Burning tokens reduces the circulating supply and balances out inflation. If we have many communities attracting ad purchases daily, that means a lot of STEEM will be burnt daily.
That's good for the token's value, right?
In the last few days, I have been thinking about this, in regards to the native ad feature. More specifically:
What happens to the tokens when an ad is paid for?
I was considering giving community owners/managers three options:
- Have the community account collect the tokens and distribute to members
- Donate the tokens to a charitable cause
- Burn them
Of all three, I am convinced that burning spreads the benefits out to more people involved in this ecosystem and it has a positive effect on what people earn in the future. It's also less complicated, as there are technical challenges (and possibly legal implications) associated with the first option.
What do you think about burning STEEM? (and SMTs, when they are out)
If you would like to help develop this, visit the GitHub repo.
For an overview of the Native Ads feature and how it will work, read this doc.