Is This The Fastest Way To Burn Billion Of Sports In A Short Time?
I was just thinking of the faster way to speed up Sports burning process and I actually thought of an idea
Most of us know that we've been burning Sports for the past few months but the whole process seems to have been so slow. So far, only 4m Sports has been burnt into the @null account
Okay what idea do I have?
If we look at the @sportsprojects account where the reward pool for authors and curators are coming from, it has about 98bn sports
What if the whole platform comes into an agreement that 50bn out of the 98bn Sports token in the @sportsprojects account is powered up ( though it can be powered down later). When it's powered up, the @sportsprojects can use it to
self-vote itself like 10 times a day and the rewards will be sent into @null account for burning.
Or maybe a fresh account is created for the burning process and @sportsprojects will send 50bn Sports into it. Then the account does the self-voting and the rewards are burned into the @null account
Come to think of it, if an account with
50bn Sports staked self-votes itself, that should be over 10m Sports token at 100% and if that's done 10X a day, that's about 100m sports daily which will be sent into the @null account for burning. In just a short time, we would have burnt billions of Sports token
I just thought this will really speed up the process of burning of the Sports token just that I don't know if this it's possible to implement this, and I don't know if this idea makes any sense
Great analytics sir,This would be great to us as an sports community.
Good point Tosyne! @battleaxe is also talking about burning. Something needs to be done, too much mining is being performed with no counterbalance.
This has been brought up a lot and I'd say, Run for Ref! I'll vote ya'
:)
This makes sense, I think you have a great point here. Let's see what the admins will make of this.
Burn! Burn!! Burn!!! You have raised a good point here man and am very sure the team will see to it.
I love that the community is coming up with new ideas for burning tokens. These ideas will spur innovative new ways for us to power burns that will help lower the supply schedule.
The issue I'd have with an idea like this is that it's essentially equivalent to lowering the rewards pool. Each vote from an account like that would mean that less rewards would be distributed to the wider network as that account's vote would surpass nearly everyone else combined. This in turn would give the current SPORTS whales an unfair advantage over any new comers to the ecosystem as they would have obtained their tokens during a higher supply schedule.
There will be more announcements to be made to this nature soon. The goal of what we've been working towards is to create a system that rewards the users who actually do burn tokens or provides meaningful ways for users to need to burn tokens. This will still allow everyone the opportunity to benefit from the rewards pool of SCOTBOT while having a new range of exterior reasons for users to want to burn tokens.