I can claim and I think people would agree that no one has talked about narratives and narrative building in the Pocket community as much as I have.
I empathise with the narrative and the sentiments behind fixed supply and I myself have been a proponent of digital scarcity.
Yet, I have to agree with @nelson and @RawthiL , and my thoughts about fixed supply are on this thread.:
I have at least glanced through the tokenomics of most of the relevant top 50 tokens because of the above exercise and also for my day job.
I believe $POKT has an opportunity to do better than simply fix a number, and come up with a model that is intellectually superior and honest than whats out there. The bar is low.
Whether $POKT needs $ETH level complexities, I don’t know (yet) but that is definitely the gold standard.
Which takes me to “burn” that @RawthiL and @nelson proposed and you @msa6867 also seem to be excited about.
Me too!
Even from a narrative standpoint, burn is superior to fixed supply. Why?
Because token burn is repeated and every time it happens there is excitement in the market. $BNB is one such token.
Since the merge, despite so many intellectually vital subjects, the most talked about $ETH properties have been the burn, $ETH being deflationary and therefore ultra sound money.
Going back to $POKT burn, here are my suggestions and questions:-
- Burn ideally should be programatic such as of ETH and not non-programatic burn such as of $BNB, $Aave etc.
There should be on-chain transparency of supply and issuance such as: https://messari.io/charts/ethereum/iss-rate
And burn such as: https://ultrasound.money/
Such standards will elevate POKT tokenomics to newer standards, which is generally not the case as I highlighted in this thread.
- Question is burn what? Are we talking about merely a supply/demand equilibrium or are we also talking about app stake burn? Because the latter I think is a bigger discussion and involves the only seller/reseller PNI; it’s their pricing plan.
I am very interested to discuss protocol financials, token value accrual, app stake burn etc but I am not sure if that will cause scope creep.
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What’s the timeline? @RawthiL says “as fast as possible”. Think answer to #2 will matter here. Also what about “post-V1” pushback to many changes/proposals that happens?
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How does this relate with @RawthiL 's radCAD post?
I will add more as I think through but for now this is it.
Also @Cryptocorn , SER is up for voting. So you could join this party, its getting interesting 