now if you keep them in a wallet
Shit Punk Says
Oceans of Wisdom
19,158
matching drops
#1459158
2026-09-22 15:17
it is effectively providing liquidity so the infrastructure grants can be cashed out
in the fullness of time, we can go anywhere
scattering liquidity is unhelpful
better to get big and successful in one place
but i would not rush
yes in time
would stream mint to any chain or just mainnet? and the network proceeds from stream burn the tokens as well
it is not an in-network ponzi
here there is actual ETH coming in from actual art science etc
and end up just ponzing
it is just 99% of burn narratives are self-reflexive
people understand the burn narrative
should be network wide
there is a % factor we decide on emissions
yes
so the mint proceeds buy and burn the tokens and then the proposal distributions come from new emissions?
burns $6529 token
"where does the ETH go"
it is also a simpler narrative
using tokens on other chains to buy and burn is probably simpler / cleaner
i think we keep voting proposals distribution on our chain
the memes could go to any other chain too in the future
and in principle
it is not just 5 ETH to simo or whatever
if on mainnet that adds some complexity
remember the idea is proposals get voted on but you can direct your eth to whatever one you like
there is another issue
if you distribute the ETH then people have to claim it on mainnet eventually
which I want to
particularly if you let people direct their share directly
has some gas issues if things get large
we could just distribute that % as ETH and use the rest for buyback
presumably in your method
but your method may work too need to think about it
1/ validate and earn $6529
2/ some % goes to pay for network infrastructure in $6529
3/ mints use ETH to buy and burn $6529
i was thinking this
maybe
i was thinking about doing this from the validating but this is cleaner
oh that is interesting
1M 6529 tokens bought back. 100K distributed to proposers to grow the network (e.g. Formosa). 900K burnt
what distribution?
and the only person getting an income in this case is whoever is getting paid to do something
in terms of how much we have to spend
if the ETH is used to buy $6529 it should end up being about the same thing
ah this is my point to consider: they get paid in $6529
ah this is my point to consider: they get paid in $6529
so I thought people would submit proposals to grow the network
sure
like BTC
$6529 is created only by validating
i don't understand this proposal concept
we are not going to run out of tokens
if you burn the tokens then how do you grow the network
it is the stock buyback vs dividend tax story all over again
it is better that the protocol disposes of the ETH without changing people's $6529 balances
I am pretty sure we have ordinary income in most tax systems