Governance vote: Increase WALLET Burn Rate to 50%

We are proposing a governance vote to increase the burn rate for claiming $WALLET rewards to from 30% to 50%.

The burn rate is a deflationary mechanism we have implemented to ensure WALLET token stability. Ambire Wallet users who are eligible to receive rewards have two options for claiming: to stake the full amount of tokens with a 20-day lock-up period, or to claim them to their balance with a 30% burn.

Due to current market conditions, we believe that it is in the best interest of all WALLET token holders to increase the burn rate to 50%. Furthermore, the rage quit burn rate will also be increased to 50%.

In addition, the lock-up period for staked WALLET tokens will be increased from 20 to 60 days.

This measure will help reduce the amount of circulating $WALLET and will thus incentivize WALLET token owners to hold them for longer periods of time, earning even more rewards on them.