Right now the main concern everyone is talking about price which team can’t control it, but we need to make some action that stabilize the price in market. Since right now every holder feels he’s just holding it for no rewards, right now only use case for Wing we have is to vote or add it to supply pool or in insurance pool to mine Wing, at the end any how users gonna end up only in accumulating Wing Tokens. So if we want to make them hold it we need to bring some reward system paid for staking Wing in platform.
So let me explain how can this be handled, right now we are using certain % of revenue for buyback as per the earlier proposal and we have successfully completed the first buyback. Now after this everyone feels that this is not even gonna help in anyway as the buyback program gives a fruitful results only for a long-term process but right now the only concern is that the price of Wing is finding its own new bottom every day which makes everyone in the community feel unhappy even they wish to hold it tight.
Here I see many proposal we are talking about burn or reducing the daily distribution, but the fact we need to consider is that we can’t anyway control on circulating supply in the market at present now which has been already released. So it doesn’t matter either if we burn existing mined Wing Tokens or reduce the distribution rate since already there’s a bunch of tokens circulated in market, so people obviously gonna trade with that.
So coming to the point what I am proposing is can we stop buyback program from the revenue as it doesn’t gives a fruitful results in short-term? And can we use that revenue to pay the Wing holders who have staked in our platform by means of ONT or ONG tokens.
The staked Wing tokens should have a lock period to get the monthly Reward payment from the revenue raised. Also note that the wing tokens staked in platform can’t mine Wing Tokens only can be eligible for Rewards alone, by this way we can spread out the usecase of Wing tokens.
So if people feel they are good to add Wing Tokens to supply pool or insurance pool to mine Wing Tokens they can do it or else thay can stake their wing to get paid Rewards from the revenue raised. Also we should make sure the staked wing holders should be able to participate in all voting proposal even though their Wing Tokens are locked.
So the proposal is to have a stake feature in platform only to stake Wing and let’s give a window period of 1week to people wish can lock their Wing Tokens in stake pool which will remains locked till the month end and once we pay the rewards at the end of month we can release Wing Tokens if they wish to unlock or if they remained lock boost them up the Reward when compared to other new users entering to stake pool. By this way I guess we can stabilize the current market conditions. Open to all feedbacks and reshaping this idea!
