Token

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/wing-dao-implements-community-driven-adjustments-to-token-economy/" data-wpel-link="internal">Wing DAO Implements Community-Driven Adjustments to Token Economy</a><br></p>
<p style="text-align: justify">Today, crypto projects focus on achieving success and sustainability through a community-oriented approach. In this context, Wing DAO operates under a governance model based on community voting for decision-making processes. Notably, governance proposals WIP-04 and WIP-08 have brought changes to the WING token economy.</p> 
<h2 style="text-align: justify" id="wing-token-s-token-economy">WING Token’s Token Economy</h2> 
<p style="text-align: justify">The WING token was initially introduced with a maximum supply limit of 10 million tokens. This limited supply was designed to promote value preservation and scarcity. The main outlines of the token economy were as follows:</p> 
<ul style="text-align: justify"> 
 <li>The initially set maximum supply of 10 million tokens was designed as an unchangeable and absolute limit.</li> 
 <li>Total supply is calculated by subtracting the number of burned tokens from the number of minted tokens.</li> 
 <li>The circulating supply includes tokens that are active for trading.</li> 
</ul> 
<p style="text-align: justify">Wing DAO adopts a decentralized governance model, ensuring that important decisions are made through community proposals and votes. This democratic approach aims to allow every stakeholder to contribute to the project’s <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">future</a> and development.</p> 
<h2 style="text-align: justify" id="wip-04-and-wip-08-adjustments">WIP-04 and WIP-08 Adjustments</h2> 
<p style="text-align: justify">Following community feedback and voting results on WIP-04 and WIP-08, significant changes were made to the WING token economy. According to these changes:</p> 
<ul style="text-align: justify"> 
 <li>A decision was made to ultimately reduce the total supply to 5 million WING tokens, achieved through token burning and adjustment of distribution rates.</li> 
 <li>The process of burning 1 million WING tokens was initiated, and distribution rates were adjusted to slow down the new token issuance rate.</li> 
 <li>The process of reducing the total supply is carefully managed through a systematic burning mechanism.</li> 
</ul> 
<h2 style="text-align: justify" id="monitoring-third-party-data">Monitoring Third-Party Data</h2> 
<p style="text-align: justify">In a statement by the project, inconsistencies regarding WING’s circulating and total supply were observed on third-party platforms like CoinMarketCap and <a href="https://en.coin-turk.com/binance-announces-support-for-optimism-and-arbitrum-network-upgrades/" data-wpel-link="internal">Binance</a>. The Wing team stated that they are working to correct these inaccuracies and called on the community to report inconsistencies on other platforms to maintain accurate and transparent information.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-354783 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/blockchain-81-1.jpg" alt="" width="740" height="415"></p> 
<p style="text-align: justify">The dynamic adjustments made in Wing DAO’s token economy highlight the importance of community governance and the project’s commitment to sustainability. The changes following WIP-04 and WIP-08 emphasize the community’s influence on the project’s direction and its dedication to maintaining a valuable token ecosystem.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/wing-dao-implements-community-driven-adjustments-to-token-economy/" data-wpel-link="internal">Wing DAO Implements Community-Driven Adjustments to Token Economy</a></h5>

Wing DAO Implements Community-Driven Adjustments to Token Economy

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