Topic: [ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B - page 741. (Read 1192344 times)

Ok, I understand now.

Unfortunately that's the situation if the notary node wants our guaranteed subsidy. There's no perfect solution.

The notary nodes need to think hard where they set the required subsidy. If they set it to 100%, then in other words they say that they are not willing to take the financial risk and cannot operate the node with just 90% subsidy.

It's not perfect, but the best solution we came up with.

...
We can do the newsletter subscription lottery this week! I'll announce the winners here, and send them email.

I come to understand what he says.

But with his idea of elections
A much more obvious example.

90% subsidy remaining after the 7th node.
8th node 420000 votes 100% subsidy
9th node   39000 votes  90% subsidy

Winner on 9th when he does not have 10%  of votes than 8th. The subsidy becomes the most important point.



This seems very unfair neither democratic to me.

Votes do matter. In some cases a notary node might cost $300 - 500 / month, and those could not be set up without winning a spot with 80-100 % subsidy.

Also some nodes won't get elected even if they need only 0 % subsidy, because we have a maximum number of 16 notary nodes per region. Right now there are 20 notary node participants in EU region and 21 notary node participants in NA region. If you don't get enough votes, you won't get elected.

In these first elections when Komodo is quite unknown and there is a lot of uncertainty the elections are not that big of a thing. Majority of the participants will get elected. However, if the KMD price rises above $0.25 the situation will be very different. Thus there might be a lot of competition in the future elections, and a lot more campaigning done by the notary node candidates.

In the example that you put:
https://bitcointalksearch.org/topic/m.16985638

Mike has more votes but the elected is Tom.
How does that explain?

Because with that same format
for example: Only 10% of subsidy remains after 8 nodes.
9th 100 votes 60% subsidy
10th 90 votes 78% subsidy
11th 81 votes 90% subsidy
12th 70 votes 15% subsidy
13th 1 votes 0-10% subsidy

13th node is elected. I think votes are not worth anything.

I'm a bit unsure what you are asking, but

You can vote with your coins and get the good/stable notary node operators elected. You won't directly gain anything from the voting process itself.

What role will our tokens play in this node?I mean what is the gain for a small token holder like me?

I think after listing on exchange. there are some dumps for fiat with big inverstors because They have more bonus coins (25% or 30%).

There is 2.5k BTC from the crowdfunding and 7k BTC from BTCD. Anybody who is not expecting a dump the few first weeks is a lunatic. Jl777 and co have been accumulating BTCD for months. Komodo is their exit pump. 3/4 of the theorical value of Komodo will be comprised of BTCD bag holders. Gl with that

We simply guarantee a subsidy for the notary node, so that they stay in operation. Without a guaranteed income we could lose notary nodes if the KMD block reward would not be enough to cover their expenses. $500 is enough to cover all the expenses.

We discussed this in Slack, see: http://sprnt.slackarchive.io/elections/

Before we start we value KMD at 0 $.
Good image for investors before the delivery of KMD valued at 0 $.
At a minimum, these KMDs should be valued at the price of ICO. 100% subsidy does not mean $ 500 spending.

1btc = 10000 KMD ICO price use this for elections too

Thanks

Notary Node Election Details

We will use the ICO funds to guarantee a certain payment for the notary node operators. In this way we will ensure that we will have quality notary nodes and our network is reliable.

There will be 32 - 64 notary nodes. We will ensure funding for at least 32 notary nodes, but there could be up to 64. Each region has its own election and its own budget, thus each region will have at least 8 notary nodes and an equivalent budget.

Each notary node candidate can decide themselves how much guaranteed subsidy they require to run a node. They are able to set this figure for each node they operate, and it can be anything between 0 and 100 %. The full 100% subsidy means that they need a guaranteed payment of $500/month.

The total guaranteed amount is $16,000 per month, or $4,000 per month per region. In other words we could say the total guaranteed amount is 3200 %, or 800 % per region.

Each candidate must publicly announce the subsidy required, and that may affect how people vote. Who ever gets the most votes wins the election and is guaranteed to be able to run a node. The subsidy percentage they require is subtracted from the total budget, which is 800 % for each region. This process will continue until all subsidy is gone. The end result is at least 8 nodes per region, but probably more as some candidates won't need a full 100% subsidy.

An example

Region A has 6 candidates with 400 % subsidy. [for simplicity, but we will have 800 % subsidy]

After election we count the votes, and the result is as follows:
1. Alice - 211 votes (subsidy: 100%)
2. Bob - 190 votes (subsidy: 100%)
3. Charley - 187 votes (subsidy: 50%)
4. Dan - 122 votes (subsidy: 75%)
5. Mike - 88 votes (subsidy: 90% )
6. Tom - 51 votes (subsidy: 50% )

-> Alice is the winner, and gets elected, 300% subsidy left
-> Bob finished second, and gets elected, 200% subsidy left
-> Charley gets elected, 150% subsidy left
-> Dan gets elected, 75% subsidy left
-> Mike does not get elected, not enough budget
-> Tom gets elected, 25% subsidy left

Region A ended up with 5 notary nodes, and 25% subsidy was left over.

At the end those left over subsidies are combined from all 4 regions, and another notary node is elected - if the total subsidy is enough.


The Guaranteed Subsidy

A 100% subsidy means that with the ICO funds we will guarantee an income of $500/month. However, it is possible that we won't have to pay anything if the mining revenue is more than $500/month.

There will be 1440 new block each day, and each block has a 3 KMD block reward, which means there will be a 4320 KMD income per day.

With 64 notary nodes each would receive 4320/64 = 67.5 KMD/day -> 2025 KMD/month [Note that possibly we won't get 64 notary nodes, which would mean more income per node]

With the current exchange rate of 0.00012909 BTC/KMD the notary node would get 0.26 BTC/month = $190/month.
 -> thus we would pay the node $310 in BTC, so that their total income is $500/month.

When KMD price goes over $0.25 dollars we don't have to pay any subsidy.

Im new in bitcoin and altcoin. but i have little bit bitcoin right now and i dont know why i interest with KMD.  When KMD listed to the exchange? I need learn more about this coin and may be l'll start invest my little bit of BTC for KMD if i think there is good future.

What is it about? Where you can see a KMD exchange?