Hive Images Proposal to Burn 1000 PHOTO Daily for One Year

[hivephoto]

This is a proposal asking the community of PHOTO token holders to vote for the Hive Images DAO smart contract to burn 1000 PHOTO tokens each day over a one year period between February 1, 2023 and January 30, 2024.

This proposal helps to start off the new Hive Images DAO on hive.photo while also burning some PHOTO tokens to increase scarcity.

1000 PHOTO tokens each day during the funding period will be sent from the DAO pool to @null for burning if this proposal passes.

To vote to approve this proposal please visit: https://www.hive.photo/proposals

Comments

[andy4475]

Voted .... 💯%

Posted using Hive Images

[hivebuzz]

Congratulations @hivephoto! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)

You received more than 700 upvotes. Your next target is to reach 800 upvotes.

_{You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP}

Check out our last posts:

	PUD - PUH - PUM - It's all about Power Up!
	Christmas Challenge - Offer a gift to your friends
	HiveBuzz World Cup Contest - Sponsor Feedback and Feedback Request
	The Hive Gamification Proposal Renewal

Support the HiveBuzz project. Vote for our proposal!

[fun.farms]

Now Voted !LOLZ ✅

[lolzbot]

lolztoken.com

I'm on a whiskey diet.
I've lost three days already.
_{Credit: gillianpearce}
$LOLZ

Are You Ready for some $FUN? Learn about LOLZ's new FUN tribe!
(5/6)@hivephoto, I sent you an on behalf of @fun.farms

[trostparadox]

Burning tokens is generally a bad idea, imho.

Burning tokens for a startup project is a really bad idea, imho.

---

... a steady increase in supply is a good thing, as long as that supply is finding its way into new hands -- and that probably holds true until the token becomes the world’s de facto currency.

https://peakd.com/hive-150329/@trostparadox/to-burn-or-not-to-burn-i-say-don-t-burn-crypto-or-bridges-or-witches-maybe-ducks-are-okay

[trostparadox]

There are plenty of smart folks out there who disagree with me on this.

For me, I have yet to see any convincing evidence that burning tokens leads to an increase in token price.

With that said, if burning tokens leads to less centralized distribution then that’s likely a good thing.

Putting tokens into a liquidity pool instead of burning them seems a better option. Of course you have to be able to provide the other token for the liquidity pool, so that’s not as easy as it sounds.

I wish you the best with this project!