Should we have a cooldown period to unlock masternode collateral?

I think we have other more important things to do, the masternode is not urgent.

Noted, unless there’s a strong wave of community support for this from other community members, I’m putting this idea on the back burner and have told Peter to stop working on it for the moment. Do hope that everyone who weighed in here can weigh in on the Firo Tokenomics Discussion with upcoming Halving thread!

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Absolutely few days of locking is needed.
I would also apply few days of masternode rewards lock as those are the main reason firo is hugely underperforiming price wise. Exchanges have tons of firo locked in masternodes and they just keep selling the rewards every week. Binance has the habit of suddenly going on an algo buying spree to provide liquidity then they dump their masternode rewards making those strange and ugly wicks on the graph making the coin look like a pump and dump scheme and keeping investors away.

Hey @reuben appreciate the welcome, happy to be here. Big fan of the project. I have a lot of optimism about the future of FIRO.

Helpful info regarding process of changing providers. Thanks!

My opinion about the cooldown ./ locking stays the same however. Maybe I just really like the idea of being able to access my coinc immediately. For me that means I am willing to put all my coins into masternodes, using a provider that charges on a short term basis and be comfortable that if I have some emergency or unexpected bill I can access the funds right away.

I thought that the cooling period would be carried out from the creation of the master node, but if the freezing time begins after requesting the return of the currencies in guarantee, then I support the freezing for a few days, if this contributes from a way that the team can react to any attack.

I dont want to be a sitting duck waiting for my coins to be released, even if its just 24 hours (unless it would be for a high securiry risk at that specific moment)… I dont consider the rewards after the halving high enough to take that risk.

But yeah, the rewards will probably balance out as the number of MNs will likely drop … but they would have to drop to levels that may cause security issues.

Maybe a queue-system that goes into effect once the number of MN is so low it may cause a security issue.

@reuben

I thought this was an interesting concept.
Perhaps another idea is, we pay all Masternodes something like 25% less.
Then when X number of quorums/blocks are confirmed, say 6 months worth. The remaining 25% is paid to the MN if it’s still online.
If it’s not online, maybe the 25% could be sent to a burn address. This could also help with reducing supply if we have a tail emission.

The freezing of collateral is contrary to the original intention of privacy, can the team freeze the node rewards for 7 days or 1 month, at the end of the freezing period send 75% of the original rewards to the MN owner (if the node is canceled during this period, the remaining 25% will be sent to the public node rewards account), if the MN is running for 3 months or 6 months then the full amount of the rewards will be sent, and if it is running for more than 1 year, then 10% will be sent from the node rewards account as a reward

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While everything is possible, it also has to be weighed with the ease of implementation unless the community really wants it. Remember whatever logic we implement also needs to be checked by every node.

I think unless the community expresses more support for this idea, we’ll put this on the back burner as otherwise it’ll be introducing additional development time and complexity for a feature that people are divided about.

I do however really like the feedback given here!

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Makes logical sense. :+1:

After seeing everything i have no problem of implementation of lock for a few days

All of this is understandable, regardless of my opinion on it, but the main question I didn’t get an answer to from what is written is: And what will the Firo team/community do if a masternode whale deregisters a ton at once? Who/what is watching it? If there is no automated method of action to trigger an alert or protect the chain, it’s all just a disincentive for people to host masternodes.

It’s also really disrupting for me when I need to move nodes/collateral between wallets for some reason.

I would say that this 10% drop you saw was mostly due to centralization of masternodes with certain providers.

I really like the idea of bonuses for uptime/duration. This is WAY better proposal than a cooldown period.