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THE HUBTHE HUBby0x145ccF067D33e78bE1f509E1FB5C50906dA78c850x145c…8c85

Lowering the total supply of $MGH

Voting ended about 4 years agoSucceeded

In order to lower the fully diluted market cap of the MGH token, the initiators propose the following measures:

The advent season is in many parts of the world a season to celebrate and to enjoy. We want to celebrate this season not only with generous Meta NFT airdrops but also with a generous token burning program. To be more precise, on each of the four advents (always on a Sunday) 10,000,000 MGH tokens will be burned. The tokens that should have been burned last Sunday (1. advent) will be burned on the upcoming Sunday.

Furthermore, we want to accelerate the staking launch with a burning program. Let me elaborate this a bit: By staking MGH tokens, you will earn MGH tokens as a staking reward over the staking period. The amount of generated staking rewards until the 31st of January will not only be distributed to the Stakers but the same amount will also be burned out of the MGH treasury.

Lastly, the amount of staked MGH tokens on the 24th of December at 6 pm CET will also be burned. Don’t get me wrong here: NOT the tokens of the Stakers of course will be burned but the amount of staked tokens will simultaneously be burned from the treasury.

Do you agree to these measures?

Off-Chain Vote

Yes
12.33M 100%
No
0 0%
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Timeline

Nov 29, 2021Proposal created
Nov 29, 2021Proposal vote started
Dec 02, 2021Proposal vote ended
Oct 26, 2023Proposal updated