Hello everyone, we have a lot of announcements to make today ! It is a difficult period for the altcoin market, that is why we took a lot of decisions and we hope you will like our choices. Do not hesitate to give your feedback on slack, we will be happy to discuss it with you.
1) Increase of masternodes rewards from 2 to 5 XMCC:
In 2 Months, we will increase the masternodes rewards from 2 to 5, and decrease the miner rewards from 8 to 5. Why did we make this choice ? We saw that our active community and our most active members were masternodes owners. Moreover, we saw that the biggest mining power was mining XMCC because it was profitable and was automatically selling it mostly on NovaExchange, without thinking about the project and the market. We want to favorize the ones who believe in us. It was already written in the code and should have begun on block 131 400, we are just speeding up the process.
2) 60% of the XMCC owned by the team will be burned:
Like you know, we own around 7 million coins (out of the 50 million max total). We understand that it is hard to have full trust in us while we own so many coins. That is why we decided to burn 60% of the coins we own. We should be able to pay for marketing and development with the other 40%. Moreover, with the governance object, we will have a new way to be remunerated if the community agrees to it (Creation of a salary for the team via a project, if the majority of masternodes owners agree to it, we will be paid in XMCC).
3) Changes of XMCC minted per block:
The division should have been like this :
Block 7200 to 270000 -> 10 XMCC per block (about 12 months)
Block 270001 to 532800 -> 5 XMCC per block (about 12 months)
Block 532801 to 1058400 -> 3 XMCC per block (about 24 months)
Block 1058401 to 1584000 -> 2 XMCC per block (about 24 months)
After block 1584001 -> 1 XMCC per block or 525600 MCC per years
We decided to change it to reduce the impact of the drop in rewards for both masternodes owners and miners every year, the changes will be implemented in 2 months :
Block 7 200 to 270 000 -> 10 XMCC per block (about 12 months)
Block 270 001 to 532 800 -> 8 XMCC per block (about 12 months)
Block 532 801 to 785 600 -> 6 XMCC per block (about 12 months)
Block 785601 to 1 038 400 -> 4 XMCC per block (about 12 months)
Block 1 038 401 to 1 291 200 -> 2 XMCC per block (about 12 months)
Block 1 291 201 to 1 544 001 - > 1 XMCC per block
4) New members in the core team:
We will have new members in the core team, one will be a business advisor and the other will be our legal adviser. You will have more details about them in the near future.
5) Publication of our Whitepaper:
We will publish our Whitepaper in two weeks approximately. The big exchanges asked us to provide a Whitepaper for them to be able to list XMCC on their platform.
6) Bounty campaign:
We did not make any ICO and not too much communication. A bounty campaign is a good way to increase the number of users while promoting effectively our project. The details have not been decided. We would be happy to discuss them directly with the community on Slack on #bounty .
7) Improvement of our website design:
We decided to make a new design for our website. Something made by a professional. We are aware that the website is the showcase of our project, and we believe we can do much better.
8 ) Creation of a fortnightly Newsletter
In order to keep you informed of our progress, we will create a fortnightly newsletter that will begin on Monday 6th November.
