PSP Burning Mechanism

Summary

Paraswap is currently giving the best ever rates in the market right now. The PSP token introduced for governance is also doing very good things all around. But the value of the PSP is constantly declining, which is stopping new people to have faith in Paraswap. Unknowingly not allowing Paraswap to go to its full extent.

If everybody agrees and brings the burning mechanism in the PSP network it would help regulate the supply and thereby stabilize the price. This process in turn will bring new users and hence more volume to the Paraswap network.

Key Points to Discuss:

  1. What should be the amount of PSP that should be burned?

  2. What would be the timings or gaps between the two burns of PSP?

  3. From where the tokens should be burned? Buyback and burn or Team tokens.

9 Likes

Yes, nice topic. Burning is must, so as to increase value of PSP.

3 Likes

I agree with the buy back psp but with witch money ?

I think you the buy Back token can in part growth the paraswap’s treasury. Not necesery all the buy back

I absolutely do not see the need for burn … it’s a fad …

the best projects do not need to burn … it should remain exclusive to crypto which have an unlimited supply like ETH, BNB, CAKE, etc …

1 Like

Those mentioned projects doesn’t have “Unlimited” supply

totally disagree … after psp$ airdrop there is some bad feeling in defi community about paraswap … time will wipe out it …we need to still be in top 5 dex’s and working on some incentivize programs like volume rewards, staking gifts, specials nft’s and so on

1 Like

Eth bnb and cake dont have unlimited supply ? :sweat_smile::rofl:

1 Like

The total supply of Eth and Cake is unlimited you can check in coingecko.

Yes thats what i said…

I don’t think that it would be a good idea. We are in an early stage of the DAO and the market isn’t in a good shape, I mean let the time goes and you’ll see that the PSP Token would be much more appreciate than it is right now.

5 Likes

yep , im in , due to the nosedive of psp price that is more than acceptable percentage and its frightening to the holders. i think that’s the good idea ( it does not necessarily mean that we burn a significant amount percentage).