Hi, everyone ! I have a suggestion. What will happen if we reduce PNG total supply and making it 10x less than AVAX total supply ? I suppose this will create an incentive to hodl PNG against AVAX price actions which is one of the main dump factors. MHO
One more thing: I think that we shouldn`t compare PNG to UNI or CAKE. Because Ethereum and Binance are old chains, but AVAX is new and price discovery phase is on and AVAX price increase affects PNG negatively. I think that PNG total supply as a governance token is too much, when comparing AVAX position in the market with Ethereum and Binance. MHO
If you reduce supply to 72 000 000 that would leave you with only 413± days left of rewards. If you lower the PNG rewarded ammount to liquidity providers and price doesn’t go up the APY of non PNG pools will go down, thus not incentivating liquidity enough (IMO)
Thanks for reply Surgeor. What if we reduce rewards also proportional to the reduced total supply ? Maybe some of our community members think that I am trying to find ways to pump the PNG. But it is not. I am also for healthy growth. I know that C-chain integration with exchanges is more important than this one. I just wonder what are the governance and economical reasons for 538 000 000 PNG total supply as a governance token?! I know that someday PNG will also rise in price. But if total supply will stay as it is now, ie close to AVAX total supply, it will always be under the pressure of AVAX. We have to make PNG supply and burn mechanics in such a way, that, it will grow in harmony with AVAX. MHO.
Burning would be more progressive, but it would take off a % from liquidity rewards. I think this topic interesting and encorage you to discuss it over the pangolin discord or telegram (since community is much more active there than on the forums).
I like the idea of burning, so burning a percent that then puts a deflationary pressure on the token.
I personally think that LP rewards are good but they are also creates too much inflation with such a huge supply. AVAX community is not too large as Ethereum or Binance community. So we have to support PNG community formation at this stage. Once again, PNG supply is too much. mho.
Agree with all this.