Burn tokens allocated to Atti in the treasury (Atti.eth) at TGE

Background:

Atti mint happened in October 2023, with each Atti allocated 7000 tokens from Atticc. Despite the Atti mint being the 3rd largest NFT mint in October in terms of minting revenue (only behind collections from large corporations Ctrip/Trekki and Michelin), not all Atti were minted by the community. Eventually 2000+ Atti were minted, and the remaining 7000+ were sent to the treasury along with their token allocation. Atti holders collectively control the token allocation for Atti in the treasury atti.eth through DAO voting. This proposal is such a vote by the DAO.

Proposal:

Atticc's core developer team proposes to burn all token allocation for Atti in the treasury at TGE. Specifically, each Atti in the treasury is still allocated 7000 tokens each from Atticc. At TGE, whatever number of Atti remains in the treasury, their token allocation will be fully vested, and immediately burned. 7431 Atti were sent to the treasury after the mint, and 500 were allocated to marketing purpose after a previous DAO vote. Therefore at TGE, there will be at least 6931 Atti remaining in the treasury, which corresponds to 48,517,000 tokens and 4.8517% of total supply. All 48,517,000 tokens and 4.8517% of total supply are proposed to be burned immediately after TGE. If not all 500 Atti were used for marketing purpose before TGE, their allocation will be burned as well.

Reasoning:

The core developer team believes burning this allocation and reducing supply is the best choice to align incentives between all of Atticc's stakeholders, and will be the most healthy choice for Atticc's mid and long term success.

• 4.8517% of total supply is a very significant number. Burning this amount of supply is beneficial for all of Atticc's stakeholders, including current Atti holders, Early Adopter Pass stakers, private round investors, future users, and future token holders.
• The downside of allocating this amount to existing Atti holders is that this benefits the current whale holders of Atti at the expense of smaller Atti holders and other stakeholders. Thus creating a divide between community members. While we recognise the massive contribution of current whale Atti holders, who are definitely our most valued community members, allocating an even larger token supply to them would create a two-tier community with the whales having an outsized influence. This not only increases the likelihood of larger whales dumping on smaller holders, but also reduces the level of decentralization. Burning this token allocation without discrimination is fairer for all and will eventually benefit whale holders too as a result of a more cohesive community and a lower circulating token supply.
• Burning this allocation will result in higher demand for Atticc's token. Having such a large amount of token concentrated in a few hands will be prohibitive for future token holders, whereas burning this supply will be a bullish signal, showcasing our community's determination to succeed in the longer term.