Final Poll on Firo Block Reward Division

Welcome to the final poll on the block reward division of Firo.

The original poll had a wide variety of options and while we allowed preference voting for voters to express multiple options, the votes between the top two options are neck and neck.

There’s also been many who do not want to drag on the poll process and have another run-off poll. As we’re already 8 days from the other poll ending, I have decided to run a refined poll with a shorter duration of 2 weeks beginning immediately. The original poll will remain open for the remainder of the time and if there’s for some reason a sudden shift, we will redo this poll but I don’t foresee it changing.

This will be a final poll with the top 2 options represented and another 2 intermediate ones that community expressed interest in but were not represented in the original poll. I have kept it round numbers or else it’ll be really ugly with the block rewards.

This poll will be open for 2 weeks.

How should Firo’s block reward be divided?
  • :pick:30% | :policeman:50% | :family: 5% | :technologist:15%
  • :pick:25% | :policeman:50% | :family:10% | :technologist:15%
  • :pick:20% | :policeman:60% | :family:5% | :technologist:15%
  • :pick:15% | :policeman:60% | :family:10% | :technologist:15%

0 voters

After the poll, we will start implementing the changes as soon as we can together with a drop in block time.

In a period of 6 months, we will revisit how the tokenomics change has affected the project and have another poll to decide whether to change or stick to it.

10 Likes

While I would have preferred a larger proportion of the block reward to go to miners, I am the most excited about the community fund and would rather the block reward go towards empowering the community to build things for Firo and be paid for it. This is why I have personally voted for a larger community fund.

Let’s agree that in 6 months time, we will evaluate these changes to see if it has worked and we should be open to honestly assess the impact of the outcome of this poll and be open to readjusting.

I personally don’t think rewarding masternodes overly is the way to go and would have preferred something like

:pick:35% | :policeman:40% | :family: 10% | :technologist:15%

but as it wasn’t a popular choice, I have not placed it as an option.

Note that with these changes, if there’s no price rise, it is likely to see even more centralization of mining hash power into the remaining pools that choose to continue to operate.

With masternodes given more of the block reward (which are existing holders) it is up to you guys to protect Firo and hodl or do something with it. You guys said that you’re the most loyal members of Firo, now is the time to show it! A big thanks to those who donated to the Donation Drive! Why Bitcoin and Ethereum worked with PoW is that in the earlier years, it was the mining pools that were funding development and giving back to the projects they support. Arguably Mintpond has been the only pool to really do that while we acknowledge the small donations from 2miners.

Some miners ask, why should they support a project that doesn’t support miners? Well, Firo has been committed to defending GPU mining for 5 years+ now and one of the very few projects to do so, so the question should be, why aren’t miners supporting the project back? Why then are GPU miners supporting overwhelmingly Ethereum which have abandoned miners?

The core team hasn’t been asking a lot. The very first step is to decentralize your hash-rate which costs nothing. Maybe it’s because miners have not been following the project updates which is why this switch is a good last chance since it would involve a hard fork and is mandatory and you can read the notes of what happened.

If after the hard fork, the current status quo stays the same and hashrate remains concentrated, regardless of the values that PoW represents, it would be a clear sign that they were no longer the supportive community they used to be and we probably should be thinking about appealing to other forms of PoW (ASIC or CPU?) or just change consensus completely.

10 Likes

I’m voting 25%|50%|10%|15% - this seems like the right balance to me in value.

I feel strongly that POW mining and the mining community at large is too important to bring rewards down any less. Additionally, the larger the community fund, the more Firo will be able to do to get on it’s feet - such as provide liquidity on FiroDEX, take on opportunities to make Firo great, and get the word out about this amazing project. I like 10% for the fund.

The development team needs to remain funded and I’m committed to help by donating monthly, like a Patreon for my favorite project. My hope is once we’re at Lelantus Spark this project will be in it’s polish and mature phase in terms of it’s value proposition to the crypto space. I’m still 100% confident it’s a winner and we’re just waiting for the right environment for folks to realize that Privacy in crypto is as required as HTTPS is for websites, or VPN for your IP.

Thanks to the team for the incredible work they’ve done so far, and Reuben for your ethical and fair leadership through some challenging times.

-K

6 Likes

Dont forget guys miner are CENTRALIZING FIRO, big pools will one day complay with regulations, we need strong masternode network when that happens

2 Likes

Masternodes are also centralizing on Allnodes. Don’t forget that too :slight_smile:

3 Likes

You have written this several times: what are your data?

My data are,

  • as you wrote yourself: 2 miners concentrate more than 80% of the mining (community pool + solo pool),
  • I don’t have direct numbers from allnodes, but their servers are in Germany (they had some in Finland, but they migrate them to Germany). The masternode total number in Germany is 1,566 (source, “masternodes map” tab). In comparison, a neighboring country, France, has 359. Assuming that there would be as many “non-allnodes” masternodes in France as in Germany (but Germany has a larger population than France), that would make 1,200 masternodes at allnodes. Compared to the 4,151 masternodes currently online, this would be “only” 28%.

If you have other numbers, please share them.

1 Like

I’ve spoken to Sephiroth before (founder of Allnodes). He was kind enough to let me know rough figures. He does a great service and is an important part of ecosystem and he really does provide nice tooling for managing the nodes so I would be an ass if I blamed it on Allnodes. They do try to spread out datacenter locations but they mainly use DigitalOcean.

1 Like

I don’t encourage dropping block time. Although It seems that master nodes will get more rewards with this change, the change is unstable. As your comment in previous topics, the current state of the system can’t rely on trx fee and we are not sure there will be strong adaptability in the near future. What is the point of increasing emission rate?

1 Like

The drop in block time will be accompanied with a halving of rewards meaning there’s no acceleration of emission. Sorry if that wasn’t clear. This was a casual suggestion in the other thread but is not part of this vote/poll.

The drop in block time is just to get faster confirmations especially since FiroPoW blocks are pretty damn small.

2 Likes

Also welcome to the community!!! Always happy to see new faces.

1 Like

Could you please make another post, poll, announcement about this with more details ? I get the main points, but some new comers may be not.

You mean this one? Poll on Firo Block Reward Division This what I linked in the OP.

I mean the blocktime halving.

Ah sure, will do that. It’s an interesting proposal but don’t know if it’s the right time to do it. I’ll open it up for discussion.

First project of the community fund should be to fix the edit button lol.
I think merge mining with Monero maybe an idea if miners don’t diversify. I was against it when it was first proposed. I thought Firo should be independent and I assumed the mining community were supportive of Firo as a project. Experiencing the 51% changed my mind on this somewhat, with a few notable exceptions though.

I think this topic being re-evaluated in 6 months is also a good idea.

We need to see how Monero miners view Firo as well though or else shifting one problem to the other though it’s an interesting idea but it’s rather strange to align ourselves with a competitor. I would be more minded to explore integration into another ecosystem.

Look, 33% of all Firo enabled masternodes are located in ONE data center, so we need to work on nice masternode location distribution too.

3 Likes

On 30th of April I made analysis of all enabled masternodes and it seems that in 10 most used datacenters are hosted 79.5% of masternodes. And most used datacenter in Germany (from Hetzner) hosts 33.6% of enabled masternodes (huge part of that is most likely from Allnodes).

3 Likes