To this proposal could be added the following proposal:
Instead of sending 10% to a dead wallet, add it to the GoodReserve in form of G$ or DAI. All this automatically.
By the way, we don’t have enough GOOD to reach this proposal to votation. We need someone with much GOOD to make the votation proposal.
Modification of proposal:
GIP: 16
Title: Implement a deflationary mechanism to reinvest 10% of UBI sent daily, sending it to GoodReserve
Author: Cesar Cordero
Status: Stage 2
Track: Meta/Tokenomics
Created: 2023-10-19
Summary:
Reinvest 10% of UBI sent daily, sending it to GoodReverve
Description:
Implement a deflationary mechanism to reinvest 10% of UBI sent daily, sending it to GoodReserve. For example, today G$ sent 3M G$ as UBI for all claimers, then we will reinvest 300,000 G$ today, to GoodReserve.
For each transaction we send 20 G$, for example, then 2 G$ to GoodReserve, in total it was used 22 G$.
Reducing the distribution for claimers goes against what we’re trying to do, in my opinion.
Our goal should be putting more tokens in the hands of claimers, and bringing more backing for the token to the protocol
For instance, getting supporters to buy G$ and immediately burn their tokens would be a much better mechanism to drive token price up and ensure financial empowerment of claimers.
I’ve listed more ideas in the comment I left on your other thread: [GIP-17] Increment the value of UBI shared to a representative value equal to 5 USDT daily per user - #12 by pedrosa.eth
2 Likes
In case you want to burn G$ on Celo by your own, you can use the Dead wallet multichain:
0x000000000000000000000000000000000000dead
This is the version in Celo:
https://explorer.celo.org/mainnet/address/0x000000000000000000000000000000000000dEaD