Proposal for adjusting EMDX Tokenomics Before TGE
This proposal suggests updating the EMDX tokenomics before the TGE to reflect the changing market conditions and address the limitations of the current tokenomics.
Summary
EMDX has made significant progress since its inception, and now it’s time to take the next step towards ensuring its long-term success. While the current tokenomics of EMDX shows great potential, this proposal aims to update the framework to better address the current market conditions and improve protocol sustainability and stability.
Motivation
Token Design is one of the three pillars in the layout of Token Economics Ecosystem (together with Market Design and Mechanism Design). Under this label protocols architecture their ecosystem incentives, being one of the most critical aspects the Total Token Supply. Token economics is an ever - evolving subject and every protocol should be quick enough to adapt to changes and new standards. After getting through one of the heaviest times in the crypto industry, it was proven that protocols with lower Token Supply were more resilient than those whose featured token oversupply. Therefore, EMDX protocol might gain robustness from removing part of its Total Token Supply, according to the follow proposal:
Specification
The proposed changes to the tokenomics include:
- Cutting off current Total Token Supply by up to 50%, in different phases;
a. First 25% cut off to be done before our TGE: It would remove 25% of the total supply (meaning 250M tokens less) bringing our Total and Max Supply from 1B to 750M.
b. Further 25% supply decreasing within 1 year from the TGE, in different times and under different conditions to be defined (e.g. burning EMDX tokens when used as gas fees within our upcoming Subnet) and voted by our community.
c. After executing these 2 phases of token elimination, EMDX Total and Max Supply will both decrease to 500M EMDX Tokens.
Should we pass this proposal to MGV (Motion Granted for Voting)?
- Yes
- No
0 voters
The CMS phase is open for voting until Friday, March 10th at 2 p.m. UTC. After that time and based on the results, it will either proceed to MGV (Motion Granted for Voting) or not.
10.03.23 “Proposal for adjusting EMDX Tokenomics Before TGE” update:
Following the CMS approval, the proposal advanced to the MGV (Motion Granted for Voting) stage. Vote and get involved in shaping the EMDX future! $aEMDX Tokenholders can now vote on Snapshot
