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:
What I proposed a few pages ago:
And you guys mostly seemed to agree.
Details will be like this:
Coins now: 171,000,000
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.
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.
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.
This sounds reasonable right now.
Just to see what it would look like to take the 100% stake a little further and halve the rate every four months, I came up with the figures below. My math should be checked. I figured halving is a term more people in crypto are familiar with and the numbers come out to about the same after two years. After that you can use the same 2% from then on out.
Coins now: 171,000,000
- Year 1, Month 1-4 : 100% - 228,000,000 AC
- Year 1, Month 5-8 : 50% - 266,000,000 AC
- Year 1, Month 9-12 : 25% - 288,166,666.7 AC. This is the end of Year 1
- Year 2, Month 1-4 : 12.5% - 300,173,611.1 AC
- Year 2, Month 5-8: 6.25% - 306,427,228 AC
- Year 2, Month 9-12: 3% - 309,491,500.3 AC. This is the end of Year 2
- Year 3, Month 1-4 : 2% - ...
- Year 3, Month 5-8 : 2% - ...
- ...
No idea if this is better or worse. I was just curious.
Also, I'm assuming we're talking about block numbers as to when the rates change and the months are just estimates?
)