Quote from: MaGNeT on November 27, 2020, 11:31:33 PM

Quote from: Turing on November 27, 2020, 09:30:44 PM

Quote from: holydarkness on November 27, 2020, 06:38:24 PM

Quote from: Turing on November 26, 2020, 11:34:17 AM

The RFI black hole already holds over 471,000 RFI tokens and keeps expanding,
decreasing the total amount of 10,000,000 RFI in circulation with every transaction.

What is the rate of token burn and where does the amount generated from? The 1% fees were distributed entirely to holders, wouldn't that mean there were no other token left to be sent to the blackhole (nice address, by the way)?

The rate of burn is now 1% of the transaction fees that are burned in a (472,000 / 10,000,000) ratio.
Fot the first week that was about 3,300 RFI tokens a day that are burned, but that has decreased for obvious reasons; more people are holding their stake.

The future is hard to predict; the black hole grows, holding a bigger stake it will eat up a bigger chunk of the fees.

But when price goes up, you can expect more but smaller transactions, so the burn may actually slow down.

Holding RFI has 2 advantages for a holder: receiving fees + deflation

I think the return (and so, the burn rate) for the past 2 days has dropped a bit. Less trades / volume. Price still steady in ETH.

Still crazy high return in fees. What my bank paid in 1 year when interest was high, I now receive in one week in RFI transaction fees.

im curious to see what the fees will be when volume picks up.