Token Burn Mechanism for STRK

To maintain the value and scarcity of STRK tokens, we propose to implemen a token burn mechanism.

Unclaimed STRK Tokens: Any STRK tokens from that remain unclaimed for Starknet Provisions Program will be permanently burned. This reduces the total supply of STRK tokens, thereby increasing their value for existing holders.

Fee Payment Burn: A portion of the STRK tokens used for transaction fees will be automatically burned. This continuous burning process decreases the circulating supply, ensuring a deflationary effect on the token economy.

By implementing these burn mechanisms, we aim to enhance the value and stability of the STRK token ecosystem.

Eli touched on this on X, can be expected to be implemented in the future not to mention we have EIP-1559 champion.

It’s possible to implement like BNB quarter burns, there is no need to make a transition to STRK PoS

Oh, they got approval to not get real message from users. Only good massages can pass. lol. Pathetic. :rofl: :rofl:

@elibensasson FYI
what are your thoughts on the implementation of the burning mechanism of STRK?

@NatanSW what are your thoughts on the burning mechanism?

Unclaimed tokens (and additional tokens) should be distributed through provision 2 as it was said several times by the team.

Burning token from fees can be great tho !

it’s really good idea to deal with High FDV problem at the moment.

We can up this topic everyday until we have some answer about this topic. At least, we have plan to do it. I hope. Otherwise, with current inflation, I believe we will lost more user that trust us from beginning due to unlock vesting…

this provision will only create a further sell pressure on the token and no additional value

I strongly disagree

Who would you prefer to give tokens ?

Real users still using starknet after provision 1 and that will most likely hold the token or at least be there long term

Or distribute randomly to million users as it is actually the case for all single airdrop

If one airdrop make sense, its this one !
Not the previous one which obviously has rewarded hunters

Where are the hunters now ? On Linea, on scroll etc …

Now this is a chance to rewards true supporters

Plus, it won’t make a huge sell pressure.
Have a look at the monthly users. You don’t need to unlock billions to reward true users as all the hunters left
Furthermore, I prefer to see these tokens in the hands of starknet believers than anyone else.

And I believe there are more tokens of what is needed to support the ecosystem already

The purpose of the airdrop is to give token to people that will participate to the governance of the protocol and secure the network

I believe current users are most likely the ones that will do this job !

If one airdrop should be done, it’s surely this one