Topic: FLY COIN ANN.Swapping to "Las Vegas"coin,+Masternodes,Darksend,Stealth, instantX - page 73. (Read 186205 times)

So the reason Im posting this is because I would like some feedback. If we added HODL "locking" technology to fly, the interest rates would be MUCH less than what HODL pays, because inflation is the #1 killer of all coins. So I would say 100-150% is the max per year. Im thinking to add an option for 1-12 months. Its important to understand that once YOU lock your funds away, they are locked for that term. You CANNOT access them until it matures. So as you can see, I really need feedback on this. If this is something you guys would want , then we have to come up with a table of interest rates. I Also feel there should be a minimum amount of fly needed for the different lengths of term. 12 months requiring the highest minimum to get in. This would encourage buying to meet that minimum. So this is kind of the direction Im heading. If implemented, YOU would CHOOSE to lock different amounts away for different lengths of time, or you would leave your fly wallet open and participate in POSP.
So lets discuss this and share ideas.

Vegas

POSP for mine. Keep it simple, secure the network. Lets not fall back into the trap of making things too complicated with the wallet

So now everything is settling down, we want to add features to the fly wallet that will give you all kinds of choices and options. The main driving point behind fly is going to be its crypto services such as wallet compiling, custom graphics for wallet or OP, and block explorers and seed nodes. When people want these services, we will only accept fly as payment. Now, we have looked at the popular coins and and what makes them popular. One example is POSP created by cryptobullion coin in which you MUST have your wallet online and unlocked for staking to get rewards. This encourages users to have their wallets minting and thus securing the network. Those who do will get the stakes, those that dont participate will lose the reward. The other technology that I am strongly considering is created by HODL coin. HODL coin offers a higher percentage annual rate to those that choose to "lock" funds away for the length of time they choose. The longer the term, the higher the percent. There are advantages and disadvantages to this technology. The advantage is users can earn MUCH higher percent per year by locking their funds away. Fly is already extremely rare with just over 200,000 coins and 1/2 of it is owned by the top 3 users and we dont sell. So with users locking away their funds for different lengths of time, this means less on the exchange and higher prices. The disadvantage is network security is normally much less. This is why Im proposing to add POSP for those that do NOT want to lock their funds, they dont have to. They will participate in securing the network with POSP and get regular stake rewards.

So the reason Im posting this is because I would like some feedback. If we added HODL "locking" technology to fly, the interest rates would be MUCH less than what HODL pays, because inflation is the #1 killer of all coins. So I would say 100-150% is the max per year. Im thinking to add an option for 1-12 months. Its important to understand that once YOU lock your funds away, they are locked for that term. You CANNOT access them until it matures. So as you can see, I really need feedback on this. If this is something you guys would want , then we have to come up with a table of interest rates. I Also feel there should be a minimum amount of fly needed for the different lengths of term. 12 months requiring the highest minimum to get in. This would encourage buying to meet that minimum. So this is kind of the direction Im heading. If implemented, YOU would CHOOSE to lock different amounts away for different lengths of time, or you would leave your fly wallet open and participate in POSP.
So lets discuss this and share ideas.

Vegas