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:
What should be the amount of PSP that should be burned?
What would be the timings or gaps between the two burns of PSP?
From where the tokens should be burned? Buyback and burn or Team tokens.
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
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.
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).
What if… you could have an extra option to pay more gasfee, and those will be used for buy backs and burns and those who will use that option will be incentivised with either PSP or another token?
This creates involvement and it would be something new which can be used for promotion in order to get more people to Paraswap.
PS: 1inch is actually giving better rates most of the time, but the gas refunds are better organised here, as well as the community and those involved.
Rabby actually has a new function which shows the rates on 4 of the most common DEX’s when you are about to swap somewhere and 1inch is mostly on top. Didn’t want to say anything good about them, but I guess I had to and believe me; I’m washing my keyboard after writing this, haha.
I do not think that burning tokens right now would really work as intended. I think every one of us would like to see the price going up - but burning won’t lead to a proportional price increase under the actual market conditions, I guess. What we need is buying pressure and an incentive to hold the token. What about that: Right now the positive slippage is given to the user and to the DAO if positive slippage occurs (Right? - correct me if I am wrong). Why not give the user the possibility to accumulate the positive slippage dependent on the token he has in his wallet. Give the user the possibility to claim the positive slippage every quarter or when a threshold is met. Let’s assume the default is 25/75 (user/Dao) - he could get 50/50 - 75/25 or 100/0 of the positive slippage dependent on the PSP or vePSP token in his wallet (Incentive to hold). The positive slippage would be paid out ideally in vePSP that are locked for one year and that are bought from the market with the token accumulated via the positive slippage. (Buying pressure)
