As outlined in the latest update from Numio here, PhoenixDAO have been working closely to implement the most advantageous use cases and utilities technically achievable at this stage and we’re all extremely excited (these implementations carry lots of considerations, something that might seem like an obvious isn’t achievable once you start to work out the detail) as these are now locked down ready for launch!.
A key area in which PhoenixDAO is going above and beyond is on the 10% buy back & stake implementation. This sees Numio buying $PHNX from the secondary markets and staking those PHNX for a full 365 days which is exciting for a number of reasons;
- Increasing buy volume on the markets
- Taking tokens out of circulation
As part of this same model, Numio will be donating their 20% staking reward to the PHNX community pool in order to support the long-term sustainability of PhoenixDAO. In addition PhoenixDAO have decided to contribute to this donation (finer details to be shared at a later date) in hope to increase the pool size and at a much quicker rate. PhoenixDAO will then periodically (finer details to be shared at a later date) using the DAO allow the community to vote on what happens to the tokens locked in this pool. This might range from promotion rewards, community distribution, burn, we want to give the power to you. We will see benefits vary depending on the outcome of each vote however, to list just some;
- Distribution of foundation tokens (key to decentralization).
- Decreasing total circulating supply.
- Token rewards for our community.
- Incentive to increase the DAO user base.
Can’t wait for everyone to finally be able to get their hands on the Numio solutions!
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