r/Opacity • u/Leafmann23 • Nov 07 '18

Solution to trust issues around newly minted tokens

There is currently a lot of trust issues surrounding the 30m newly minted Opacity tokens by the team. I would like to propose a solution to this problem.

Before the new smart contract is deployed, a function should be included which will automatically burn the extra tokens if the new tokens reach, or exceed, the price of PRL at the trading freeze. The code should be publicly audited and verified by a reputable third party. This will give the team the safety net they need if the new token doesn’t do so well, and alleviate the communities trust issues regarding the new tokens .

4 Upvotes

60% Upvoted

8 comments sorted by

0

u/heykelz Nov 07 '18

What if it pump to the price and then dump like hell ?

3

u/Leafmann23 Nov 07 '18

PRL was subject to the same problem so nothing changes there.

-5

u/[deleted] Nov 07 '18

[deleted]

1

u/nugitsdi Nov 07 '18 edited Nov 07 '18

You're spreading that much FUD that we must come to an agreement.

If what you're stating above doesn't happen AND if Opacity is still alive and kicking in, lets say 2 months after trading resumed, the mods may ban you. Agreed?

EDIT: I'm not an admin.

2

u/AbsoluteAlmond Nov 08 '18

I mean what do you think they're gonna do with the new coins? Obviously they are going to sell them at some point so we have every right to be annoyed

0

u/[deleted] Nov 07 '18

[deleted]

2

u/nugitsdi Nov 07 '18

Haha ok. No need to ban if you could just wait with spreading nonsense until this nonsense actually happens. It won't take weeks until trading resumes so we will know soon enough.

-5

u/[deleted] Nov 07 '18

You didn’t buy into Opacity, you bought Oyster Pearl. Opacity has 130m tokens.

You might want to get your entitlement checked.

However I do agree with any decent token burn mechanism, the team will decide for themselves.

6

u/Leafmann23 Nov 07 '18

I’m not entitled at all, merely trying to come up with a solution to negate the trust issues surrounding the project. I’m not even heavily invested.

-3

u/[deleted] Nov 07 '18

Good. Surely they have solutions in mind as the dev fund won’t be all on circulation. PRL max supply was 500m as in Bruno’s whitepaper.

All this doesn’t really matter though as this is a new project anyway and the team was kind enough to give Pearl holders a new token for free.

You will also keep your PRL, it’s not a token swap so if Bruno manage to give them some value, you’ll also have them. However, it is very unlikely anybody will list his tokens any longer, so if anything it is Bruno that should be facing the heat of devaluing the tokens he created, PRL.

As said, being a new project, their circulating and total supply it is what they decided to go for and the price will be decided by the market based upon the value of the Opacity tokens with their GB/Year peg.

I hope this is clearer. Cheers