Proposal Details

Info Action
Governance Action Type
ACTIVE

Implement a Constitutional Bar to the Treasury Burning Ada

27 likes
1 dislikes
13 comments
Submitted: 6 Sept 2024, 15:00 UTC (Epoch 507)
Updated: 12 Feb 2025, 03:04 UTC (Epoch 539)
# ID:39
co

collin_mav100

Submitted: 6 Sept 2024, 15:00 UTC (Epoch 507)
Updated: 12 Feb 2025, 03:04 UTC (Epoch 539)

Abstract

Constitutionally limit the treasury against actions that burn Ada governance coins.

Motivation

This action would show a complete lack of understanding of the purpose and power of this blockchain.

Rationale

The goal of the Cardano Blockchain and our governance bodies should be to use this technology to free communities from fiat manipulation.

Burning tokens to "raise the price of Ada" shows a complete lack of vision. It demonstrates that we measure our success by the amount of fiat we can attract. This is explicitly antagonistic to our core mission.

The reason we need to make this a constitutional guardrail is to make sure an entity cannot purchase enough voting power to implement this policy.

Supporting Links

No supporting links provided

Cast Your Vote

Coming Soon!

Comments (13)

nonirox
Feb 12, 2025, 03:04 AM UTC

simple and important, agree.

orwhaleian
Jan 31, 2025, 08:45 PM UTC

Let's get this passed before moonbois flood the ecosystem and burn the entire treasury. Seriously.

stumpjumper
Jan 30, 2025, 08:31 PM UTC

I strongly disagree with this on principal. Burining tokens great. It's a frictionless way to disstribute value equally and instantly to all token holders. It doesn't destroy value, just consolidates it. It acomplishes the same goal as distributing staking rewards but much simpler. It's a simple token mechanic with lots of useful applications and I hope the Cardano community can come to see this as a good idea. There is nothing wrong with wanting the price of ADA to go up. If you want people to be interested in Cardano, ADA needs to have 'Pumpamentals'. Being "inflation resistant" is fine but being hyper-deflationary is so much better. I think we should set an upper limit on the Treasury and say that once it raches 4.5B ADA (10% of total supply) all future taxs and fees will be burned. If this as implemented, I would buy a lot more ADA. If this post gets 10 Likes I will write up a proposal and we can discuss further.

lourde
Nov 10, 2024, 08:52 PM UTC

Make this an action

af
Sep 9, 2024, 09:36 AM UTC

This is a good initiative however it needs a somewhat more formal articulation. I'm sure this action item is pretty high on the ICC's roster. Also, the general community feedback appears to be against the burning of ADA so this should passs smoothly.

mr_cata
Sep 7, 2024, 08:50 PM UTC

I'm in favor and look forward to a more formal documented proposal on this.

cerkoryn
Sep 7, 2024, 06:03 PM UTC

I would vote yes on the proposed changes to the Constitution. However, we need a draft of the Constitution with the changes formalized to be able to submit and vote on it.

thiscorrosion
Sep 6, 2024, 09:44 PM UTC

This is a philosophically excelent idea but is a patch rather than a blanket framework. A fiduciary standard will make proposals of burning DOA. The constutional amendment would then be adhearence to the Fiduciary Standard.

mikerogero
Sep 6, 2024, 03:52 PM UTC

Seconded! - This is also something that is tangent to one of the question sets for the Constitutional Workshops.

Governance Space on Cardano Blockchain

Are You Ready to Participate?

Building Together to Drive Cardano Forward.