The Simple Software Solutions team have raised an improvement proposal which will make $SSS a deflationary and scarce asset along with its current low inflation tokenomics by introducing a higher coin burn rate.
The proposal is to allocate 50,000 SSS from the premine into 20 SSS Nodes (Validators) adding to the Total Value Locked in Validators.
The purpose for SSS IP01, is to provide further network scalability along with 100% of the rewards being burnt. As 5 SSS equates to 1 wSSS the equivalent amount would be burnt prior to sBridge launch adding the deflationary aspect to both blockchains reducing its total supply.
SSS IP01 Benefits:
· Coin and Token burn — Both Chains
· Deflationary mechanism
· Increased Total Value Locked in Validators
Below is a example of how many coins could have potentially be burnt for Jan 2021:
Approx Daily Reward Per Node: 5
Approx Monthly Reward Per Node: 100
Number of Nodes: 20
Total Number Of Rewards Accumulated in a Month: 2,000 SSS
Total Number Of Coins Burnt: 2,000 SSS
As members of the community feel free to cast your votes for this proposal —
Vote End Date: Monday 8th Feb 2020 @ 12:00PM UTC
VOTE HAS ENDED AND APPROVED — COIN BURN TO START FROM APRIL 2021