The burner per transaction failed because it takes way too long.
Let’s burn the total supply to 60,000,000,000 per protocol. This will accelerate the burning process by years.We can keep burning coins until we reach our goal
Example: you hold 5,000,000 coins, after the update your holdings are 50,000 Coins.
Please share the proposal with Terra Rebels, If you support.
How will this affect system, utility, price?
Mathematically, what you are proposing makes no sense. We would have the same money. But with less coins.
Burning alone does not raise the money. Utility and fresh money income does.
Sorry. But that’s just the way it is. The math is like that.
If you have 1,000,000 lunc at $1 it is = $1,000,000 market cap.
If you burn half of that you are left with 500,000 LUNC. Which if you divide it by the same market cap each is worth $2…
What changed? Nothing. Now you have half as many coins with twice the value. But your capital remains the same.
Sure, it doesn’t create value, but the burn to $1 doesn’t take 10 years. The prospect of a quick recovery will attract more investors again.
I have seen something similar. It’s called a redenomination and I do see it as a quicker way to burn through it. Polkadot did it to increase their supply and we can do it to decrease the supply. I can see more people wanting to buy in if the number is decreased.