This is an open discussion topic for the tokenomics of the Omchain, as I’ve written on another post before the current situation is;
I meant we have 330 Million (more or less) to be allocated. They are currently allocated for staking + burn + team.
100 M for team (we will ask for burning all of them)
65 M for burn event (it will be burned, spared for that)
45 M for airdrop
120 M or so for the staking pool.
We can re-adjust the allocations by voting on the web app. Feel free to share your opinions.
In total our supply is 495M and roughly 140-160M of them are already allocated (meaning it’s either at users’ wallets or in staking pool or tresury)
Just to make sure there is no confusion, I don’t mean that we will burn 330M tokens. I am saying that existing circulation is 140-160M or so. And we have 330M tokens not allocated so far. I am asking how it should be allocated.
You will still have incentive tokens but you don’t have to give 1000 or 10000 to the participants. You can still give 10 or 100 omchain if the price reaches a certain level. We will be happy to sell our tokens to new holders if they really pay for it.
You can still reserve a certain amount for exhange listings and I don’t think anyone will object to that. It makes sense that you can use some part of that 45 million Omchain for such issue but not for people who constantly get airdrops and dumbs them on us. You can even give them to some lets say well-known and respected influencers. Their followers will easily buy Omchain once they talk about our project.
For the staking issue, we definetely need to lower the APY if we want a have sustainable staking program. Cause once the tokenomics have been updated and some part of the supply has been burned, the APY will become really high considering that the price of the Omchain.
One last thing, there should be a different system in terms of speaking. I mean when you lock your tokens for a year lets say, it should not be possible to unlock them. And those holders should be rewarded differently in this sense.
I don’t think there is any selling pressure. There is a shortage of buyers. When I look at the board, I can’t get coins. There are so few on sale that I am pushing the price up 30% with 1000 dollars. In my opinion, staking revenues should not be reduced. maybe a special percentage of income can be given to lock periods. this seems like a good method for staking.
What would you think for us to do market making operations especially on the sell side? Not huge amounts but some amount so price won’t be pushed 30% and sellers wouldn’t be dumping immediately? We can adjust a sell wall with some amount of tokens, and income earned from those sales would ONLY be used to buy back OMC when the price drops our average sell price.
In this sense we would give potential investors some tokens to buy without price skyrocketing, and have some funds to buy back when it drops drastically.
I would prefer you have a buy wall. It is normal for a crypto project to skyrocket if mcap is 700k $ only and half of the circulating supply is locked in staking. I think we should not pay attention to price skyrocketting as it will be stabilized as our mcap gets bigger.