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Sidus Heroes | Sidus PadSidus Heroes | Sidus Padby0xA85c0C295acCa370EF81Be3F3403984597fFb30C0xA85c…b30C

Burning the entire amount of an incentive $SENATE pool

Voting ended over 2 years agoSucceeded

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.

Off-Chain Vote

YES - agree with a burn proposal
3.21M SENATE99.7%
NO-disagree with a burn proposal
11.26K SENATE0.3%
Download mobile app to vote

Discussion

Sidus Heroes | Sidus PadBurning the entire amount of an incentive $SENATE pool

Timeline

Nov 07, 2023Proposal created
Nov 07, 2023Proposal vote started
Nov 10, 2023Proposal vote ended
Nov 10, 2023Proposal updated