How exactly does less tokens overall mean less staking opportunity?
No matter the denomination, your overall ownership percentage as part of the total supply does not change.
If you own 0.0001% of the total supply today, that won’t change if everyone else has 100x less tokens.
At the time of writing this post, there’s close to 12 billion minted tokens, and that’s without the 3rd lockdrop. This seems like a ridiculous amount and will result in opening price of fractions of a penny.
Same as how having too low of a supply is not good because of the high price, the same stands for the other extreme - having too big of a supply.
Which is why I fully support a redomination of the total supply.
There are a few options:
10x - would still translate to a supply of over 1.2+ billion. Still a bit high in my opinion.
100x - translates to 120+ million tokens. Seems like a good balance.
1000x - 12+ million tokens, this is what Sota mentioned initially. I don’t mind it personally but reading some of the comments here I think the community wouldn’t like it too much, maybe we should wait for more feedback.
While I agree with the notion that the price plays a part in the psychological factor of price barriers, I’ve also witnessed that these sentiments break down with time and could also have a counterproductive effect.
Such as eliminating the USD value barrier with high supply but developing a satoshi value barrier because instead of $1, $10 barriers, you get for example 100 sats, 1000 sats barriers, in the end that’s basically the same psychological side-effect.
I know because I’ve held LINK in 2017 and $1 (or even 10000 satoshi) was a barrier of sorts back then, but like I said these barriers deteriorate and higher ceilings develop over time, of course assuming a healthy and successful project.