The problems with BD is the high supply and tokenomics. the babydoge community is the populace and the token is it’s economy. The economy thrives on transactions, these transactions fuel projects, burn tokens and raises our value. If we see no transactions, we just stagnate and the community loses hope, interest and then value drops. In a sense our high supply is more like a debt, our burns help pay this debt. Monthly burns is just a short term solution, no different from a countries government doing quantitative easing to help the economy stay afloat while it recovers. so for babydoge community its great in the bear market but we need to think of a more stable long term. we need the token to do the work and not rely to much on our goverment(babydogeteam) to prop us up. some tweets from the team i believe reflect this but are not really addressed in higher detail.
Sure Higher tier CEX or any CEX in general is a great short term solution but unless a CEX adapts to the BD tokenomics they hurt the community in the long run then the short term gains we will see. Once a CEX is saturated with the token they will stop buying and all the transactions done in there exchanges stay there. They will get high amounts of Reflections and dump it back into the community which hurts the BD retail economy.
Reflections program is probably one of BDs best weapons but its a double edge sword. unless we have more jobs(utility) those who own alot will inflate the economy faster then we can deflate it since the job market is thin.
For starters i feel we should help educate the new populous thinking of joining the BDC community about DEX vs CEX. How to use and set up a wallet etc. Yes… I know there is alot of information out there about this subject, but people are to lazy, don’t have the time to look up this info or just confused or overwhelmed with it all. Some are also miss informed cause they believe a CEX is a safer place or they use it cause its one click and done.
I feel if we can make a fun interactive tutorial using the babydoge characters on the advantages,how to create a wallet uses and dangers of a DEX vs. CEX it would create more Wallet holders creating more transactions to help fuel the economy.
also, not sure if it is possible or not but having options to where one can delegate their reflections. like for example to the burn pool or to a charity wallet, etc. One of the things that helped BD see its boom was with the animal charity. if possible have a auto feature set up where someone who wants to donate to a charity can use ones reflections to one of BD choices.
honestly some people don’t care about crypto, investing or for reflections in general. if BDC for example shows that someones reflections from their 100.00 over time will go to a charity then its like feeling im constantly able to give without having to commit more money etc. This can help curb that guilt factor of not being able to donate more cause of life situations that can make money tight in a household,on top of that their investment has the potential growth, then they can either down the road cash out or use it as a lump payment to a charity.
their investment can grow and on top of that help a animal charity will seem like a great deal and idea.
Investing doesn’t always have to be for monetary gain, one can also be altruistic with it. on that note, for people who just want to invest for charity purposes if its possible to make a Dapp that will allow minimal effort with an auto setup that someone who does not care for crypto can use or for someone who owns crypto but wants to keep there wallets separate from this. for example if i wanted to use 100.00, fill in the required info and the Dapp would set up my wallet and delegate my wishes for where i want my reflections to be used in. for example i want 50% of it to go to charity A, 20% charity B etc. dapp would also show the related info and progression bars, goals etc. it would give me the related info on how much reflections is generating for said charity on a personal level and a community level from others using reflections in the same charity or for every charity on the Dapp and so forth. Also at some point lets say my investment gained 200% i could allow the dapp to delegate a certain amount to said charity of choice.
The utility of all this would be all the micro transaction that happen in between, it would help create a passive eco system that could possible elevate higher as time goes on if marketed properly.
What are everyone’s thoughts about this?