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    XCT Buyback and Burn Off-chain Proposal #1

    Citadel.one DAO Proposals
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    • D
      dirtypunk last edited by

      agree, also with the methodology of buys 👍

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      • K
        kanahebi @iamvlad last edited by

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

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        • J
          JulianPereiraXCT @iamvlad last edited by

          @iamvlad ir would be great!!! 🔥🔥🔥🔥

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          • B
            Bob last edited by

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

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              抄底比特币 @Bob last edited by

              good! 支持😁

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              • S
                Sonos21 last edited by

                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

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                • T
                  TargetD last edited by

                  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.

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                  • A
                    AlFa_C1 @TargetD last edited by

                    @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.

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                    • I
                      iamvlad @Sonos21 last edited by

                      @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.

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                      • S
                        Sonos21 @iamvlad last edited by

                        @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!

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                        • L
                          lenya_chponya last edited by

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

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                          • J
                            John last edited by

                            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.

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                            • I
                              iamvlad @Sonos21 last edited by

                              @sonos21
                              I can't agree with you on the point that early birds "get punished". It's vice versa actually.
                              First of all, users that have joined the project early enjoy high return. If keeping the rewards long term this can potentially benefit the holders in the future (in case those holders were not selling XCT at low price).
                              This time is given to accumulate while the team is working on further improvements and wider outreach to new holders and investors. Once more people know about Citadel.one DAO and start staking XCT the yield will drop.
                              So now users get more tokens but cheap price, in the future it's expected less yield but higher price.
                              Also if you take a look at our tokenomics, most of the tokens will go to circulation within next 4 years and inflation will be reducing by 0,5% each year.

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                              • N
                                nono888 last edited by

                                awesome ! keep goin guys !

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                                • S
                                  Sonos21 @iamvlad last edited by

                                  @iamvlad HI Vlad, no worries, but it is just no true that early birds are always having an advantage

                                  i am in since apy was around 1100% or so
                                  together with the decrease in APY also the price dropped considerably

                                  if you look at my current postion ( havent sold anything)
                                  i still would be better of if i just bought the total amount of coins i have right now
                                  ( so the base amount i bought including all rewards i received) at the current prices

                                  so in the end , i have not had any advantage of getting in early

                                  again, i dont wanna complain,
                                  but just to get the perspective right that

                                  my feeling is still that in hindsight, the initial inflation, while demand was not there yet, was too high
                                  thus leaving the early adaptors always with a disdavantage

                                  but lets leave it here...no reason to argue further

                                  as i said, focus on building great things, as you guys are doing!

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                                  • I
                                    iamvlad @Sonos21 last edited by

                                    @sonos21
                                    I see your point now. Thank you!
                                    Let's see how it goes with the burn and then with more product integrations.

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                                    • A
                                      Alex225 @iamvlad last edited by

                                      @iamvlad let’s get it done we want xct to fly the moon

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                                      • B
                                        Bud last edited by

                                        burn baby burn

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                                        • M
                                          mmainez.th last edited by

                                          I would like vote positive for burning. How can I do it?

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                                          • L
                                            lobrigasssm last edited by

                                            Good idea😊

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