Given the passing of WIP-01 to change WING’s distribution rate, as previously stated in the announcement (https://t.me/WingAnnouncements/45), we are now asking the community what we should do with the 70K WING tokens remaining in the Flash Pool.
Should we keep them as community funds or burn them?
If we put them as community funds, the other unlock 30k proposal (Unlock 3k WING for marketing initiatives) won’t be needed. We’ll give a monthly report on the usage details of these WINGs.
But we understand that the community wish to pump the price, maybe burn the 70k will do, or not.
So it’s open for discussion, we’d like to hear from you. Any other idea is welcome as well.
So is the understanding that the 70K would be voted in as unlocked community funds as opposed to being locked in the community funds contract for a later unlocking vote?
the options are open to discuss: keep unlocked, lock, burn or any other ideas
As the price of Wing Coin falls
You can see that the money stored in Wing Fines is declining.
Conversely, a wing’s price increase could lead to more funding.
Wing Dao should consider ways to further increase the value of Wing Coin based on various opinions from the community.
Let’s take an example.
EOS Dolphin Exchange
Previous mining pool 50:50 Overcoming the failure of falling mining pool prices
Current 80% DOP Governance Token: 20% EOS Rate
It offers about 500% APY.
However, there is no further price drop.
Why did it happen?
This is because 80% of the DOP governance tokens are held as collateral.
You will need 100 Governance Tokens to run 20 EOS as a mining pool.
Miners cannot sell mined governance tokens.
There will be many problems. This is because there are 80% collateral governance tokens.
In my opinion, Wing Coin will soon be the collateral.
When executing a loan, approximately 80% of the Wing Coin loan amount must exist for the loan to work. 80% of the wings are collateral, and the staking cannot be canceled until more than 95% has been repaid.
The loan amount cannot exceed 3 times the value of Wing Coin.
The more WING you have, the more money you can borrow and stake.
You talk. If you secure WING coins and run a loan, your VTL will decrease.
But this can be a vicious cycle.
Is the wing team more important for immediate return on loan interest?
Look really 10 years 20 years
You may have to boldly choose what has the potential for rapid growth in the future.
The decline in the price of Wing Coins is the fate of the Wing Team. It will.
Or it leads to the failure of the ontology project.
The solution to your question is simple.
The distribution of the remaining 70K Wing Coins can increase gradually over 10 years.
1% distribution of Wing Coins remaining for 1 year -> 2 years -> 3 years 5% distribution -> 15% distribution … 10 years -> 100% distribution completed
As the amount of mining decreases every year, the price drop is affected very little.
If there are accessibility, liquidity, and reasons to hold WING Coin, I can no longer find a reason to burn WING Coin.
This sounds a great idea. Try to start a new proposal for this.
Burning won’t solve all the problems, even no big impact on WING price. The optimization of the platform should be done ASAP. Let’s have more votes on the product wise please to make WING more valuable. I won’t support any burning proposals…
This can be something to be considered. Users should have WING as the entry ticket before making any borrowing/lending/securing. Thru that way, people are not that easy to get free WING and just sell out. It can be constructive to stop price dumping.
We should use it for marketing. 70K WING could make a big difference.
70k Wing Coins can be used for listing on other exchanges. Raising funds is not a bad thing. This is because they need to raise the price of Wing Coins in order to be successful, I believe they are not selling the 70k Wing Coins that have been funded. Promote this on Wing Telegram. People simply worry that 70k of funds will be used to sell. It would be helpful to clarify this and tell us how to improve it.
People who are in a hurry right now will think that they will vote a lot for burning Wing Coins.
I agree to destroy it directly, which should be good for WING
70K is not a small number. I think it is more appropriate to use them for development projects than to destroy them directly.
Just burning will pump the price for a couple of days… wouldn’t do any good to the project.
The total votes didn’t exceed 20,000, so the 70k WING will remain in the original address for further discussion at a new proposal. Check voting detail here