Do you have a burn 🔥 option?

Question

Reserve Protocol

UAE Lover

Do you have a burn 🔥 option?

#cryptocurrency #english #reserve

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02.10.2022

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Smeddy-o | Reserve | will never DM · Accepted Answer

It's a fixed supply of exactly 100bn RSR, no burning or minting. With ~42bn in supply now, there's ~50bn in the Slow Wallet, which is intended to support the expansion and adoption of the protocol over years/decades. Any withdrawal from that comes with a hard-coded 4 week withdrawal period, meaning any individual holder can "beat the team/protocol" in selling: "Upon initiating a withdrawal transaction, the team announces the purpose of the withdrawal either through a public on-chain message or on social media. "If RSR holders do not agree with the purpose of the withdrawal, they are able to sell their RSR in the 4-week period before the project is able to sell what they have withdrawn. The team can only access these withdrawn tokens after those 4 weeks." This following example might not be strictly accurate, but I think of it like "In 2025, a withdrawal proposal of 1 billion RSR to expand operations in [country]" - and if you felt that wasn't a good idea, you could re-allocate your funds. There's 3.2bn (3.2% of supply) which will be released over the six months after mainnet, which is "Option 2" of the release schedule.

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Do you have a burn 🔥 option?

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