Community needs to start burning more!
How long do you think Binance will continue burning millions by themselves?
Each of us probably ownes several millions lunc so if community starts burning staking rewards price of those bags will increase anyway.
If we start burning 50% rewards by default now and we lower that for 10% every 6 months, together with 0.2% tax, supply can reduce really fast.
Comments that many would unstake because of that are unproven! Maybe actually more people would stake becase of that?
There is no magical solution to USTC. So stop hopping that supply will be reduced by restoring peg.
Tax rewards! We can always stop with this tax if things go wrong way. But if we don’t try we won’t know.
What else can we lose?
I would gladly burn 50% or more of my rewards! I had hoped that this could have been done automatically under the hood of delegation.
Nevertheless, i think there is greater value in vollentarily opting to burn our own rewards, not to mention avoiding an authoritarian state!!!
Therefore, how could a simple user like me, burn my own rewards? How do i find a legitimate burn address to send my rewards too? Do i need to set up a node and run a smart contract?
What if dev could update the TerraStation wlet “Stake/Withdraw All Rewards” UI with a “Burn %Rewards” slider or such?
Also, we probably should have transparency as to what has been burnt, that the burn address is legitimate, and that it cannot be changed, corrupted or hijacked. The community can vote and agree on the burn address in the proposal. Put a good lion on guard.