This idea is coming from Shanchie Capital.
We are opening this draft with one aim in mind and that is burning and locking more and more $MNGO. As the NFTs are one of the most important thing in crypto now and also the trend. We recently saw Mangoheros built out an cool NFT project for Mango Markets and lovers. We think we should support them more by bridging the NFT holders to contribute for more deflationary $MNGO tokenomics.
There are 7000 Mango NFTs that will ever exist. What if make these NFTs money minters . Now the IDEA is to let the guys who hold both NFT and $MNGO lock their tokens for 5 years with 1 million tokens every year as reward for the guys who lock their tokens.This way we can get more and more $MNGO supply locked which will surely result in price increase as the market demand for $MNGO grows. Once we offer these to mangoheros we can also ask them to raise the mint price from 0.5 SOL to 2 SOL and then we can use 1.5 SOL to buyback and burn $MNGO. There are only 2000 minted now and 5000 nfts. We can also get an tax opposed on NFT transfers like send , deposit , Buy , sell which will be payed in SOL and contribute to MNGO burn.
This proposal is kind of hard to understand.
There is a locking mechanism coming soon for governance purposes that will be unrelated to the NFT.
It’s unlikely this proposal would be supported.
Ditto. This reads like “spend MNGO promoting the MangoHeroes NFT”.
Hey Shanchie Capital, we appreciate you for thinking about our project and trying to set up a long-standing connection between Mango Heroes and Mango Markets! We don’t really understand the proposal you’re making though, could you explain some of these points out a bit more?
This seems like a very weighted argument without an explanation of each section of focus. What are the “money minters”, what are the reasons for locking tokens, what benefit would there be from us raising our mint price and in turn pricing out some of our community?
I think this is a genuine post to discuss rewards for our NFT holders, but this needs a lot more work before it can be accepted IMO. We’d love to speak with you guys in the governance channel of mango or in the mango heroes server, but I agree with the other replies that this wouldn’t be supported.