DFSocial Burn Events

2 min readJan 4, 2021

Dear community,

We got an idea about how to improve DFSocial’s ecosystem and we want to share it!

As all of you probably know, our main focus will be DFSocial’s Gaming Platform. To ensure a good amount of liquidity, we are also working on more farming Vaults at the moment.

However, there will not be more staking pools than A and B. In addition, to protect DFSocial’s price from the inflation produced by staking and farming, there are 2 new burn events, one for each DFSocial Staking Pools.

DFSocial Burn Event: Once there are only 750 estimated DFSocial tokens destinated for rewarding stakers in the Staking Pool, we will announce the close of Staking Pool. Then deposits in the pool will be disabled. More than 4 days later (still to confirm), Staking Pool will be closed. Stakers will have at least 4 days to withdraw from this pool. Then, withdraws and claims will be disabled. The DFSocial tokens left in the pool ( 1500 — TotalClaimedRewards for Pool A, and 3500 — TotalClaimedRewards for Pool B) will be burnt.

Once each DFSocial burn is completed, we will publish a report in which DFSocial burned amount will be detailed.

As the maximum supply of tokens available forever decreases, we think this can counter the inflation produced by staking and farming rewards.

Statement:
You DO NOT need to unstake now nor worry about it. There are still 3483 DFS to reward stakers in the Pool B , so please keep earning them. This announcement’s intent serves only the purpose of explaining the proceedings of the closing of the staking vaults when time is due.