Founder of the Synthetix futures trading platform, Kane Warwick, offered twelve new strategies to stimulate the next phase of the project. Specifically, he proposed a “splitting and buyout of SNX”, which involves splitting SNX at a ratio of 3:1, and then buying and burning.
Kane stated that these initiatives are aimed at empowering Synthetix and encouraging greater community member participation.
Warwick explained that doing a 3:1 split will result in around 90 million additional tokens that will be used for redemption and subsequent burn. The market value of these tokens is estimated at $60 million. The founder also noted that the funds needed to carry out the incineration will be taken from the profits received from treasury fees.
Another proposal called “core stakeholder leveling” aims to incentivize project members by distributing Synthetix Network Tokens (SNX) as quarterly bonuses. According to Kane, such a strategy can ensure the continued commitment of the participants to the success of the project.
Summing up all that has been said, Warwick stated:
Source: Cryptocurrency
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