XCT Buyback and Burn Off-chain Proposal #1

uprestes

@papamchik Go ahead with the burning

Jerzman

Good idea, we need positive buying pressure and strong hand to hodl

Phil_RX

you have my vote !

patchy420

I agree & recommend passing proposal.

dedale

@iamvlad 100% agree ! Thanks for your work, great products and communication !

cryptobike

Agree with buy back and burn, more and more people will know the real value of citadel as one of the best validators worldwide

SilverDuck

Well
that sounds promising! Lets see what will come of it. You have my full support)))))

kanahebi

This post is deleted!

dirtypunk

agree, also with the methodology of buys

kanahebi

@iamvlad
100% agree!
I've been waiting for this!
Expect price increases!

JulianPereiraXCT

@iamvlad ir would be great!!!

Bob

Great idea! I think the rapid increase in circulating supply has tempered price appreciation.

抄底比特币

good! 支持

Sonos21

Light the fire! good plan

i was thinking , wouldn't it be able to modify the smart contract so that the inflation becomes dynamic

right now, inflation of the number of coins is a 8% fixed
as there is not a lot of demand yet, because xct is not very well known yet, the new xct tokens made available on a daily basis is far more than the new demand, which leads to a, almost daily, price decrease

because of this, I ,and probably more people, am reluctant to buy new or additional xct tokens, as by design the price is decreasing, untill new demand comes in
so right now i am just waiting untill i see there is a good rise in demand and xct is picked up better by the markets

i know you have , rewarded the initial users with a high APY
but as i bought my tokens not to long after launch i can tell you
this APY does not make up for the loss becuase of the price decrease

i better could have done nothing and buy the tokens at this moment
this is not a complaint, my mistake, should have done better research

but i think that by design the inflation of 8% is limiting the growth of xct

as some way or another you should make the inflation linked to the demand of the token

just an idea

TargetD

My experience of buy-backs is that they promise a lot, but don't have much effect. Is there not a way to reward the delegators more directly - for instance increasing the rewards payout, or some kind of dividend function (either in XCT or other assets)? Otherwise I fear you simply waste a lot of funds buying up tokens which will have negligible effect on the token price.

AlFa_C1

@targetd on-platform governance proposals will be integrated on a later stage. It will allow XCT stakers to create a proposal and vote to get funds from community treasury directly into their pockets.

iamvlad

@sonos21
Thank you for your thoughts and suggestions.
I can't think of a way to make apy dependent on the XCT demand, it's also a question of how to measure this demand.
Inflation (that can be shaped by governance in the future btw) that we implemented now is kind of an industry standard. The more users stake - the less APY is. When and if switching to Cosmos APY parameters might also be changed.
We are planning to increase interest in C1 and thus the demand in XCT very soon when we launch first extensions and integrate new networks to the platform.

Sonos21

@iamvlad Hi Vlad, thnx for your reply
I understand and i wasn't saying it is an easy job
my comment was meant as a kind of "brainstorm"

personally i think, that in the field of APY a lot of gains are to be made by projects.
You can stick to the standard...which makes you "standard"...or you can try to set new standards be creating and implementing innovative contracts to create and deliver yields...isn't this was defi is about..or should be

I understand that you guys need to focus and you have a great solution...
right now, the only disappointment for me is this inflation by which the early birds are punished by design...

anyway, keep on building and doing good things

like lighting up the burn!

lenya_chponya

Good time to start burning. it will help price to grow and attract new investors

John

I am absolutely all for anything to reduce supply of the tokens.
A buy back and burn campaign may help to promote to investors.
I support the buyback and burn proposal.