WIP-07 Adjust WING Max Supply to 2.000.000 instead of 10 millions (10M)

Discussion
42

Yeees~!!! I agree.
That must reduce the maximum supply. The situation is too serious now.

43

I think its a good idea to reduce the max supply of the token. The lesser the amount of the token the more scarcity n value comes into play and that result into luring both long and short term investors which will create price action and new lender/borrowers for the platform. Also the incentives/distribution needs to be reduced aswell along with bring in more use cases like staking/ borrowering more wing tokens. In my opinion, with does three things activated, we will see wing flying and stay flying in the long run cause of token scarcity, the means to trade and use wing token daily.

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44

all hands and feet for! this vote canā€™t just be ignored

45

Iā€™m holder for long term and iā€™m agree with 2m than 10m!

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46

Better we should set it at 2M

47

We need to increase the value so that we could attract more investors.

48

So, I finally had a chance to better examine the Whitepaper, again, and with the lens of this particular discussion. I came across Section 3.4.1 WING Token Distribution, 2nd bullet point:

  • 2, 000, 000 (20%) : Wing DAO Community Fund
    20% of the supply will go to a public custodian account with only governance rights and cannot be transferred out. After the Wing DAO launch, 500, 000 (5% of the total supply) will be transferred to Wing DAO community fund pool every six months. The usage of the community fund pool is determined by WING token holders through a proposal system. In principle, Wing DAO community funds will be used for development, marketing, audits, risk control, or emergency handling as needed.

Could it be expanded on the mechanism involved for transferring 500K WING/6mths into community fund pool? Would that be someplace to examine further a solution, perhaps, for long-term burn plan? IE, burn 250K/6mths up to set amount.

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49

They have said they are looking at solution the only thing i am seeing is silence regarding this matter. If they donā€™t want to hard fork or find a solution they can simply end farming and leave the max supply at 2.3M change the reward mechanism and thatā€™s the end of it. the more we wait the more the farmers will dump on un the more WING is going to lose value.
If the lender had confidence in this WING they would have Held it for a long time, but I guess they donā€™t see the point of doing so, they prefer to dump instead.
Not looking good at all. Itā€™s a mess whoever came out with tokenomics didnā€™t study economics. you can farm a token and not use and also you can keep farming for 10 years we are not Bitcoin. Most farmed token has already been farmed and stabilised within few weeks. keeping this reckless farming till 10M is not going to happen and now one will allow it.
If this is a Governance coin lets put this on vote asap before control over the price is lost.

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50

I totally agree :+1: letā€™s take action on these since we still have chance to recover than lost further.

51

The Voting is live. Check here: https://wing.finance/vote?anchor=wip07

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52

I vote for 2 million supply

53

Since we have mined 2.6 so far the lowest we could go is 3M, so letā€™s vote for the right Max supply. It will benefit all the community holders/investors and the team.

54

Glad the idea turned to official proposal finally. Thanks @erickpinos and the team for hearing our voice! and Thanks @Mr.Jamesbond for all the effort and time you spend on this.

55

I hold WING token at Binance but I donā€™t know how to connect my wallet in order to vote. Can someone help me how to cast my vote.

56

For the past days, several crytocurrency gains value because of Bitcoin rally, but WING didnā€™t move even a bit increase, however the value continously decreasing and it really alarm me so much cause I hold WING token for a quiet longer already and the value of my money deplating than gaining.

57

I hope itā€™s not too late already when you do the modification. Supply must be set to 2M so that we could set higher value again.

58

I agree! This initiative should bolster early adopters and set the tone for the upthrust. I am a long-term owner of my wings but letā€™s just say I donā€™t want to hold ont in order to get a wing (although for a long-term they look extremely tasty). i want to keep wing and get wing

59

Transfer your WING to ONTO wallet make sure you have gas ONT, and go to the vote page and connect it like Metamask, then vote, make sure you keep your vote live till snapshot.

60

You need to transfer you WINGs to your ONTO/Cyano wallet before voting

61

You crazy idiots. Are there the most people who are still unconscious and want to keep the maximum supply of 10M? If you unconditionally reduce A to 3M and burn 1M, you can at least prevent your money from disappearing. You idiots. Are there so many crazy idiots who choose C because they still want to give money to the Wing team and lose more money? Vote for A if you want to live