burn 10% of MANA (Total Supply)
Proposal Details
Description
burn 10% of MANA (total supply) to higher the market cap (market dominance) because of new investors
Hello, a couple of points: - in the past there was a voting that decided to stop burning MANA with fees because the burning actually didn't change anything - scarcity only reduces cashflow, and therefore increases the volatility and speculation which is undesirable - it is virtually impossible to get 10% of MANA to burn
Trust me this makes no sense or whatsoever, 222 million MANA was burned when the DAO and Foundation were established and it had no visible positive effect. It would have been better off in the treasure of the DAO. A lesson was learned there.
If I'm not wrong the DAO just don't have access to the 10% of the total supply. The proposal is invalid.
This only increases scarcity, while providing no actual economic value.
this would actually drop the market cap. You are betting on the market stabalizing to +10% of current price afterwards, and once seeing a move like this happen then i think some people will loose faith in the coin after seeing us try to manipulate it like this MCAp = market price X circulating supply
Do you provide the 10% that will be burned? =)
6 Comments