Hi,
Why is the supply higher than the 100m the ICO stated? Where do the rest of those coins come from / is there more coins to be created?
Thanks
Why is the supply higher than the 100m the ICO stated? Where do the rest of those coins come from / is there more coins to be created?
Thanks
Great question! The excess coins are all from forging by the Delegate Nodes. Hope this answers your questions!
@Wexfgy12,
To elaborate on RiseGal's accurate response to your question, it's the pre-coded rate of inflation in Rise, the block rewards through 'forging' are the incentive to have multiple delegates securing the network. This has been explained in detail in the RISE White Paper.
Over the next 5 years RISE has the following rate of inflation:
Year 1: 15 RISE per block, 115,768,000 Total coins with 15.77% annual inflation rate
Year 2: 12 RISE per block, 128,382,400 Total coins with 10.90% annual inflation rate
Year 3: 9 RISE per block, 137,843,200 Total coins with 7.37% annual inflation rate
Year 4: 6 RISE per block, 144,150,400 Total coins with 4.58% annual inflation rate
Year 5: 3 RISE per block, 147,304,000 Total coins with 2.19% annual inflation rate
Year 6+: 0 Rise per block and therefore 0% inflation.
At the end of the the fifth year there is 0 block reward and transaction fees alone will sustain the network.
This is really unfair, the devs get all the new forged coins now.
That means they have 15,768,000 coins the first year combined with the "9 million to be withheld by the development team" make a total of:
24,768,000 coins for the developers!!
I calculated the percentages and found out that they then have more then 21% of all the coins!
What happens when you decide to dump a few million coins to raise some cash
Your outrageous developers fund makes this coin even worse then the interest and the bonuses that the banks get!
Hello @jorrr,
We've touched on this question before, but it's good that you bring it up so we can clarify it once again and to get a constructive and fruitful discussion going regarding the matter.
What will happen to the forged RISE tokens
So to rephrase the question: what will actually happen with the tokens that have been and are currently being forged by the Genesis Delegate Nodes until the time when the new Delegate code is ready for release and the community can start taking over by running their own nodes and forging RISE themselves?
Let's start by making clear that these tokens are not disappearing in the Dev team's pocket and they will most certainly not be dumped to raise cash. We'll make a proposition of how they are to be spent and let the community decide if they agree on it or not... It will be comprised of bounties, DAPP developments and other things that will benefit the community and raise the value of the RISE platform.
If you or others reading this have inspiring ideas of how it is to be spent then please voice it by all means. I've opened a new thread on this subject at the RISE forum where you can submit your ideas and discuss the matter further with our team and the community:
--> http://forum.rise.vision/topic/54/what-shall-we-do-with-the-forged-rise-tokens-submit-your-ideas-and-discuss
Hi Alty, McVenture !
I really believe in your project and its successful future
Guys, I actively promote all the time your project
me in all possible ways ...
And I think that I deserve to share the bounties of the fund ??
I will be very grateful
