MODO OutPut Adjustment Amendment (NEW)
Motives
The MoonDoge core team has decided to adjust the output of MODO per block after careful consideration, and upgrade the tokenomics to a more deflationary fashion.
At inception, MODO is to be minted at a rate of 18 per BSC block with a maximum supply of 1 billion, which is expected to be reached in about 4 years and a quarter timespan.
1 billion of maximum supply is not a large amount compared to MODO's counterparties in the DEX vertical. However, most of the platform tokens issued by DEXes, especially the ones with farming features, are exposed to high price downward pressure due to the minting-and-dumping inertia.
In counter to the problem stated, an optimal and sustainable solution would be making MODO more deflationary.
OutPut Reduction
Effectively on November 2nd, 2021. MODO's per-block-emission will be reduced from 18 to 9.08 with 8.92 MODO per block burned at emission.
Here is the before and after comparison of MODO's output:
| Before | After | |
|---|---|---|
OutPut Per Block | 18 | 9.08 |
Burn Per Block | 0 | 8.92 |
Daily OutPut | 518,400 | 261,504 |
Daily Burn | 0 | 256,896 |
Quarterly Reduction Plan
Furthermore, MODO's output will be adjusted every quarter with a 10% reduction from the preceding period's output. The reduction plan will be reduced four times, and the community will vote whether or not the reduction will continue after that. To illustrate:
| Date of Reduction | MODO/Block | Burn/Block |
|---|---|---|
Nov 2nd, 2021 | 9.080 | 8.920 |
Feb 2nd, 2022 | 8.172 | 9.828 |
May 2nd, 2022 | 7.355 | 10.645 |
Aug 2nd, 2022 | 6.619 | 11.381 |
Nov 2nd, 2022 | 5.957 | 12.043 |
Everyone can burn MODO
The underlying technology of this adjustment is completely open-sourced. In fact, everyone can burn MODO.
The MODO tokens minted per block that are designed to be burned are allocated to a smart contract which can only send tokens to the dead address (for burn). Everyone can execute the contract on Bscscan.
Open the below link.
Connect to MetaMask wallet, click 'write' for requesting the 'executeMaxBurn' command.
MODO to be burned releases to the contract every block, upon executing the Burn command, all the accumulated MODO tokens will be sent to the dead address once for all.
MODO burn address:
Last updated
