Speaking over the weekend in a surprise AMA from Ethiopia, Cardano founder Charles Hoskinson called a viewer “another idiot” following his question about plans to burn ADA.
Recently, rumors of an ADA burn have been building. But as explained by Hoskinson, token burning is a fruitless exercise that won’t achieve what burn proponents expect.
Why burning Cardano won’t work
In setting the record straight on ADA burning, a visibly frustrated Hoskinson pointed out that burning ADA requires someone to lose out. What’s more, the concept of token burning isn’t built into the tokenomics of Cardano.
“Why do people think it’s possible to burn ADA? It’s not, it’s not. I own some ADA, you guys have some ADA. To burn ADA you physically have to forcibly confiscate ADA from somebody and destroy it.”
Broaching the possibility of whether devs can incorporate token burning into Cardano’s tokenomics, Hoskinson dismissed the idea as contrary to what Cardano is all about – stabilit
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