Poll on Firo Block Reward Division

This is to consolidate the discussions from Tokenomics and Funding: Division of Block Reward Discussion and Community Matching Fund and to gauge community sentiment for a block reward division change.

You can vote up to a maximum of 3 options but can also choose less options. Only vote for options that you approve of! This is also known as Approval Voting.

Approval Voting lets voters indicate all the options they approve of, instead of just one. The winning option is the one with the most approvals. Vote splitting and spoiling problems are eliminated with no additional complexity.

The poll is open to anyone with Trust Level 1 and above to discourage sock puppets though if you’re of a lower trust level but if you’re a recognized member of the community in other mediums and want to vote, please post in this thread with further information to have your trust level upgraded so you can participate in the poll. In the future, we will be upping this Trust Level requirement to 2 and above.

Trust Level 1 is achieved by:

  • Entering (Opening) at least 5 topics
  • Reading at least 30 posts
  • Spend a total of 10 minutes reading posts

The options are presented as follows:

:pick:Miners | :policeman:Masternodes | :family:Community Fund | :technologist:Dev Fund

Pick all options that you approve of! (max of 3)
  • :pick:50% | :policeman:35% | :family:0% | :technologist:15% No change
  • :pick:40% | :policeman:40% | :family:5% | :technologist:15%
  • :pick:40% | :policeman:35% | :family:10% | :technologist:15%
  • :pick:35% | :policeman:50% | :family: 0% | :technologist:15%
  • :pick:35% | :policeman:45% | :family: 5% | :technologist:15%
  • :pick:35% | :policeman:35% | :family:15% | :technologist:15%
  • :pick:30% | :policeman:50% | :family: 5% | :technologist:15%
  • :pick:25% | :policeman:40% | :family:20% | :technologist:15%
  • :pick:15% | :policeman:60% | :family:10% | :technologist:15%
  • :pick:10% | :policeman:60% | :family:10% | :technologist:20%
  • :pick:10% | :policeman:30% | :family:40% | :technologist:15% | :test_tube:5% (research fund)
  • Others, not mentioned here (please specify in comments)

0 voters

Things to consider before voting:

  1. The role of miners in Firo’s ecosystem in enabling decentralized distribution and providing backup security.
  2. Do we want to have a community fund to encourage community contributions to improve decentralization and should we test how a community fund works before increasing its share?
  3. The effect of less liquidity available on exchanges due to lock-up in masternodes.
  4. The effect of halving every 4 years.
11 Likes

Having more % for masternodes gives the incentive to hold and make the overall value bigger on the basis of Supply and demand - more masternodes = mored FIRO coins taken out of Supply.

Its a win win.

8 Likes

Look, that is just rubbish. It was the same argument put forward 5 years ago and has never held true. If that was the case the price would not be at 4.50.

1 Like

Welcome to the forum! If you’re not a new member of the Firo community and have participated in other mediums (Telegram, Discord etc), let me know and we’ll change your Trust Level so you can vote.

7 Likes

Please vote in the poll :slight_smile: You are almost at Trust Level 1 if you spend a little more time reading the other posts.

2 Likes

Other: 30% / 0 % /40% / 20% / 10% - research.
I’m happy to forgo the MN rewards for real development and innovation!

1 Like

Can I vote, I am a discord member

Could you identify your Discord ID please?

1 Like

Masternodes going to 0 will have a bad effect on the security of our chain since it is masternodes that provide Chainlocks and InstantSend.

Without Chainlocks, our chain is just pure PoW and there’s no reason for the existence of masternodes.

11 Likes

voted ! what level is my profile I am curious.

1 Like

You can DM me your Telegram ID or post here.

2 Likes

Hello Reuben,

Thank you for setting up this vote.

I can’t find the suggestion I made:

  • Miners: 20% (+block fees)
  • Masternodes: 60%
  • Community fund: 5% (for a test)
  • Developement fund: 15%

In comment:
I’m a little surprised that the firsts peoples to post are strangers (at least on the forum) and that they are saying extreme things…
This does not reassure me for the outcome of this vote… but wait and see.

3 Likes

Ack I can’t change the poll after the first 5 minutes and apologies, just vote the closest and others as well. If a lot of ppl want it, we can narrow down the options with one more round of voting.

2 Likes

I accept your apologies with pleasure and I will vote as close as possible, but that changes the distribution a lot, for example between 15 and 20% for miners or 5 and 10% for the community fund (it’s double).
Since 8 people have already voted, modifying the poll now would be distorted: the only solution would be to start it again.

2 Likes

As myself a miner who owns many gpus l, by decreasing the miner rewards many of us miners have to move to alternatives and mind better option. I totally understand it is not the best value and performance for Firo right now we all hope and work to make it better.

3 Likes

有点难选择,我认为未来可能会完全转向PoS,抛弃矿工是时间问题

2 Likes

Are you a current Firo miner and what do you do with your rewards ?

1 Like

Hello Reuben
Can you please change my trust level ? My discord account on Firo is : kuehlei#0658

thanks

2 Likes

Wow, 86% want the masternode percent set to 60%. Not often you see such a clear consensus. I’m very happy everyone seem to agree :blush:

5 Likes

Yes I have been mining firo since it was changed to the new algorithm Firopow but I’m not only mining one coin. Im holding my firo the market is not great yet like it used to be to sell or trade. On the other side, firo is one the most profitable coin to mine therefore I’m interested to continue mining for the time been

1 Like