🔥 Lets Burn Some SPT Tokens Week Two

Welcome to our second week of the ongoing SPT burn. Our first weekly burn didn't generate as much upvotes / SPT rewards as I expected but we did manage to reach a respectable 1387 in total SPT rewards. This means the curators of the topic earned 694* SPT and the rest, 694* SPT (The authors share) will be sent to be BURNED!

We will continue with the *weekly burn topic for as long as SPT stake holders show support for the initiative. Total SPT burned before we started this initiative was just 4,303 SPT. Current total SPT burned is 5031.39.

I initially decided to send the burn tokens to @null but then it hit me that using the burn tokens to advertise this post via the Promotion option would be a better way to burn the SPT tokens. Burning them this way will give more exposure to our weekly topic.

SPT stake holders and content creators may not like seeing the weekly burn post at the top of the promotion page every week so I might alternate between sending directly to @null and using the Promote option as a burn mechanism. For now we will play it by ear. If SPT stake holders want me to stop burning via Promote option, I will. Sound off with your opinions in the comment section.


Original Burn Topic Post Below


Recently we went over SPT and some ways we can make the SPT token more valuable. We had allot of great suggestions that fell under the below categories,

(1) In game use cases
(2) Use cases token holders could implement
(3) Burn suggestion

To read these suggestions in detail Click --> SPT & Use Cases!.

Only the devs can give SPT an in game use case. All we can do as a group of Splintertalk (SPT) users is keep suggesting that they do so. Hopefully if enough SPT holders consistantly speak up we might get one sooner rather than later. Until that day comes there's still the two other options listed above in which us Token holders can help implement.

Before we go over what this post is intended for I'm going to give a short description of both SPT and Splinterlands. Feel free to skip past it if this isn't your first SPT rodeo.

What Is SplinterTalk?

Splintertalk is the social platform that was BUILT for Splinterlands players. For sharing Splinterlands content, you can earn rewards in the form of SPT tokens on the Splintertalk site! SPT tokens can be traded or staked to increase Splintertalk Power, which allows you to reward the content of others!

What Is Splinterlands?

Splinterlands is a digital card game created by @aggroed and @yabapmatt. Tournaments in which giveaway prizes that have monetary value are being played daily. You can start playing or investing in Splinterlands today by clicking here.

Lets Burn Some SPT Tokens (Weekly Burn)


SPT.png

This post is going to focus on suggestion (3) Burn suggestion. If you read the topic SPT & Use Cases! you will notice in the comment section that the idea of a SPT burn post sprung to mind. Well friends this is that post.

All the liquid SPT tokens this post generates will get burned. How do I intend on burning these SPT tokens? I will send all the liquid SPT tokens to @null.

What Do You Mean By Liquid SPT?

Liquid SPT is the authors share of the earned SPT rewards a post generates. This means you as curators will still earn your share of curation rewards when you upvote. I as the author of this topic will send my share (the Authors share) of SPT earnings this post generates to be burned.

I'm not sure how well received this plan will be but if SPT holders show interest via upvoting/commenting I will make this a *weekly burn post. Currently out of the total supply of SPT tokens given out to date just 0.01% have been sent to be burned. I hope to dramatically increase that percentage.


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SPT Burned To Date

WeekBURNED SPT
One693.856002
[Two]???????
Total SPT BURNED693.856002

Posted via proofofbrain.io



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16 comments
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Your current Rank (58) in the battle Arena of Holybread has granted you an Upvote of 43%

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I've never noticed an spt burn post, what account posts it on Splintertalk, I'll add it to my AV.

Posted Using LeoFinance Beta

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I (@rentmoney) create the burn post. Its a new initiative, this is the 2nd week. I burn the authors share of earned SPT.

SPT Burned To Date

WeekBURNED SPT
One693.856002
[Two]???????
Total SPT BURNED693.856002
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I'm new, so just so I understand. Burning SPT making it more valuable?


Posted via proofofbrain.io

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For SPT and other HIVE related cryptocurrency burning it would mean sending it to the HIVE account @null. No-one has the keys/passwords for the @null account so anything sent to @null can't be recovered.

Burning reduces the amount of the token in circulation. A general rule is the less of something there is, the more valuable it can become. Burning alone won't give a token value as tokens/coins usually need a use case if they are to sustain any USD value.

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