Dear Community (Important):We need to finalize our decision on
PoS staking rate of the coin. We put this up for debate many pages ago and a lot of you shared your ideas. I will try to summarize:
- The majority of you invested in the coin mainly of its high stake rate in the first year and named it as its main feature: therefore we will honour it.
- However, a lot of you raised concerns about the future and sustainability of the coin with a very high interest rate, which is a valid point. The original developer did not think about the future of the coin, and we don't think his decisions were in the interest of long term survival of the coin
- Sudden change in the staking rate is NOT good for the coin as it creates a sudden change of its most significant specitication.
What I proposed a few pages ago:
I personally think a swift change PoS rate from 70-100% to 2-5% is not a good idea, it's a very big change for a coin and its specification. I very much prefer a more slow gradual decrease on shorter intervals (e.g. instead of jumping from 100% in year 1 to 2% in year 2, we can do a slow decrease every 1-2 months until we get to 2% within 2-3 years).
I don't think the original developer thought about the long-term PoS issues of the coin, this is evident from the code he wrote but this is something that we need to decide.
And you guys mostly seemed to agree.
Details will be like this:
Coins now: 171,000,000
- Year 1, Month 1-2 : 100% - 199,500,000 AC
- Year 1, Month 3-4 : 80% - 226,100,000 AC
- Year 1, Month 5-6 : 60% - 248,710,000 AC
- Year 1, Month 7-8 : 40% - 265,290,666.6 AC
- Year 1, Month 8-10: 30% - 278,555,200 AC
- Year 1, Month 10-12: 20% - 287,840,373.3 AC. This is end of Year 1
- Year 2, Month 1-2 : 15% - 295,036,382 AC
- Year 2, Month 3-4 : 10% - 299,953,655 AC
- Year 2, Month 5-6 : 8% - 303,953,037 AC
- Year 2, Month 7-8 : 6% - 306,992,568 AC
- Year 2, Month 8-10: 4% - 309,039,185 AC
- Year 2, Month 10-12: 3% - 310,584,381 AC. This is the end of Year 2
- Year 3: 2% - 316,796,068
- Year 4: 2%
- ...
- Year 10: 2% - 363,899,103 AC
- Year 100: 2% - 2,162,700,201 AC
Note: These numbers are the
maximum, if 100% of the coins stake all the time. This will not be the case obviously. So the actual total coin numbers will be significantly less but there is no way to know as we don't know what percentage will stake. This new staking system will be unique to our coin too, adding innovation to our investments!
I ask to postpone other discussions now to when we agreed to PoS staking rate, as this is what we need to decide on urgently. We can't do a poll as the thread is not self-moderated. That was essential for building trust.
Please let us know if you agree with this, and of course (even more importantly), if you disagree. It's a good idea! But it is too elaborate, confusing (to the vast majority of people), and even more complicated to implement for you!
I would go for something more simple and effective
I agree. Keep it as simple as you can to get the best impact. For the first two years, adjust every six months. After that keep it constant.
The first period of six months should be the most attractive to attract the largest number of investors. Interest rate of 60% to 100% is a great selling point. Make it very simple and easy to understand. Avoid potential confussion as much as possible.
This community has been doing an outstanding job. Our industry needs a lot more people like you. There is nothing wrong for the community to join force to save their investment and that of others who innocently invested their hard earned dollars in Asiacoin. You are an inspiration to all of us. I will do what I can to support your efforts. For full disclosure I own bitcoin and various altcoins including Asiacoin. I am also the cofounder of DNotes and Cryptomoms.
I respectfully disagree.
General population does not react well to any sudden changes especially in crypto world.
A gradual, more frequent, but equivalent to the original rate, would be much better.
Although the only advantage of this is to mollify the effect of sudden changes caused by the original 100% to 2% adjustment yearly, I think it is a big big advantage that outweighs the downsides, i.e "too elaborate" for average people to grasp.
People use banks, deal with APR all the time. I am sure any average person can just take like 2 mins to read the PoS rate schedule and will grasp the most of it.
