisms implement a burn as part of it. IE, as people "farm/earn/accumulate" $DEGEN, ALSO burn $DEGEN as it is accumulated. example: - level 1: earn up to [x] $DEGEN in exchange for whatever actions - level 2: earn up to 2x $DEGEN, and in addition, 1x $DEGEN is burned - level 3: earn up to 4x $DEGEN, and in addition, 2x $DEGEN is burned etc The more successful the participation, the more is burned, but only upon success.

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dusan pfp

it might have a positive short-term impact on the price, but i always considered token burn a marketing gimmick. it feels lazy and uninspired.

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0xZara.eth🎩 pfp

burn? distribute? how about… build a video game 🎮🔥 let us play and earn $DEGEN like true onchain warriors. quests, loot, memes, chaos, the real degen experience. tokenomics + fun = win win 🧠💰

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Sam (crazy candle person) ✦ pfp

Sam (crazy candle person) ✦

Honestly dude your focus should be onboarding more users to degen or enabling people to earn/make degen easier I dont think the foundation holding X amount in cash is relevant to this mission, maybe you’ll see a short term boost but if you don’t find a revenue source before then you’re literally just burning money Figure out Pmf first and then do the burn to light the fire

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Jeremy pfp

Why not lock the tokens

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Øxdts 🐻⛓️ pfp

Øxdts 🐻⛓️

distribute. burning really doesn’t add value to the token but yea sell pressure is eliminated but youre just adding temporary relief

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Colton Dillion 🃏🎩 pfp

Colton Dillion 🃏🎩

IMO, burning treasury never increases price, you gotta use the funds to increase demand for the token (ie more rewards for creating virtuous currency loops) or to move existing liquidity into a sink (ie lock up tokens that are already exchangeable in beefy or aero) What's the virtuous currency loop for the DEGEN app?

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Tekrox.eth pfp

What about launching a DAO? 30% Degen supply would be treasury. Small team of delegates decides what to do with degen. Grants, chains, apps etc. finding way to grow token and community. All governance on chain, and transparent.

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Trebor🎩🟡 pfp

Both are good. Maybe another hyped period with distribution and allowances could be good if done at the right time Plus a calculated burn might work just wonderfully

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BrixBountyFarm 🎩 pfp

BrixBountyFarm 🎩

Don’t burn it Imo burn on well established tokens reek of desperation Agree with @zinger on this one If you’ve moved from meme to “project coin” your tied to folks wanting to hold the token cause of what you’re building & shipping. Feel free to slow emissions though https://farcaster.xyz/zinger/0xfdb7e0bd

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eggcooker.base.eth pfp

eggcooker.base.eth

If you really want to burn it, give it to me. 🤣 Jokes aside, I can generally agree with your thoughts. I think it's a good idea.

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Pablopa 🔵🎩🔄 pfp

Pablopa 🔵🎩🔄

Burn it monthly 🔥🔥

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Halis pfp

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Mujeeb Ur RehmanⓂ️🎩💜 pfp

Mujeeb Ur RehmanⓂ️🎩💜

@mujeeburrehman

Burn it jacek🔥

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Timbrrr 🎩🧢 ↑ 🍖 pfp

Timbrrr 🎩🧢 ↑ 🍖

Burns are usually not recognized in the market so if you do it, a phased approach is best. People need to see continuous large actions onchain for it to stick. Ideally, a one way door like a contract that once deposited it just burns some amount no matter what. Also well worth evaluating LP incentives that are sustainable. A diverse well fed LP set is critical.

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standpoint.eth 🎩 pfp

standpoint.eth 🎩

@standpoint.eth

Monthly burn, up to 15% of supply, 1% per month. Keep 5% for airdrops. Keep 5% liquid treasury and community incentives, lock the other 5% treasury for 5 years.

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