A portion of NEKOIN ecosystem profits will be set aside to purchase Nekos.
Purchasing Nekos and sending them to an escrow wallet will both reduce NEKOIN’s supply as well as increase its demand.
Sending the Nekos that are bought back into a burn wallet will make NEKOIN deflationary and improve its intrinsic value. As long as demand stays the same or even increases, the value of NEKOIN will naturally increase. This in turn will incentivize holders to hold onto their Nekos since the tokens become more valuable over time.
Instead of sending buyback Nekos to a burn wallet, the Nekos will be sent to a smart treasury wallet. Nekos in the treasury can be reissued to reinvest into the NEKOIN ecosystem, incentivize productive capital, increase participation, reward user interactions and much more. Buybacks still socialize profits to NEKOIN holders while increasing the ways NEKOIN can reinvest in itself.
Creating a buyback feature for NEKOIN and socializing profits makes it functionally more similar to a security. While less similar than issuing a dividend, depending on new government regulations, NEKOIN can potentially be subjected to more government oversight.
Voting will be done on the NEKOIN site. Voting will occur on chain using the same smart contract as the donations vote.
No. Hold off on implementing buyback. Reassess in the future.
Yes. Set aside 10% of NEKOIN ecosystem profits for buyback. Implementation will be voted on next.