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Exclude null address from supply queries (Proposal 551)

Open JohnnyWyles opened this issue 1 year ago • 1 comments

Background

There is currently no mechanism to burn tokens on Osmosis. One is required to account for the additional OSMO generated during the mistiming of the thirdening event this year.

Suggested Design

@ValarDragon suggested excluding an inaccessible address from being included in supply queries, thus creating a burn address. This address would be osmo1qqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqmcn030 which is the osmo bech32 translation of the null address.

This can be confirmed with osmosisd debug addr 0000000000000000000000000000000000000000

Acceptance Criteria

A user can dispose of tokens by either a burn transaction or performing a bank send to osmo1qqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqmcn030 Any tokens in this address are not included in any supply queries.

JohnnyWyles avatar Jun 22 '23 16:06 JohnnyWyles

This has passed governance: https://www.mintscan.io/osmosis/proposals/551

JohnnyWyles avatar Jul 10 '23 08:07 JohnnyWyles