$Elon Token Burn Initiative Through Rufus

[zu101]

Abstract:
This proposal suggests implementing a token burn mechanism for $Elon tokens on the Rufus blockchain to decrease the total supply and increase scarcity, thereby potentially driving up the token’s price.

Motivation:
By burning $Elon tokens, we aim to create scarcity and increase demand for the token, potentially leading to a positive price impact. This initiative aligns with our goal of maximizing value for $Elon holders and strengthening the Rufus blockchain ecosystem.

Rationale:
Implementing a token burn aligns with the Dogelon Mars community’s mission of creating a sustainable and valuable cryptocurrency ecosystem. By reducing the total supply of $Elon tokens, we can create scarcity, which is a fundamental factor in determining token value. Additionally, using $Elon tokens as gas fees for transactions on the Rufus blockchain ensures utility and demand for the token.

Key Terms:

• Token Burn:
  A process of permanently removing tokens from circulation, typically to decrease the total supply and potentially increase the value of the remaining tokens.

• Rufus Blockchain:
  The proposed new blockchain where $Elon tokens will be utilized for gas fees and community-built dapps.

Specifications:

• Platform: Rufus Blockchain
• Technologies: $Elon tokens, Rufus blockchain infrastructure
• Mechanism: A smart contract will be deployed on the Rufus blockchain to collect and burn $Elon tokens at a rate/percentage determined by devs.

Steps to Implement:

1. Develop and deploy the smart contract for token burn mechanism on the Rufus blockchain.
2. Integrate the token burn mechanism with the Rufus blockchain infrastructure.
3. Establish governance structures within the DAO to determine the rate/percentage of $Elon tokens to be burned.
4. Communicate and educate the Dogelon Mars community about the benefits and implications of the token burn initiative.
5. Monitor and adjust the token burn rate/percentage based on community feedback and market conditions.

Timeline:

• Start Date: Immediately after the DAO vote ends
• Milestones:
  • Smart contract development and deployment: determined by devs
  • Governance structure establishment: determined by devs
  • Community education and communication: determined by devs
  • Ongoing monitoring and adjustment: determined by devs
• Completion Date: determined by devs

Overall Cost:
The total cost to implement the $Elon token burn initiative will be covered by the tax deducted from the percentage deducted from the $Elon/ETH transaction tax deductions. This tax revenue will be utilized by the developers to cover all expenses associated with the implementation, including development, governance, community engagement, and ongoing maintenance costs. An exact breakdown of expenses will be provided by the developers once the project scope is finalized.

[ccbbddcc]

let burn 50%. let burn 50%. let burn 50%.

[nasars]

It’s really a great initiative. This will make transactions cheaper and add a burn mechanism as well. 10% for Arbitrium dev donation, 20% to burn, 20% to Elon development treasury fund, 50% to staking rewards.

[Lewi]

I like maths involved in this idea

[nasars]

Thanks Sir. Higher allocation to staking rewards will encourage locking of Elons, hence lower sell supply and faster initial price boost to take off. Once we cross billion$ MC, listings on Kraken, Binance and Coinbase will take it to 10-20 billion MC.

[Andrew7307]

Burn on Eth burn on Eth

[spazmo]

Burn half the supply!!!

[spazmo]

First burn a big portion to keep you loyal holders happy then a burn mechanism

[DOGELON_ARMY]

excellent idea, an automatic burning in each transaction

[elon]

Burn 69% LFG

[JayCartMoon]

Absolutely sensational

[RacheBartmoss]

This is wonderful I truly appreciate your efforts

[spazmo]

No please. Lmao do a big burn first maybe then that would be a great idea

[Kris-hex]

Definitely burn a significant amount first setting the initiative. And with an added burn mechanism our voyage to the Mars will be achieved.

[cryptoloser]

Devs already confirmed in the Rufus TG group that Rufus will burn ELON through transactions on the chain. Here’s a screenshot of a transaction on the Rufus testnet using ELON as the currency:

Of course, if this needs a DAO vote I vote in favor!

[DOGELON_ARMY]

I haven’t seen this confirmation in the group yet, just a rumor, but I hope so

[cryptoloser]

Please join the Rufus testnet TG group to learn more about Rufus. Devs said ELON would be the gas token for Rufus in January, when the testnet went live.

RUFUS Testnet ✨

[DOGELON_ARMY]

I’m already here, until I reply to you in the Telegram DM

[MysticMelody]

where to vote for $elon burns?

[Jujutkt]

Burn burn burn burn burn