Skip to content

burn 10% of MANA (Total Supply)

RejectedPoll

Proposal Details

Author0xb01c…c538
PublishedNov 09, 2021 07:03
Voting beginsNov 09, 2021 07:03
Voting endsNov 16, 2021 07:03
Snapshot#d3Rx3Qi

Description

burn 10% of MANA (total supply) to higher the market cap (market dominance) because of new investors

6 Comments

menduzNov 10, 2021

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

FedeMolinaNov 10, 2021

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.

EibrielNov 10, 2021

If I'm not wrong the DAO just don't have access to the 10% of the total supply. The proposal is invalid.

TheCryptoTrader69Nov 10, 2021

This only increases scarcity, while providing no actual economic value.

SangoNov 09, 2021

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

HPrivakosNov 09, 2021

Do you provide the 10% that will be burned? =)