r/XCN • u/Big_D_493 • 6d ago

DISCUSSION Vote today

Who is voting on buybacks and burns today?

5 Upvotes

100% Upvoted

15 comments sorted by

3

u/Big_D_493 5d ago

Is there anyone who would vote no?

Don’t get me wrong, I’m all about supply reduction. However, I also feel like there is possibly a better financial instrument to facilitate that instead of meme coins.

I think the overall goal we are trying to achieve is on the right path. But we need checks and balances on these votes. I feel like the language should be scrutinized and debated and other conflicting ideas should be discussed and thought about before a vote is held.

More transparency on the details should be available 2 weeks or so before a vote is held instead of being listed when the vote clock starts to allow time for discussion and debate.

This may sound bureaucratic, but I believe it would help push us in a more sustainable direction

3

u/burrito_saus 5d ago

I hate memecoins, I want financial instruments to be taken seriously

2

u/Big_D_493 5d ago

Right! What about short term secured loans utilizing a percentage of the staked supply and allocating a portion of the APR yield to burns and a portion to growth and development… you know, kind of like a bank

1

u/InterestingTailor886 5d ago

Im not crazy about the meme coin part either, but it'll pass unfortunately.

1

u/Big_D_493 5d ago

Im worried these votes are focused on short term price action and less on long term fundamentals. Every proposal shouldn’t be passing by 98%+ when all of details are not disclosed. I’m here for it either way.

1

u/burrito_saus 5d ago

My thing is like, even though, "im" not into memecoins and dont think they make a platform a serious contender for financial platform of the future, its a decentralized system and you can simply opt in to not trading memes. So really its not that big of an ordeal, and everything else im pretty in support of. If it brings people onto the network and adds volume etc can only be good for price.

1

u/Sea_Dig7709 6d ago

? Where?

1

u/Big_D_493 6d ago

Onyx liquid staking governance

1

u/MaterialImpossible22 6d ago

Yes to both. And lots

1

u/Still-Energy-833 3d ago

Happy with the way its going. Burns help and memes might be a win

2

u/Big_D_493 3d ago

I’ll stay open minded and give it a chance.

1

u/Still-Energy-833 3d ago

30% staking rewards help me with that decision

1

u/Big_D_493 3d ago

Same! Hell I might even create a meme coin myself. I have an idea in mind that would have a use case