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Those responsible for validating the tonnes must decide on a proposal that could adjust the offer of coins by freezing 1 billion chips for the next 48 months before finally thawing it.
The proposal aims at greater decentralisation and, if implemented, could lead to a 20% drop in supply.
A Crucial Proposal
TON validators are getting ready to vote on an important proposal on the 21st of February. This proposal will aim at adjusting the running supply of the toncoin, and whether it is adopted, may see the token offer drop by approximately 20% by freezing them over a 48-month period. The team at TON announced the proposal on the protocol’s official Twitter handle, which tweeted,
“On the 21st of February, on @ton_blockchain, the validators will vote on a proposal to optimize tokenomics. If the proposal is accepted, the supply of money in circulation will be reduced by approximately 20 per cent by freezing it for the next 48 months and then thawing it. If successful, Toncoin's outstanding offer will be reduced by approximately 20% by freezing it for the next 48 months and then thawing it.
This proposal has the potential to impact Toncoin's market capitalization and increase Tokenomics transparency for the cryptocurrency community represented by users, developers, investors and others." In addition, it would help to increase the project's transparency and tokenomics for the wider community, which includes investors, users, developers and other projects associated with tonne. The proposal to optimize the one-tonne Tokenomics system was originally proposed on December 17, 2022.
The TON Network Tokenomics Optimization proposal was first introduced on December 17, 2022.
Greater Decentralization These dormant portfolios contain approximately 1 billion chips, which is equivalent to approximately 20% of the total coin supply. Let's assume that the proposal is adopted by the validators. In these circumstances, The total offer could fall to about $4 billion, Chips held in inactive accounts that have been frozen for 48 months, and then they're unlocked again. Right now, there are approximately 1.47 billion coins in circulation, according to coingecko data.
According to the team, the idea behind the proposal is to facilitate and increase the decentralisation of the network by reducing the control of the whale portfolios concerned. The team explained,
“The current group of active first miners could, with the amount of TON coin at their disposal, build a network of validators in 48 months and earn even more TON.”
However, the team added that only whales that have over 300,000 TON coins, valued at around $700,000, can become network validators and vote on the proposal in question. Those interested in betting fewer ton chips can do so in separate pools. The team also factored in the impact freezing of assets on such a large scale could potentially have, stating,
“The reduction in liquidity may attract new investors, but, on the other hand, the centralized control of frozen addresses may scare off other investors because of the perception that their address could be frozen at any time.”
The team also factored in the impact of the asset freeze on such a large scale, saying: The reduction in liquidity could attract new investors.
On the day of the announcement, was only able to make a marginal gain. The team also took into consideration the impact the asset freeze could have on such a large scale, "Reducing cash flow can attract new investment, but, also, the centralized control of frozen addresses may scare off other investors because of the perception that their address could be frozen at any time.”price outlook on the day of the announcement, was only in a position to gain marginally. The price of the token has remained relatively stable over the past month, rising just over 8% YTD, despite the fact that other chips are seeing significant price increases.
