Here’s an idea. Instead of burning tokens for no apparent reason. Why doesn’t somebody come up with a way to lock them away for a set period of time making them unavailable. Till the token becomes in demand. If it doesn’t then lock the set amount of tokens back up for a longer duration.
Or make a token with a capped supply, and do a hold on a certain percentage of tokens that only get released yearly or whatever time frame.
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Ha nice that's a fascinating idea.
It only has one problem: it requires oracles.
These oracles would tell the network how much the token was worth in terms of USD.
Funny story: Hive already has these oracles via the price feed and HBD mechanics.
Would probably be very easy to implement something like that here.
It won’t happen because it’s a good idea. If they didn’t think of it, then it will never happen.
Well I mean it's a permissionless network anyone could create a token that does this.
I don't think Hive should do it directly.
That's too much risk to introduce to the main chain.
Who decides what gets locked and what price it gets unlocked?
Much better suited to test it on the second layer and see if it works first.
Ok. It would work if it’s executed correctly. Not a bad idea.