Hi team!
Is there a plan to use DAO tokens for token buy backs or burning? Many DeFi projects use the DAO wallet to increase price every month by reducing supply or buying it. Are there any plans to do this with DDOGE tokens?
Welcome to the Degen DAO community eDubb.
I’ll answer the question in 2 parts.
- DAO Token burn
While we have seen some projects implement a token burn strategy to reduce circulating supply successfully, the degen team does not currently have a plan to burn DAO tokens. We felt that the DAO tokens could be deployed in other areas that may be even more effective in supporting the ecosystem and community. We think this topic would be excellent for a future governance proposal to see what the degen community thinks.
- DDOGE Token buyback
We have strongly considered a token buy-back model, but not with the DAO wallet specifically. This presents a problem of attempting to time the market in order to maximize the effectiveness, and we are a group of builders, not traders. Token buybacks can attract regulatory scrutiny, so we would have to be absolutely certain of the regulations in our jurisdiction before moving forward with a buyback model.
We would love to hear what the community thinks about both of these topics.
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I’m typically not in favour of token burns. It tends to obfuscate supply. While it does have a potentially positive impact on price, it’s more likely that the DAO funds could be used in a more strategic way.
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Not really my area of expertise, but burning DAO tokens seems wasteful. Just my 0.2c 
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