Hello There, Guest!

Poll: Do you support this?
You do not have permission to vote in this poll.
Yes
100.00%
2 100.00%
No
0%
0 0%
Total 2 vote(s) 100%
* You voted for this item. [Show Results]

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Coin burning exchange wallets

Junior Member
Posts: 3
Threads: 2
Joined: May 2018
Reputation:
0
#1
XP has a large supply that can't be reduced without wallet owners volunteering their XP to be burned.
The block reward reduction has managed supply inflation, but the 232 billion (and growing) XP in circulation is still a concern.
This proposal is for the creation of a wallet exclusive to exchanges and stake pools- EXS wallet.

EXS wallet will have a burn function of 0.01% on all deposits.

If all wallets sent their supplies to an EXS wallet, it would take approximately 100 days to reduce the supply by 1%.
(The % burned should be adjusted to always remain above the rate of inflation.)

Value increase will have a compounded effect of creating a deflationary period which will sustain new value.
In periods of low trading activity, wallets will be disincentivised to send their supplies to trade on exchanges.
Wallets which do send XP to exchanges during this period will ironically increase their supplies value and therefore create new interest, which will be potential catalysts for greater value increases.

In periods of high trading activity, wallets will be both incentivised and disincentivised for sending their supplies to trade on exchanges.


Why will exchanges accept this wallet?
Block exchange wallets from Staking XP using the user wallet. 
Exchange and Stake pool wallets can be identified by their volume of transactions and large amounts on the block explorer. 

Why will users accept this term of access to trade XP?
It is for the benefit of staking wallets to have an opposite force to counter their creation of new XP.
Traders will be incentivised to take XP off the exchanges and put it into a private wallet. This will create hoarders to induce scarcity on exchanges- creating value.

06-12-2018, 08:58 PM
Find Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)