Burn 100% of SAUCE buybacks daily

Request for Comment
1
  • Title: Burn 100% of SAUCE buybacks daily
  • Author(s): SaviorofSAUCE
  • SaucerSwap Voting Interface: [Link specific to the proposal]
  • Related Discussions: [Link to related discussions]
  • Submission Date: April 22

Main Paragraphs

  • Summary: Each day burn 100% of SAUCE buybacks at noon. This would help pump the price of SAUCE and limit selling pressure
  • Specification & Rationale: Increase the price of SAUCE
  • Benefits (Pros): Increases the price of SAUCE every day, making holders SAUCE more valuable
  • Downside (Cons): Single-Sided staking APR would be 0%, but price will go higher so you still earn
  • Voting:
    Yes - Burn SAUCE to increase price
    No - Don’t burn SAUCE to increase price
2 Likes
2

i would be behind this seems like a good idea

3

lets start phase 2 and get the ball rolling

4

The proposal is to burn buyback $sauce.

It means when $SAUCE buyback burns are executed, a portion that would have gone to xSAUCE holders is instead burned, reducing their direct rewards. This means xSAUCE holders, who have the most voting power, are effectively giving up value for this proposed burn (i.e. Community allocation)

It isn’t distributed equally to all $sauce allocation, which lowers the incentive to hold xSAUCE.
Even though fairness in burns isn’t in this main proposed issue.
It’s important to highlight the impact on the CURRENT community’s largest stakeholders, which is $Xsauce holders.

5

I agree lets do this 100%