Degen

Like our X post below if you want to see a $DEGEN burn.

If we reach 50k views, we'll do our first-ever burn of 50,000 $DEGEN! 🔥🎩

Like this post if you want to see a $DEGEN burn.

If we reach 50k views, we'll do our first-ever burn of 50,000 $DEGEN! 🔥 🎩 https://t.co/cC7h2uWYrd

Degen 🎩

Like our X post below if you want to see a $DEGEN burn.

If we reach 50k views, we'll do our first-ever burn of 50,000 $DEGEN! 🔥🎩

https://x.com/degentokenbase/status/1950325417266860444

Feels like the demand side needs to be addressed. 

Not too optimistic this is a fully holistic approach.

Thanks everyone for the feedback, still processing it all, but here are some of my thoughts on token burns, demand, and community alignment from today:

Burning tokens alone won't create new demand. But I think token burns could still play an important role by aligning our community around shared goals.

Just as examples (these are just ideas, not promises):

1. Imagine we burned 100 $DEGEN every time someone mentions DEGEN positively on Farcaster or X. Unlike airdrops (which get farmed and dumped), token burns reward the entire community by reducing supply. Instead of encouraging people to farm tokens to sell, burns encourage actions that benefit us all.

2. Another example is milestone-based burns: if we reach 100k wallets holding at least $10 in DEGEN, we burn tokens to celebrate. This aligns everyone's incentives toward shared growth and gives us clear goals to rally around.

On the demand side, our protocol already earns around $30-60k per month, mostly from our liquidity pool and trading fees, plus income from treasury strategies like selling options. As our DEGEN app and mini-app gain traction, we hope this revenue will grow.

We could start using this protocol revenue to buy back DEGEN from the market each month and burn it. Over a year, that's potentially over half a million dollars of buybacks, creating ongoing positive momentum.

However, we also have the challenge of currently emitting ~90M DEGEN tokens per month (about $360k at current prices) through liquidity mining and allocations. Allocations will stop soon, but liquidity mining is a big question: at the current pace, that's potentially $4M of tokens emitted each year, much of which might get farmed and sold.

Would we rather pause or reduce these token emissions and instead focus fully on:

- Growing our fees and using them for DEGEN buybacks/burns

- Introducing targeted token burns aligned with real community milestones or helpful actions like promoting DEGEN socially?

Combining these strategies could really help us build more interest, attract long-term holders, and align incentives around community-driven goals.

No decisions yet, just thinking aloud, and we'll discuss internally. Curious what you all think!

CEO - Media3 Labs | Join us at /scoop3, an onchain podcast player | Host of The Blockchain Experience podcast /theblockexp | Ex-Samsung | Ex-Hewlett-Packard

Refined

Thanks for acknowledging the demand piece. I know it’d probably appease a good number of people to play with supply mechanics, but I don’t think it’s addressing the deeper issue — there isn’t enough of a tangible reason to buy  the token or keep it on the network.