Child Doge Coin, the meme-based cryptocurrency, has proposed a large 100 quadrillion token burn and a 0% price discount on Ethereum transactions in a bid to bolster safety and improve the challenge’s integrity
In accordance with a tweet from the official Child Doge account, the proposal has been submitted for voting by the decentralized autonomous group (DAO) governing the challenge.
The initiative additionally features a 0% price discount for transactions on the Ethereum community. If accredited, this may very well be one of many largest token burns in historical past, with an estimated worth of lots of of tens of millions of {dollars}.
The proposal seeks to deal with considerations relating to the potential exploitation threat of 100 quadrillion idle tokens for the reason that challenge’s launch on the Ethereum community.
By burning these tokens, Child Doge goals to make sure long-term stability and safety inside its ecosystem. The initiative would additionally protect some tokens for bridging to Ethereum, whereas lowering transaction charges on the community to 0%, offering a extra environment friendly and cost-effective expertise for group members.
If the proposal receives overwhelming assist from the Child Doge group, the official plan might be submitted for consideration by the DAO.
The token burn is scheduled to happen on June 1, leaving roughly 85 quadrillion Child Doge tokens that may be bridged to Ethereum.
Nonetheless, one draw back to this proposal is that if one thing had been to occur to the Binance Sensible Chain (BNB), solely 85 out of 155 quadrillion Child Doge tokens would be capable to transfer to the Ethereum community.
It stays to be seen whether or not the proposal will cross and whether or not the burn could have any affect on the value of Child Doge token.
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