Burning Tokens, A devilish game!
Today I had an idea. What if I burnt tokens, What better way to try this idea out that in a Sloth like fashion, SlothBurn tokens!
So the idea is simple.
Buy a token.
Burn 40%!
Sell 60%
Use 80% to reinvest
20% for Staking/Delegating
The basic concept is there, on paper it works. Can it really work? Will the Token hold it's price enough for the system to develop? Will there be too much buy/sell pressure to keep up?
Only time will tell! If nothing else, we'll use this account as a buy wall for certain tokens, burning a % along the way! Everyone on Hive is trying to Earn more, lets burn some for the fun!
Fresh account for easier tracking. Weekly burn / trade report and hopefully no other actions! If I use tags, does it burn their token also? Never tried the burn feature so here goes nothing!
Imagine this on a smart contract, constantly buying, burning and staking tokens, creating a better economy for all! Hopefully allowing the price to rise instead of constantly diluting!