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Degen Foundation Seeks Community Input on PHASED DEGEN Token Burn
BlockBeats News, July 29th, the Degen Foundation officially stated that the foundation currently holds 32.5% of the DEGEN token supply. While this fund could be used for future airdrops (such as Degen applications or other projects), it would dilute the existing holders' stake. The foundation needs some DEGEN tokens to support development, but may not exceed 30%. Such a large token supply has raised concerns among new users about future inflation.
The Degen Foundation has proposed a phased destruction of DEGEN tokens, steadily burning tokens each month until reaching a sustainable long-term development supply level, while also rewarding long-term holders. The foundation will not burn its entire holdings, but this will alter the tokenomics and may potentially eliminate any large-scale airdrops in the future, seeking community feedback on this matter.
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