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!
For rewards the token is simply deposited into the pool by the smart contract. It's a reward being provided and not liquidity. In less than a week I'll post another proposal to provide PHOTO as distribution reward to a pool.
I don't necessarily disagree with you. If a token is created with a huge max supply and a large amount of tokens are burned then it's needlessly foolish or simple pumpnomics before a dump.
My own personal belief that tribes burning small amounts of their tokens is a good thing goes back to one of Satoshi Nakamoto's forum postings:
People are a lot more savvy in 2022 than 2011 so losing keys isn't as common. The most practical way to recreate early bitcoin folly is by consciously losing access to some tokens forever.
Posted using Hive Images