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RE: STEMGeeks burn report - 89.2% burned this week - July 29th 2022

in LeoFinance4 months ago

I observed a nice price hike from 0.01 to 0.029 Hive, I think it might be the reason token were burned almost 90% of total pool rewards. Less supply more demand and keeps the ecosystem in balance.

99% of STEMM burned so just 1 % in the market, and I saw they were having an ask price of 9.9 Hive.

So, how will STEM distribute author/curator rewards once the reward pool is empty?

Thanks

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 4 months ago 

It's a bit more complicated than that.

While the weekly reward pool is being mostly burned, a lot of this burning is from rewards that were gained in other weeks (being sent to Ape Mining Club game). Most of the rewards are the 75% burn of posts that were not made on Stemgeeks.net, but there is a good amount coming from wallets that were gained previously.

It means the token burn is not all from the reward pool but also from other sources contributing to stemgeeks.net.
Seems, very complicated to me, I should read the whitepaper to learn more about tokenomics. Thanks for the reply.