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RE: The Steemleo 🔥 BURN Report🔥— Permanently Decreasing the Supply of the LEO Token to Support the LEO Economy!
I love the leo tribe, looks like the only one so far trying to do something different with the tokenomics instead of just throwing coins at users. If we look at these burn rates its going to become increasingly important to stake your coins for those who have them.
I'm really interested to see how the leo token will maintain its value, pretty sure more sinks will be on the way too.
- I'd love to see a power down/unstake burn for instant unstaking vs staking power down over time
- Another cool burn case would be creating bounties (like @steem-bounty) on posts with a % of it burned once rewards are given out
Dear @chekohler
Is there any chance I could contact you via DM? Perhaps telegram or email?
Yours
Piotr
Sure pop me a mail or a telegram DM
Posted using Partiko iOS
It's me again @chekohler, @steem.leo
I was just wondering .... we all know problems with constantly increased selling pressure related to STEEM. Supply is always growing and demand is not.
Sinks and burns can create more value for all early investors, simply because it will be pushing price higher.
And I'm wondering what are possible threats of this solution. There always are. Perhaps once price of LEO token would grow few times, the it would be simply not possible for new comers to ever "exist" on this platform, without spending fortune?
What do you think about it?
Piotr
I actually gave it a bit of thought and yes as more tokens burned prices are going to increase but as a community we can look at reducing burn rates over time for certain tasks!
IE promoting your post won’t burn as much Leo as it does now so we can always adjust it to maintain a certain burn to inflation ratio and manage the deflation to an extent
If Leo becomes less attractive to purchase a focus will be on earning instead of purchasing and there would be more pressure on the inflation pool as users compete for rewards making for a stronger ecosystem which is kind of what we’re aiming for!
We mustn’t also forget that we have 3 decimals too so while users might not be earning large amounts of Leo in the future if they maintain a specific value it would always be worth picking up the dust!
I don’t think there’s an ideal solution yet but I think it’s something we should address year by year! Still very much in infancy
Posted using Partiko iOS
Dear @chekohler
What I'm trying to point out is the fact, that most people already involved wants to burn tokens simply because it lowers supply, which in result may bring price up.
However we don't seem to think long term: if price of LEO would raise x5 one day, then new users will never be able to achieve much without investing huge amount of their resources.
My strong believe is, that maintaining stable price is the best in a long run for this platform.
Yours
Piotr