Disabling the $BEANS Token Tax

Hello Beanies!

TLDR: No Token Tax = Easier token integration into the Moonbeans platform, other platforms & services, exchanges, cross-chain & cross-parachain compatibility, and easier entry to the ecosystem. Allows us to start on the path of registering as an XC-asset on Kusama & Polkadot.

I'd like to outline our thoughts on future plans for the $BEANS token.

$BEANS launched as a token with a 10% transfer tax in September 2021, and later the DAO voted to decrease the token tax to 5% in order to make it easier for newcomers to join the Moonbeans ecosystem. Now, it's time to make the next move - migrating to 0% token tax, and moving from a standard ERC20 to a parachain hopping xc-asset. I'll keep this as short as possible - no one reads long proposals anyway.

0% token tax PROS:

• Makes integration into the Moonbeans Platform simpler (stake tokens to verify collections, stake tokens to customize a project storefront, stake tokens to upgrade your profile, etc.) No need to whitelist.
• Easier bridging mechanics - no need to whitelist bridges to future chains/parachains.
• Buy, sell, and LP without setting high slippage tolerances.
• Requirement for any future exchange listings.
• More easily complies with regulation on tokens and cryptoassets.
• Makes it easier for us to go the xc-asset route, enabling better interoperability and connectivity as we expand.

0% token tax CONS:

• No more automated holder rewards or automated liquidity injection. However, trading volume has been low enough recently that these have been negligible anyway.

Discuss in TG, vote here. Let's get this thing done. --The Moonbeans Team