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KogeCoinKogeCoinby0xbE6B3315D30391a7e3Cf99B97F6f16137fa8666f0xbE6B…666f

Burn vaults

Voting ended over 4 years agoSucceeded

I've been thinking about this for a while, and as someone who believes in kogefarm for the long haul and a koge holder, we should introduce burn vaults as a separate category. Since Koge coin does not have a performance fee it seems to be suffering from sell pressure and have a purpose after the minting is finished due to low fees to reward ratio. At the current rate of burns, we are seeing around 300ish koge burned a day. We could exponentially increase burns by just adding 1% alone to koge but I think something more substantial is needed...

90% burn with the remaining 10% going to other blockchains like ftm, moonriver, etc.

Is it possible to auto deposit movr, or other native blockchain coins into those wallet addresses on those blockchains like a airdrop. These deposits would only be for who deposit their koge into these burn vaults as a reward. Would this allow cross blockchain activity without needing a bridge?

My proposal is the following:

  1. Add mirrored koge auto compounding single stake and also koge-matic farm with 90% interest made goes to auto burn, remaining goes to other blockchains with an air drop reward to burners.

  2. Add partner coins that are currently in the vault as well. Burn both koge and partner coins.

Call it "Koge Island" (kong island theme) or "burn zone" or "burn vaults", etc.

Off-Chain Vote

Great idea, needs refining.
272.17K 63.6%
It stinks
155.45K 36.4%
Where do I sign up?Viva la Koge!
0 0%
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Timeline

Oct 27, 2021Proposal created
Oct 27, 2021Proposal vote started
Oct 31, 2021Proposal vote ended
Oct 26, 2023Proposal updated