Context

SIS serves as the governance token for the Symbiosis protocol, underpinning its key functions and ensuring security. In the last quarter, approximately 0.25% of the total SIS token supply has been bought back from exchanges. These tokens should be utilized in a way that is beneficial for the protocol's functionality and the community.

Proposal

This proposal suggests burning the bought-back SIS tokens. The burn will permanently remove 251,384 SIS tokens from circulation.

Key Points

• Reducing Supply to Increase Value: By buying back and burning tokens, the protocol decreases the total supply of tokens in circulation.
• Improving Market Dynamics: Buybacks and burns can help manage and control inflation, ensuring that the token remains a viable and stable medium of exchange within the ecosystem.
• Strengthening Governance: Reducing the supply of governance tokens can increase the influence and voting power of committed stakeholders, aligning incentives and ensuring better decision-making within the protocol.