As the mainnet launch 5 month, we can see that the supply for mantle is more than the demand. As community member, we maybe can have some burning mechanism to decrease the supply to enhance the value to mantle.
Mantle supply can be create and current supply is more than demand. Hence we need something burning mechanism to increase the value for mantle
With the implementation of the London hard fork and EIP-1559, Ethereum introduced a fee-burning mechanism. The base fee for transactions is automatically calculated according to the network’s demand, and the excess fees are burned by sending them to an inactive address ( ETH burning mechanism can as our reference to reduce the supply)
You’re right. The team really need to look into this and do something about it.
Yes, I think there needs to be a clearer and more transparent way of destruction.
Yes, I also think some token burning mechanism is needed to reduce the supply of tokens on the market.
Comparing market liquidity with OP and ARB, the supply of MNT is too large, and long-term investors in BITDAO have no substantial profits but only losses.
Hopefully the team will join the plan to reduce market tokens.
we sold too much $MNT to the market. buyback is needed to make $MNT more valuable to holders
BITDAO repurchased it twice at that time, which had no impact on the currency price. The left hand is to buy back and the right hand is to sell.
When converted to MNT, the amount of currency in circulation increases from 1 billion to 3 billion.
The quantity on the market must be burned in a planned way to achieve a substantial increase in currency prices.
The current problems facing the Mantle team are:
1: Lack of financial support from Bybit
2: Although it is known as the world’s largest treasury DAO, in fact 75% of the $MNT in the treasury is worthless, and the remaining funds are about 6
3: There are too many currencies circulating in the market and the market value is too large.
The above issues have attracted the attention of KOLs in the Asian currency circle, and no one dares to mention or recommend the purchase of MNT.
The Mantle team must overcome these difficulties in order for the currency price to rise.
I think so, too. Many people believe that the total supply of $MNT is too high. that doesn’t appeal to them to hold
we can see as the decrease of supply may work on (bitdao) which already burn 90% of token ( Now as a Meme Coin) . The price of bitdao is increase so easily
we need a more sustainable way to enhance the value of MANTLE. Product with higher price have higher value. This is a logic which show from bitcoin and Ethereum.
I suggested we may burn the gas fees on the chain transaction and repurchase the mantle from the market with USDC (109M) or USDT (23M) and burn the mantle to the burn address 0x000000000000000000000000000000000000dead
get vote now sir. it will help ecosystem growth up
we need a more specific discussion on this and having a solution for burning mechanism
vote? , it’s not that the DAO Mantle team won’t let your vote pass, they have a large amount of MNT on hand
why they do that ???. i think they want to mantle growth up. get vote to build mantle
Maybe we can burn the collection of gas fees and maybe 1% of current supply every month
I mentioned gas burning when I was in BITDAO. The Mantle team never listened to investors or faced up to past mistakes. It’s better to go back to Bybit’s platform currency