Let's try this again lol

Dear Sneed community,

We are excited to present our proposal for the burning a large amount of Snoge token ($SNOGE) as requested by Sneed community members.

As a meme coin inspired by the success of Sneed and other community-driven tokens, we believe Snoge provides value not just for the ecosystem of ICP but also as a governance rewards token for Sneed holders. Distribution of the token will be performed by the Recursive Liquidity Loop to reward Sneed holders for voting on proposals.

Current Token Details:

Name: Snoge Ticker: $SNOGE Token Standard: ICRC1 Decimals: 8 Current Total Supply: 1,000,000,000 Burn or Transfer fees: 0.0005

Proposed Tokenomics Enhancement:

We propose to execute a significant token burn event as a celebration of the Recursive Liquidity Loop being fully operational.

This "Bon-Fire" 🔥 event will signify a new beginning for the Snoge token and its tokenomics.

Amount to be burned: 677,777,778 tokens New Total Supply after burn: 222,222,222 tokens (NEW)

100M $SNOGE is available to swap on ICPSWAP and after the Bon-Fire the remaining 122,222,222 will be used for rewards from the RLL to Sneed DOA voters on proposals.

This burn event will commemorate a new beginning and rebirth for the Snoge token. This milestone will be featured prominently in Snoge's new roadmap and serve as a powerful marketing moment for both communities.

Benefits of Integration:

Community Alignment: Sneed holders are rewarded a token with better tokenomics, aligning Snoge's success with the broader Sneed ecosystem

Structural Flexibility: Leveraging Sneed's DAO structure allows for community-driven decision-making

Marketing Momentum: The "Bon-Fire"🔥 burn event creates significant publicity and demonstrates commitment to the partnership

Ecosystem Growth: Snoge contributes to expanding the Sneed DeFi ecosystem with reduced supply and increased scarcity

The symbolic reduction to 222,222,222 tokens not only creates scarcity but also provides an attractive numerical foundation that resonates with both communities. This burn mechanism demonstrates our commitment to long-term value creation and partnership with Sneed.

Upon approval of this proposal, we commit to executing the burn event transparently and working closely with the Sneed team to ensure seamless integration. (For real this time) The "Bon-Fire"🔥 campaign will serve as a joint celebration of this new partnership.

We believe that Snoge under the Sneed umbrella, combined with this significant supply reduction, will provide unprecedented confidence to holders and establish a strong foundation for future growth.

(The previous proposal passed with flying colors! The reason for this new proposal was due to the amount of tokens to be burned has changed. Please see to it this proposal passes to start the burning!)

Thank you for your consideration.

Propsal written by CannabisKing#1761 (Discord) aka Christian Garcia

This proposal was created using https://ic-toolkit.app

Proposal to execute nervous system function:

Nervous system function:

NervousSystemFunction { id: 2001, name: "burn_old_tokens", description: Some( "Burn the specified amount of old tokens gathered on the canister.", ), function_type: Some( GenericNervousSystemFunction( GenericNervousSystemFunction { target_canister_id: Some( 5ceyv-syaaa-aaaag-qc43q-cai, ), target_method_name: Some( "burn_old_tokens", ), validator_canister_id: Some( 5ceyv-syaaa-aaaag-qc43q-cai, ), validator_method_name: Some( "validate_burn_old_tokens", ), topic: Some( TreasuryAssetManagement, ), }, ), ), }

Payload sha256:

5548ceff1d34ea937ea8335db16e0e120feac8dc18a1f7f330b37f4f9b3a3195

Payload:

burn_old_tokens