Voting Results Announced on XCHNG Burn Mechanism Proposal
The Chainge DAO Snapshot platform recently held a vote on a proposed $XCHNG Burn Mechanism, and the results are in. After three days of voting, the proposal was rejected, with 73% of participants opposing the suggested changes.
Background and Proposal Overview
The proposal, introduced by a DAO community member, aimed to adjust XCHNG tokenomics by introducing a deflationary model. The key changes proposed included:
- 75% Profit Sharing to DAO Stakers: A reduction from 80% to 75% in staker profit sharing, reallocating 5% to fund a buyback and burn mechanism.
- 5% Buyback and Burn Mechanism: This mechanism would use 5% of quarterly profits to buy back and burn XCHNG tokens, gradually reducing the circulating supply.
- 20% Company Retention: Maintaining the current 20% profit allocation for operational sustainability and growth.
Intended Benefits of the Proposal
The proposal aimed to balance immediate profit sharing with long-term growth by introducing a deflationary supply model. The buyback and burn mechanism was designed to add value for long-term holders while sustaining a strong profit distribution for DAO stakers.
The Community’s Verdict: Proposal Rejected
Despite the proposed benefits, 73% of the community voted against the burn mechanism. Concerns centered on reduced immediate returns and doubts about the deflationary model’s long-term effectiveness.
What’s Next for XCHNG?
With the proposal rejected, the current tokenomics model will remain in place. The community’s decision underscores the importance of collective input in shaping the future of XCHNG, highlighting the diversity of priorities within the DAO.
The Chainge DAO team expressed gratitude for the active participation and reaffirmed that every vote—whether in favor or against—drives the project forward.
