Firo Tokenomics Discussion with upcoming Halving

Community Feedback
82

I would like to address the proposed increase in the collateral for Masternodes. I understand the clarity of the issue, but I believe that if the price jumps above $3, we will lose smaller investors. I think Firo could appeal to a diverse range of people. Sometimes even a larger investor prefers to first set up one Masternode and only after a while, when they gain more confidence in our Blockchain, set up more.

83

As mentioned, there could be both conventional masternodes (1000 FIRO) AND new masternones with a higher collateral (2000-5000 FIRO). Should the price rise, smaller investors will be able to set up a conventional masternode as it is the case now. Hiking the collateral would allow to address the VPS hosting fee issue which becomes painful after the halving.

84

There needs to be a clear function for the new masternodes rather than just an excuse to have a ā€˜superā€™ masternode.

While Iā€™m not opposed to the idea, it needs to perform a clear function.

2 Likes
85

45% Masternodes
30% Miners
20% Dev reward
5% Community Fund

Having more miners involved is a good thing, even if its just miners mining and selling like what ETH had going on. Its extra security and advertising to people who would not even know about FIRO otherwise.

1 Like
86

even better

45% master-node
35% miner
20% community fund
0% dev reward so no security risk

1 Like
87

Who should have decision on how the community fund is used?

2 Likes
88

We are not proceeding with the tokenomics audit due to two factors, one being HashCloak is no longer during economics audit and we also had some concerns as to whether time series analysis would be actually yield useful information.

We think that the funds in MaGIC are better utilized to do Curve Tree (FCMP) support for Spark so that we can get global anon sets.

6 Likes
90

Interesting thread and some great ideas posted.

Hereā€™s some of my thoughts on it:

  • Focus should be on retaining the dev team talent and ensuring security of the network.

  • As long as price remains low (say <$3) we should divert more to the dev reward if needed and less to community fund. If price can get above and hold above, say, $3 then funds can start to be diverted to community fund again. I donā€™t think this necessarily needs to be written into the code.

  • I would say the current allocation should be continuted after the coming halving (whilst taking into account the need if required to divert more to dev rewards as per previous bullet point)

  • It would be good to look at switching to tail emissions (or a more gradual decrease in emissions rather than 4 year halvenings)

1 Like
91

now thatā€™s a good question either current model of community fund may work or master-node can help here or spark holders votes or miner votes or a combination of them can help

92

now spark used for anon voting on-chain and can be used as a on-chain use of firo security budget 21.4 mill cap supply thatā€™s need on-chain fees (which can be mitigated if firo get small tail emissions like monero but smaller)

93

your tail emissions point makes sense but we can also have decentralized community fund and show market dev fund gone so no central point of attack and firo does not come under as security token

94

Will be starting a series of polls to narrow down the final decision as the laving is rapidly approaching and planning needs to be made.

This will be done through two rounds of polls.

The first poll would be open to all Level 1 trust level and above on Discourse and this would be more general questions for e.g., ā€œShould we have a tail emission?ā€ without specific percentage divisions. While optional, we highly recommend people stating the reasons they are voting a certain way in the poll thread.

As the second poll would be the final poll with full percentage decisions, the poll would be open to Level 2 trust level and above. If you are an active member of the community but just not active on Discourse, let an admin know with your username and the platform where you are in and we will upgrade you manually.

All polls will be made in the Polls category for easy reference.

1 Like
95

There are now three polls up for everyoneā€™s voting.

To encourage more structured feedback for each topic, this thread will be closed (but still open for viewing) and be redirected into the three polls:

[Poll] Should Firo have a tail emission?
[Poll] Should Firo continue its Development Fund and Community Fund?
[Poll] Should Firo keep its halving schedule or should we revisit our emission curve?

1 Like