Hi everyone, I have already seen that several times on this forum the proposal has been made to introduce a burn mechanism on the ASTR token similar to that of SDN (Shiden Network), and in addition someone was talking about quarterly burns and a fixed max supply to increase the deflationary force.
I noticed that the theme is particularly felt by the community, both here and on Twitter, both in the comments of the official page, and also in the accounts of some specific communities, as in the case of Indonesia. The theme of the burn mechanism is particularly requested.
I do not have the skills to go into technical details, also because I have seen that more than someone, both on this forum and on Twitter, was much more technical than me in describing a possible mechanism.
But based on what I see at the market and fundamentals level, I don’t want to dwell on it as I would just repeat what other users have already said, but I also agree in saying that a burn mechanism to create deflationary force on the ASTR token is more than necessary, as regardless of the fundamentals of Astar Network which are excellent, I have always argued that Astar can become the main public L1 of Japan, but there is still a lot of repulsion due to excessive inflation, which according to many incentives only developers and validators (which is totally right for them), the problem is that if there is no counterbalance that transmits ASTR also a reserve of value, the token itself will only be used and object that of those who will then use it to speculate or simply dump it on investors heads.
As for the fixed max supply, I don’t want to be as extremist as someone who claimed to adopt a system similar to Acala Network, so with a fixed max supply of 1 billion tokens and that’s it, but at the same time I believe that 7 billion tokens in total they are really too much, and moreover without a fixed max supply. Maybe a middle ground could be between 2 and 4 billion, with a balance between inflation and deflationary force.
I think that for the long-term benefit of Astar Network it is a great incentive to introduce different deflationary forces able to offset inflation and at the same time incentivize devs and give fundamental value to the ASTR token.
So summarizing: based on the other proposals seen by other users, my proposal is to adopt a burn mechanism equal to the one in place on Shiden Network, in addition to doing quarterly burns and maintaining a fixed max supply, even unofficially through circulating and total supply around 2-4 billion tokens, continuing with the dApp staking method, paying lavishly for devs and validators but at the same time balancing inflation with the deflationary force mentioned above.
I repeat, what I write is based on all the proposals I have read so far.
Speaking of this, I also take the opportunity to ask if the previous proposals of other users have already been approved, and therefore if my proposal is useful or if a decision has already been made on the burn mechanism.
I repeat, sorry for the umpteenth proposal, as I have seen that both on this forum and on Twitter there are so many who ask for it and all the polls are in favor of a burn mechanism, but in the face of the numerous proposals made by other users I never understood if they had been approved or not, and so I in turn wanted to give my opinion and make my proposal.
