Jacek.degen.eth 🎩
@jacek
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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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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Jacek.degen.eth 🎩
@jacek
I think burn tied to protocol fees makes a lot of sense, but we don’t really earn protocol fees right now, so until we have that in place, it doesn’t really make sense to implement.
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