XCT Buyback and Burn Off-chain Proposal #1

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.

iamvlad

@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.

nono888

awesome ! keep goin guys !

Sonos21

@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!

iamvlad

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

Alex225

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

Bud

burn baby burn

mmainez.th

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

lobrigasssm

Good idea

thisguycryptos

Lets do it, I vote yes!

MetaSri

This post is deleted!

MetaSri

Let's vote.

GerBallesteros

Estoy de acuerdo, apoyo esta propuesta.

RedSheep

we absolutely support this proposal