Everyone has already written about the basics of Statera, so there's really no point in trying to repeat all that in the hopes of putting a different spin on it.
So instead I'm going to just propose a few potential use cases for deflationary tokens.
1) A Pension Fund
Imagine that a contract is tied to a fixed amount of value. When the smart contract supply reaches zero, that value is released to the users who hold the funds.
Let's say there are 100 holders of the token and the supply has burned to zero. This means that then smart contract executes its value transfer function, giving the token holders that value.
Instead of the token being able to be purchased, it could be issued by a company. And the transactions could be built in and timed, based on the movement of time and not on the movement of funds via wallet transfers.
This could be calculated all before hand. The pension would be immutable. Maybe the contract has ETH stored on it that is released, or another token that could be exchanged at a bank as a proof of identity for the funds.
2) A Video Game
Ok think something like World of Warcraft. Now, as players level up their characters, there is a single burn of the token supply. As the supply continues to dwindle, more things become unlocked in the game, say, new weapons or dungeons or bosses or areas. Once the burn continues past a certain point, it could force a global pause, requiring all the players to perform a certain action until the process can continue.
This would add in a layer of permanence to everything in the game. Items earned at supply of X.Y% would forever be bound to that time, never again created. Items created at Y.Z%, etc.
The burn function acts as a timer to the game, and when it reaches zero, there is a global event. The process of burn can be grinded, but also perhaps paid by players using micro transactions, resulting in an event that benefits all players.
3) An Online Scavenger Hunt
Similar to the pension idea, but this one is open to everyone, and this uses multiple tokens, not just one. As each one deflates, a riddle or clue is given, leading to the next token to burn to zero. The brun process could be tied to games, not necessarily complex, or to actions.
- "Take a picture in X global location"
- Picture verified = burn of X%
- Next requirement
- Burn of Y%
Each verifier or the riddle or action gets their ERC20 address logged, and will be given a fixed percent of the endgame reward.
Just some ideas. Thanks for the Statera team for hosting the contest and rewarding people who write on this platform.