Proposal #2 aims to address the total supply of the $SENATE tokens of 295,669,301. Previously, community feedback has been that the total supply of the governance token is too high. This proposal is a response to that feedback and suggests that a percentage of the total supply of $SENATE should be reduced, and therefore publicly burned.
We propose to burn 101,900,000 SENATE tokens and remove them completely from circulation, which will reduce the total supply by 34.46% to 193,769,301 SENATE tokens.
$SENATE is a very valuable governance token for the SIDUS ecosystem. Burning will make the $SENATE token more rare and privileged. The Sidus team wants to leverage the strength of the Linea Ecosystem while making $SENATE stronger. In addition, new use cases for the governance token will be presented soon.
IMPORTANT: If this VOTE will pass, all 101,900,00 SENATE will get burned forever and $SENATE tokens will not be used as a reward for in-game activities anymore. You will only be able to obtain this governance token from the secondary market.