The founder of Synthetix proposed limiting the emission of tokens 300 million SNX

The founder of the Synthetix Defi platform Kane Warwick submitted a proposal for the establishment of a community to set the SNX to the SNX-fixed issue to 300 million coins.

According to Warwick, the inflationary model worked effectively during the launch of the protocol.

“Now that the project receives a significant and growing commission income from atomic swaps and unlimited derivatives, the time has come to curtail inflation,” he said.

Warwick recalled that in 2019 it was decided to stop the release of tokens in four years. With the established level of inflation of 2%, the total issue would be 250 million SNX.

However, further managerial decisions made changes to these parameters, and the protocol will come close to the general offer of 300 million in a few weeks.

“On the one hand, inflation redistributes the ownership of the network among those who participate in stakeing, but at the same time reduces the profitability of commission, expressed in dollars over time. The problem is that this creates constant reducing pressure on the price of SNX, ”Warwick explained.

He added that, having recorded an offer of 300 million tokens, the platform guarantees an increase in the profitability of commissions in dollars.

“In addition, Mem 300 is too good to miss it,” he concluded.

The total SNX proposal is 293.25 million tokens. According to the initiative of Warwick, the release of the asset will continue ten more cycles with emission 674 873 SNX per week until it reaches the limit.

He optimistically appreciated the chances of accepting his idea against the backdrop of the start of discussion. Officially, Synthetix (SIP), the founder of the protocol plans to make a proposal next week.

According to Defi Llama, TVL platform is $ 522 million. The protocol takes 25th place in the ranking for this indicator.

At the time of https://gagarin.news/news/can-cryptopunks-become-the-bitcoin-among-nf-ts/ writing, SNX is traded at levels of about $ 3.3. Over the past 24 hours, the token has risen by almost 9% (Coingecko). The coin course reached a maximum at $ 28.53 in February 2021.

Recall, in educational cards, Forklog figured out what control tokens are, how to get them and why they are used.

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