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The Degen Foundation is seeking community feedback on the phased burn of the DEGEN Token.
BlockBeats news, on July 29, the Degen Foundation officially announced that it currently holds 32.5% of the DEGEN supply. Although these funds can be used for future Airdrops (such as Degen applications or other projects), this would dilute the rights of existing holders. The foundation needs some DEGEN tokens to maintain development, but it is unlikely to exceed 30%. Such a large supply has raised concerns among new users about future inflation. The Degen Foundation proposed a phased burning of DEGEN tokens, steadily burning tokens each month until a sustainable long-term development quantity is reached, while rewarding long-term holders. The foundation will not burn all holdings, but this will change the tokenomics and may eliminate any large-scale Airdrops in the future, and opinions from the community are being sought on this matter.