1st) Congratulations for the new listing. Bitmart is indeed a good exchange with very good volume.
2nd) I want to ask about Veil total supply: What will happen after the 300M hardcap will be reached. Miners will get only the fees like on Bitcoin case? And Why a hard cap?
2nd) I want to ask about Veil total supply: What will happen after the 300M hardcap will be reached. Miners will get only the fees like on Bitcoin case? And Why a hard cap?
Thank you!
After the 300M hard cap is reached around 2037, those contributing to the network will still earn transaction fees.
The hard cap exists so that Veil can eventually have no more coin supply inflation, which can make it more suitable as a long-term store of value. Transaction fees alone may not be sufficient to incentivize a strong network once the hard cap is reached, so we are also considering other methods of rewarding miners/stakers in the future.
If you have any more questions please feel free to ask!
Thank you for the detailed explanation.
In fact this is the question for all coins that want to cap the emission and miners to "live" from only the fees. For this to be sustainable the amount of tx needs to be huge, so the fees are correlated.
One other method could be to have a fixed tail emission + fees.
Minimizing transaction size is something that the team is looking into for the future, and was one of the requirements when deciding on the new privacy protocol Sonic. You can read about it in our