Adding a Burn Function to SIP-010 Fungible Token Standard

#1

Hello Stacks Community,

I would like to propose an enhancement to the SIP-010 fungible token standard by including a native burn function. While Clarity provides the ft-burn? function, this is not currently required in the SIP-010 trait. As a result, developers often rely on sending tokens to the zero address, which doesn’t truly reduce the circulating supply but just locks the tokens.

Here’s why adding a burn function would be beneficial:

  1. Supply Control
    Burning tokens would provide a clear, permanent reduction in supply, helping control inflation and improve market stability.
  2. Encouraging Deflationary Models
    A standard burn function would simplify the creation of deflationary tokens, making them more attractive to long-term holders by naturally increasing scarcity.
  3. Transparency and Trust
    On-chain burn events would be verifiable and final, ensuring transparency in token supply management and increasing trust within token economies.

In conclusion, adding this feature would simplify development, encourage healthier tokenomics, and provide transparency in managing token supply. I look forward to hearing your thoughts on this proposal.

Cheers

Eriq

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