A large quantity of tokens that are currently in the Aladdin treasury are not needed under the new tokenomic system where new ALD should only be minted as new bonds are sold. By burning excess tokens in the treasury we ensure that more of the rewards go to the community, and that we have the maximum runway for paying rebase rewards. We also ensure that the curve-based bond pricing lines up reasonably with the reserve asset value at the time that the new tokenomic system is turned on.
Further details and discussion are available in the Aladdin forum: https://forum.aladdin.club/t/signal-vote-burn-70m-ald-tokens-in-treasury-to-support-new-tokenomics/302
Snapshot voting on the above proposal will be open to all ALD token holders, including holders of ALD LP positions and unclaimed ALD from LP, farming positions, or contributor allotments.
If this proposal has more than 50% support at the end of the voting period, it will be considered to have passed and the prescribed tokens in the treasury will be burned prior to the start of rebase reward distribution under the new tokenomic system (currently planned for early January).