Summary
This proposal aims to establish a mechanism whereby 100% of transaction fees generated on the Rufus platform will be used to purchase and subsequently burn Dogelon Mars (ELON) tokens. The goal is to reduce the circulating supply of ELON, potentially increasing the token’s value for existing holders.
Proposal Details
- Fee Collection: All transaction fees generated on the Rufus platform will be accumulated in a dedicated fund. This includes trading fees, withdrawal fees, and any other applicable fees.
- ELON Purchase: Periodically, the fund will use all accumulated fees to purchase ELON tokens on the open market. The exact period (daily, weekly, monthly, etc.) will be determined based on a cost-benefit analysis to minimize impact on the token price.
- ELON Burn: After purchase, all acquired ELON tokens will be immediately burned - that is, sent to a burn address from which they cannot be recovered. This effectively reduces the circulating supply of ELON.
- Transparency: To ensure trust in the implementation of this proposal, all transactions related to fee collection, ELON purchase, and ELON burn will be public and easily verifiable on the blockchain.
Expected Impact
The implementation of this proposal could potentially increase the value of ELON by reducing its circulating supply. However, the exact impact on the token price will depend on a variety of factors, including the transaction volume on the Rufus platform and the overall conditions of the cryptocurrency market.
Please note that this is just a proposal and its implementation would require more in-depth technical and economic analysis. Also, any changes to the fee structure or token mechanism of a cryptocurrency platform should be made in compliance with applicable laws and regulations.