no misunderstanding, i’m a fan of burning .
The total supply must be down .
2 Likes
This is not an improvement to Bitdao. Better stake to burning, lower the max supply and make each Bitdao more scare.
1 Like
the problem with burning is that it destroys value. These $BIT tokens could be better used to improve projects like Mantle and maybe do partnerships with other projects and bring them into the DAO, thereby increasing the size of the $BIT community.
If $BIT should be burned - it should be burned through EIP-1559 type initiatives on Mantle as this type of burning is driven by on-chain results versus burning tokens to purely increase value.
At BitDAO, we have planned some very interesting approaches to getting other ecosystem players involved in the DAO.
1 Like
There could be more value built by creating more utility for $BIT versus contracting supply.
With Mantle, we will use $BIT as the gas token, ecosystem token and staking token. We will be able to add far more utility and value accrual to the token and put it in the hands of builders and network users.
For building a healthy token economy we need to create more utility for the $BIT token and this requires a healthy supply so that we can get the token in the hands of more community members, who can then use the token across the dApps building on Mantle.
1 Like
To attract more people to the $BIT token, we can also invest in and build more projects. eg. Mantle.
At Mantle, we already have 35+ large projects deployed and many more on the way. Recent hackathons have yielded 250+ high quality projects already deployed on the testnet. With mainnet launch, we have have hundreds of projects go love, each using the $BIT token in some way.
Through this, we can create far more value for the $BIT token than by contracting supply.
2 Likes
It sounds great, but we need to wait for mantle mainnet launch to ensure it can really return value to $BIT community and increase $BIT usage. (Actually we have no schedule for mainnet launch)
For now, it’s too early to make an proposal to let bitDAO running alone.
4 Likes
The roadmap is there on the Mantle website - https://mantle.xyz/
We are planning for the mainnet for end of Q2 early Q3.
1 Like
good news ever heard from Mantle, kudos to the team effort, thank you all