Any talk about a fee burn mechanism on Tezos like Ethereum’s EIP-1559?
I don’t totally understand the ins and outs of Ethereum’s EIP-1559 implementation, but have long understood a core component: that it will cause a portion of network transaction fees to be burnt out of circulation.
This is extremely powerful when you consider the nature of supply and demand, and how something like this could positively impact price over time as units are minted.
A price increase partially due to a network transaction fee burn for a PoS-based network like Tezos can also help protect the network by making it harder to accumulate XTZ. If I’m not mistaken, the higher the price of a PoS-based crypto, the harder it is to attack the network.
At the end of the day, this creates a synergistic supply sink for XTZ that benefits the users, developers, and seemingly the entire network. Am I missing something with how a fee burn can positively impact the network? Does anybody know if there are previous conversations about an implementation like this in the Tezos network?