Burn SDN Token and Make it More Deflationary

Shiden Network (Kusama)
41

Both great ideas. But it also needs to be made aware trough marketing for the price to reflect the burn.

1 Like
42

Option 1 is good for short term.

Option 2 is better for long term.

This project is here for the tec and innovation in long term basis, I would rather support N°2.

1 Like
43

I agree with option 1.
In this way we will have a short-term impact on the token inflaction and then, in the next future, we could evaluate the second option to control it.

44
  1. agree 100% burn
  2. burn 70% of transaction fees, 30% delegated to SDN holders.
1 Like
45

I agree with option 1 - it’s the easiest. This is the first SDN burning so I wouldn’t set any dangerous precedent with burning fees, we are in the beginnings so makes sense to burn part of the treasury and wait for the community’s reaction.

46

Burning has no impact in a long run. Only in a day of this event. (Proved by EOS and others). Also burning doesn`t turn SDN in a deflational token.

I propose to use these funds for the external incentives for users in Shiden/Astar leading dApps (For a various types of activities inside this dApps). It is an effective and cheap way to attract new users, which is very important in an initial stage of Polkadot ecosystem growth. Every new user will cost much more 1-2 years after.

For me this burning it´s like to burn Shiden/Astar potential users.

1 Like
47

Maarten is a genius, This is the best idea by far. :point_up:

2 Likes
48

Great. IMO making SDN deflationary would be nice, but it should be implemented later on after the crowdloan. The SDN in treasury should be used as additional incentive for the crowdloan. It’s a good strategy to attract more people. Then it could be vested to drastically reduce sell pressure as well. Thank you.

49

I like the hybrid model that can do both.
Option1 should be implemented before the auction to spread awareness that it is a deflating token.

50

I do agree on burning transaction fee for a certain amount. It would be great if we could make it that 80% is burned and 20% will go to stakers in dApp staking as extra bonus. Give it to the community.

2 Likes
51

Agree, incentivise the network in both cases is the way to go …

52

In my plan, only burn the current amount of treasury. We won’t burn treasury itself

8 Likes
53

I prefer option 2! And use the treasury to help the project grow somehow, burning it is wasting money that could be otherwise used to improve the project.

1 Like
54

The main idea is add value long term and people interest on shiden over other networks, deflationary style is the way to go, and burn % of treasury every cicle.

55

I vote for option 1, if the team believes there is no foreseeable use of the current amount on treasury then burning those tokens would be giving value back to the community and early supporters.

56

@Maarten’s suggestion sounds good too, an hybrid aproach might work well. Implementing a kind of deflationary mechanism has worked for other blockains like Solana, which has done very well in the recent times. On top of that we’ll have the Dapp Staking and all this brand new and powerfull Polkadot Ecosystem around us which has everything any project might need to succed in the crypto space. Everything looks promising.

I’m glad the team is making efforts to push Shiden/Astar forward. Great project with very involved people behind it, let’s make Shiden/Astar great together. Thanks @sota @Maarten and the rest of the team. So proud of having chosen SDN/Astar.

7 Likes
57

Thank you, @Shince I am going to make a poll shortly since I believe we got enough attention now to make a poll (more than 50 replies within a day!!). Let’s decide 1 first and then 2.

4 Likes
59

Agree on a hybrid model suggested by @Maarten :slight_smile:

2 Likes
60
Regarding 1, Burning Our TODAY’S Treasury Tokens
  • Yes
  • No

0 voters

2 Likes