Burn all Community Treasury Funds

Another proposal from Telegram.

The proposal would be to transfer all community treasury funds to the zero address.

2 Likes

Personally, I don’t think this is a good idea. The community treasury will likely have over $100 million worth of tokens. Those tokens could be used to fund community members to further develop the project or even donated to a real-life Pangolin wildlife protection fund.

BUT Pangolin is community driven. If the community wills it, so shall it be.

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This is obviously a very bad idea.

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Yeah, agreed there might be uses for the Treasury further on. And we can’t expect development to always happen for free.

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I think part of the thinking is that this would decrease the circulating supply of the token so would make the token more scarce and therefore more valuable for existing holders. I don’t think it’s at all clear that this would make the token price go up, in fact it could backfire. Taking away a huge portion of governance functionality could definitely kill demand.

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i also think its a very bad idea, community treasure should be used to develop the ecosistem further, our main goal is to increase volume and liquidty TVL.

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Burn it, it had one purpose, and it was to be airdropped, if no one claimed then i think its better that it be gone…
People can make donations for development or for those protection funds.

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With burning the only thing you get is just optics. To make it look more scarce. Burning or no burning those tokens will stay out of the cir. Supply if the community wants.

With burning what we are really doing is taking away the possibility that the community funds projects, marketing… In the future. And we take that possibility away in exchange for nothing really

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Exactly! If no governance proposals pass, the funds won’t go anywhere anyway. I’d much rather spend that money rewarding community contributors, hiring real admins, funding Pangolin 2.0, etc.

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its very very early but just the idea of pangolin 2.0 is very nice jajaja.
i also have a question, png is a avax-eth assets DEX, this means that we are limited to just avax-eth? or could we have more chains connected to the dex if avalanche creates more bridges?
I think this question is very relevant and strategic because of the polkadot ecosystem, from what i understand they will have polkaswap DEX lunch in march, having a chain with polka assets and capturing that volume/liquidity could be a huge move.

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I recommend to distribute those tokens to the investors to cover impermenant loss . They support the project so community can support back.

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Pangolin can support any ERC20 on Avalanche. If we create new bridges (we’d certainly like to), we can list more tokens.

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Disagree with burning for the following:

Pangolin needs to offer PNG rewards for providing liquidity to more token pairs. As we currently only have decent liquidity for tokens with PNG rewards.
With rewards for more token pairs there would be an influx of liquidity to many tokens, allowing real use of the exchange.
This would improve the utility and usability of Pangolin and increase volume and demand massively.
It gives people an incentive to pay the bridge fees and risk some IL.
If we reward any pair with PNG, it would create liquidity between all tokens via PNG, while creating much more demand for PNG, which would be a win-win for everyone.

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Would be nice to drop some to some real world Pangolin Wildlife Protection Fund, maybe via some monthly donation for a period of time, not just in one dump :smiley:

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Doing an “any pair” policy is a little risky. Anyone could mint a shit coin and use it provide liquidity. You need some way to tell the difference between real coins and shit coins.

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Doing anything but burning will simply lower the value of the PNG held by the community. I would suggest taking a page out of the Bitcoin playbook and just say these coins are lost forever.

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Yeah, I agree, not any, just many :smiley:
And maybe some are just rewarded for a short period of time, to allow PGLs to get back from what they spent bridging the assests etc.

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If the PNG are put to good use, it would increase demand for PNG by a higher factor than it would increase the supply of PNG.

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I don’t like the idea of burning them either. better to make good use of the unclaimed PNG (for community rewards, contests, hire/pay devs, etc.). But also maybe make a spending roadmap, so that people can be sure, that all those PNG do not land on the market in a very short time.

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I believe in a 50 - 50 mechanism … 50% burned and 50% treasury for future developement and marketing exchanges etc…