Express
Degen Foundation Seeks Community Input on Phased Destruction of DEGEN Tokens
Summary: In a recent announcement, the Degen Foundation stated that it currently holds 32.5% of the DEGEN token supply. While this fund could be used for future airdrops (such as Degen applications or other projects), it would dilute the existing holders' equity. The foundation needs some DEGEN tokens to sustain development, but may not exceed 30%. ...
In a recent announcement, the Degen Foundation stated that it currently holds 32.5% of the DEGEN token supply. While this fund could be used for future airdrops (such as Degen applications or other projects), it would dilute the existing holders' equity. The foundation needs some DEGEN tokens to sustain development, but may not exceed 30%. This large supply has raised concerns about future inflation among new users.
The Degen Foundation has proposed a phased destruction of DEGEN tokens, steadily burning tokens each month until reaching a sustainable long-term development quantity, while rewarding long-term holders. The foundation will not destroy all holdings, but this will alter the token economics and may eliminate any large-scale airdrops in the future, seeking community feedback on this matter.
Tags:
Link: Degen Foundation Seeks Community Input on Phased Destruction of DEGEN Tokens [Copy]
