With Infinite Max Supply, 5% Dev Fee, there is no need to say that there are zero premined coins or that the currency will eventually be decentralized or have an increasing value, as the more successful the currency becomes, the richer the developers become, while there is no mention of how to mine, and with blocks produced every 5 seconds, cheap fees, the currency will most likely be centralized or the number of people interested in mining will be less. I was optimistic because the number of Proof of Work projects is less, but after 5% Dev Fee, I do not think it will be a good project.
While I understand the concerns around a 5% developer fee and potential centralization, I think it's important to look at the broader picture. Running and developing a successful cryptocurrency project requires continuous effort and resources. Development, marketing, listing on exchanges, and infrastructure maintenance all cost money. Without sustainable funding, many projects fail simply because they lack the resources to grow or even maintain basic operations.
A 5% dev fee, while it may seem significant to some, is actually relatively modest when compared to other projects that allocate 10%, 20%, or more for development purposes. For example, high-profile projects often allocate even larger percentages for development, marketing, and ecosystem growth. This fee ensures that developers are incentivized and that the project can keep improving over time. After all, no one works for free, and in the competitive crypto space, ensuring that the team has resources to stay innovative is crucial for the project's survival.
The argument that this fee could lead to centralization or discourage miners may be valid to some extent, but it’s also worth noting that miners are still rewarded for their efforts. Block rewards and transaction fees still create incentives for miners to continue participating. As for centralization concerns, a successful, decentralized project often grows over time as more users and miners join the network, provided the development is well-funded and the project achieves adoption.
When it comes to listing on Tier 1 and Tier 2 exchanges, significant funding is required, and a dev fee is a realistic way to achieve this. Exchange listings are a key part of building credibility and accessibility for any cryptocurrency, and they require substantial investments. No one is going to donate large sums of money to cover these expenses if they have no stake in the project’s long-term success.
In conclusion, a 5% developer fee is a reasonable trade-off for ensuring the long-term sustainability and growth of the project. It provides necessary funding for ongoing development, marketing, exchange listings, and other essential tasks. Without this, the coin might suffer from a lack of resources and eventually fail due to an inability to keep up with competition.
