Hi thanks for weighing in though this is pretty late and the proposal was passed and implemented. It’s not a centrally made decision as we had several rounds of discussions and even gave people opportunity to introduce other options (as long as other people wanted it too and not just a singular person). You can take a look at the entire discussions in the Poll section for this.
I think just looking at absolute values don’t tell the whole story. Monero’s emission had an initial emission of 18.4 million which in 8 years was already totally emitted (with arguably a higher rate of inflation than Firo). Firo is still 4 years away from total emission of initial bootstrap supply of 21.4 million at the new revised model. You cannot compare Monero and Firo directly without accounting for the initial bootstrap supply or else it’s like comparing Doge with Bitcoin.
If we view Monero’s model as a ‘successful one’, the tail emission as a percentage of the total bootstrap supply is very similar.
Monero tail emission a year: 157,680 out of 18.4 million = 0.858% inflation/year
Firo tail emission a year: 210,240 out of 21.4 million = 0.982% inflation/year
This is pretty much on par and over time will even out and actually drop.
I also think we have given several rounds of discussion over the years on tail emission and just for this year’s discussion is summarized here: Firo Finalized Tokenomics Results | Firo - Privacy-preserving cryptocurrency
- April 2024: Initial discussion about tokenomics. blog forum
- June-July 2024: Polls were held regarding tail emission, the development and community fund, and the rate of emission
- July 2024: A thread was opened to ensure that the final poll’s voting options would cover all options that the community cared about.
- August 2024: Final polls to vote on the proposed changes.
So I agree that discussions should be had and there shouldn’t be overly centralized planning. I think we did the best we could given the circumstances and reminded people to weigh in and posted numerous videos explaining the pros and cons of each. I think the only major kickback we had are from miners understandably so but they were noticeably absent during all our discussions (including the previous slash of miner rewards), so I think it’s hard if they don’t show up to vote.
Given that the change is already in place with overall support from the community and ecosystem, I don’t think we should be meddling with tokenomics any further. The main concern now is the sustainability of the current consensus model when tail emission hits and we have to discuss seriously what that looks like given the sharp drop in emissions when tail emission hits.