wake
@wake.eth
Moxie has in-built burn mechanisms that actually work. A few days ago there were ten thousand million moxie in the world. Now there's five million fewer. Keep going. 🎩 Ⓜ️
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Mikado
@mikadoe.eth
What does it mean? Burning Moxie will avoid price droping?
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wake
@wake.eth
Maybe. Reducing total token supply reconcentrates the value held across fewer tokens. ie, if there are 100 moxie tokens total and the mcap is 100... and we burn 20% for 80 tokens remaining... if the mcap holds constant, token price /must/ increase. markets are more complicated than that, of course.
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Mikado
@mikadoe.eth
Got it thanks
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