Burn UBI to extend PoH proof

The more UBI you burn, the more you can extend the validity of your proof. Maybe with a year cap?

This could be a very good next step integration between both mechanisms. Helps new users fund the reward for the next generation of users.


What happened to this discussion? I think it would be great at this time to continue with this idea because burning UBI can be a good idea to give value to the token and at the same time renew the identity of a lot of people. Hay que retomar esta idea! no?

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Someone needs to draft a HIP and take it to vote.

Instead of having a cap, a quadratically increasing cost could be interesting.

Extend by 1 month = Burn 100 UBI total
Extend by 2 months = Burn 400 UBI total
Extend by 3 months = Burn 900 UBI total
Extend by 1 year = Burn 14400 UBI total
Extend by 2 years = Burn 57600 UBI total

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This is not possible with the current contract PoH implementation.
This would result in circular security dependencies, plus reliance on DemocracyEarth’s UBI DAO, that has unlimited power over UBI token.