AIP 5: Token Burn

Migrated from AIP 5: Token Burn · Issue #5 · airswap/AIPs · GitHub

Summary

This AIP counters AIP #2 , which proposes an airdrop for existing token holders, and instead, proposes a significant token burn to coincide with, or be announced with the relaunch. The concern is that an airdrop will result in significant sell pressure and destabilise the project at a critical juncture.

Specification

Once accepted, a date will be announced to burn a yet to be determined number of undistributed tokens. All tokens that were designated to be included in the airdrop can instead be included in the token burn.

Voting. The vote will be to execute a trial token burn of 100K AST. Vote on this proposal at https://vote.airswap.io/

Rationale

This proposal aims to ensure the long-term viability of the project and reward token holders, without creating potentially destabilising sell pressure.

Copyright

Copyright and related rights waived via CC0.