Details on the upcoming fork
Planning for Block 800k, but block number may change
Stake Threshold Changes- Minimum Coin Age Threshold has been increased by a factor of 10
- Formula for the maximum possible block reward remains unchanged
Stake Reward Changes- Variable Stake Rate (1% - 500%), calculated at time of stake and determined by individual input coin age
- Having coin age below the minimum threshold will now reward -0.1% of current block number worth of CUBE
- Blocks that currently reward 1 CUBE will subtract 0.1% of current block number CUBE from your balance post-fork
- These coins will be burned from moneysupply, not paid to any miners or stakers. They will be completely destroyed
- The penalty for staking too few coins, or too low of coin age, will scale long-term and increase as block number increases
- As always, DigiCube will retain the No-Fee model, instead relying on under-minimum coin age blocks to burn coins long-term
TL;DR - Make sure you are above the new staking minimum coin age threshold or else you are going to be really pissed off at the coin
I will leave discussion on this topic open for one week before I start getting new wallets ready. Get your input in soon if you want it heard
I like this concept, it will force small holders to dump their coins into the hands of REAL INVESTORS.
Things would look different if DIGICUBE has a market cap exceeding $1,000,000., so that 1 CUBE = a few pennies/cents. At this price, penalties will appear annoying and frustrating.
Also, at higher market cap, the POS rewards will become more meaningful, even if POS = 1%The goal is to encourage small holders to increase their hand, rather than dump them
Trouble is if the target they have to reach is too far away they loose sight of it, throw everything and go. But that isn't the reason I don't think I like that new fork plan. If I got things and quick calculations right this would mean that the count of rewarded blocks would currently be around 54 at maximum a day and I doubt many people would support the chain with enough extra blocks if they have to pay, currently 785 cubes per block. This doesn't sound like that good an idea to me, but I might've gotten something wrong here.
If not, perhaps do it:
101-500% with coinage > 2*block number
11-50% at (current) coinage > 0.2*block number
1-5% at coinage > 0.02*block number
pay if below
and/or make it a lottery. Like 10% chance of money back (twice the fee back would be possible as well), 1% chance for 10*fee, 0.1% chance for 150*fee and finally 0.01% chance of 4000*fee. These payouts would average to 75% (85% with 2*fee on the lowest level) of the fees collected, the remaining 25% still get burned. That reduction of burnt coins wouldn't be too bad since, again if I got things right, at current block time the fees at full chain speed would burn about twice the maximum amount of coins possible to be staked with reward. So if it encourages people to play staking lottery the amount of coins might still even be reduced each day, although maybe it should be ensured the lottery only applies for blocks that people paid for, especially in combination with the other suggestion above.