Hello everyone, my name is Enrico Toscano and I am an Italian crypto investor. For the past year I have been actively following the Astar Network and Shiden Network project.
I saw that a similar proposal has already been approved for Shiden Network and therefore I would like to make a similar one for Astar Network as well.
Given that the whole community is very concerned about the excessive inflation of the ASTR token, and its uncapped supply, I thought of making this proposal at least to bring to the attention of Team what are the community issues related to Astar Network and ASTR token.
Given that it is more than understandable that tokenomics has a scheme that is able to repay developers to incentivize them to use Astar Network, at the same time this system has been set up only for the benefit of developers, in fact too much inflation on the token does nothing else than harm investors.
What is my proposal is to adopt a burn mechanism similar to that of Shiden Network, and it is 20% of transaction fee tokens must be burned to create deflationary force, even if the ideal would be 50% (think that Moonbeam does it at 80%).
In addition to a transaction fee burn, I propose to institute additional quarterly burn events.
The tokenomics that helps programmers must not change, as it helps the growth of Astar Network, but the project must also keep in mind that we must give the token a value that also incentives investors as well as programmers.
It would be also good to put a fixed max supply.
Let me know your opinion.
Obviously I want to clarify that this proposal is made only for the growth of Astar Network and not for mere profit or personal speculation, because as I said the tokenomics that helps developers is fine, but if it helps ONLY developers and damages investors turns into a damage for Astar Network, as no one will be incentivized to invest in the token, as programmers to hedge against the risk will go to sell the ASTR token creating strong selling pressure, which combined with inflation will just make plummet the value of the token.