Activate the M013 Burn Pool (Phase 1): turn network revenue into a standing REGEN burn — no chain upgrade

$REGEN Coin
1

Following the mint-params fix now in voting (#64), here is the market-side companion:

Start M013 Burn Pool now, using only stock modules.
No chain upgrade. Effective the moment governance passes it.

What it does

This is a single governance proposal that:

  1. Enables uregen distribution in x/protocolpool.
  2. Creates a continuous fund streaming 15% of community-pool revenue to a burn address.

That 15% figure is a governance dial.

The revenue source is community-pool revenue from validator block rewards: inflation plus fees. In SDK 0.53 x/protocolpool, continuous funds are pushed to the recipient each block, so the burn share flows automatically and continuously until governance adjusts or cancels it through MsgCancelContinuousFund.

This is the Economic Reboot’s M013 Burn Pool, bootstrapped against what the chain already has.

Why now

Every block, REGEN inflation dilutes holders for security we are currently overpaying for, as discussed in #64.

This proposal routes a slice of that same revenue into standing deflationary pressure: the “buy/lock pressure for REGEN” the WG has wanted, tied strictly to real network activity.

It requires no new code, starts small, and scales only with actual network revenue. That keeps the mechanism bounded and prevents it from over-promising.

Honest scope

Please hold me to this distinction:

Regen Ledger does not yet have a supply-burn module, so Phase 1 does not reduce the total_supply metric.

What it does do is remove REGEN from circulation by streaming funds to a provably keyless, permanently unspendable address. That is a real, on-chain-verifiable removal of circulating REGEN.

The full total_supply reduction comes later with the complete M013 x/feerouter + x/supply upgrade in Phase 2.

Phase 1 de-risks Phase 2 by proving the cadence, routing, and governance controls live first.

Dials for discussion

There are two main parameters to settle:

  1. Burn share
    Current M013 figure: 15%
    Floated range: 15–35%

  2. Recipient
    Option A: keyless burn address for a fully on-chain circulation burn.
    Option B: keeper address that can additionally buy-and-burn non-REGEN marketplace revenue through DEX routing.

Everything is bounded, adjustable, and revocable by governance.

The two messages

Authority: x/gov

  1. /cosmos.protocolpool.v1.MsgUpdateParams
{
  "authority": "x/gov",
  "params": {
    "enabled_distribution_denoms": ["stake", "uregen"]
  }
}
  1. /cosmos.protocolpool.v1.MsgCreateContinuousFund
{
  "authority": "x/gov",
  "recipient": "<BURN_ADDRESS>",
  "percentage": "0.15"
}

Summary

This lets Regen begin M013 immediately with existing chain functionality.

It does not pretend to be the final burn module. It is a live Phase 1 mechanism that creates continuous, visible, governance-controlled deflationary pressure now, while preparing the path for the full Phase 2 supply-burn implementation.

Validators and Staking Yields
2

Update: This is now on-chain as Proposal #66. Voting ends July 25.

Vote here:

https://ping.pub/regen/gov/66

Submission tx:
887837F0D3C09C0A6606DB16D49AEBCC930FFC83E47D31B6A31913F541116CD2

After nine days of open comment with no objections, I submitted the proposal using the defaults outlined above:

  • Burn share: 15% — the Working Group’s own M013 figure. This remains a governance dial: a future proposal can raise, lower, or cancel it using MsgCancelContinuousFund.

  • Recipient: the null address (regen1qqqq…vptr3e) — provably keyless, with no keeper and no trust placed in any operator, including me.

What happens if it passes

Proposal #66 enables uregen distribution through x/protocolpool and creates a continuous fund that streams 15% of community-pool revenue to the burn address every block.

It requires:

  • No chain upgrade

  • No off-chain code

  • No operator

  • No ongoing payments or trusted intermediary

Honest scope

This permanently removes REGEN from circulation, but it does not yet reduce the reported total_supply metric.

That accounting change arrives with the full M013 x/feerouter and x/supply upgrade in Phase 2.

Relationship to Proposal #64

This is the market-side complement to Proposal #64, which passed unanimously last week and is already in effect.

  • #64 slowed issuance: inflation is now live at 7%, down from 10%.

  • #66 creates standing removal: network revenue is continuously routed out of circulation.

Together, they are the two immediately executable halves of the Economic Reboot that require no new code.

Validators

This does not reduce validator commissions. The 15% stream comes from the community-pool share.

CLI vote:

regen tx gov vote 66 yes --from <your-key> --chain-id regen-1