Drastically lower Max supply and distribution rate

Discussion
1

Currently the Max supply is set at 10M, with 2M in community fund and the rest in liquidity & incentives pool. https://wing.finance/governancend

I’m proposing that the Max supply be reduced to 5M or less. Keep 2M in community fund, but reset the liquidity pool to 3M max. Also, the current distribution rate map may still be too high. I also propose reducing them to at most x0.25 current rates.

I’m including the below for reference since it’s been mentioned already.
https://gov.wing.finance/t/stop-burning-supply-idea-we-need-decrease-mining-rate/56

2

This has also been mentioned here: Set WING Max Supply at 2 Millions instead of 10M

Maybe we can combine the conversations.

1 Like
3

I agree. Cheers for the suggestion.

4

In my opinion, if we change the max supply to 3M but allow the community fund to remain 2M, the problems will be:

  1. only 1/3 of WING supply will be owned by platform users (borrowers, suppliers, insurers). In this way, either the token relsease period will be severely decreased (from original 10 years), or the daily mining rewards for users will be significantly reduced (WING APY).
  2. Potentially, the community fund could be used for emergency, risk control, and platform development. They could be distributed to Influencers, PR agencies, exterior developers, exchanges, crypto media, etc. Most of these people are probably not Wing users, which means governance means nothing for them and they will immediately sell after receiving WINGs.

Do you still think 3M plan is feasible now? I personally believe 5M total supply (burn 50% community fund) is a good way to start.

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5

Good points @Nickoshi

1 Like
6

This topic is combined to Adjust WING Max Supply to 2.000.000 instead of 10 millions
The Topic is closed.