The neoxag had two inflation pools:
50%: Proof of Brain (the forum)
50%: Mining
I am adding a new inflation pool and adjusting the percentages of the current pools.
The new pool is Proof of Stake. Holding Staked Neoxag earns you an interest on that stake.
Here are new stats:
60%: Proof of Brain (the forum)
10%: Proof of Stake: earning from your staked Neoxag
30%: Mining
NOTE: This does not add new inflation. It simply reallocates who gets the existing inflation.
There is not an increase in how much Neoxag gets printed.
Reasoning behind the change
New proof of stake: Since miners are pretty hard to come by, I think it would be good if the common Neoxian city user can mine with their staked Neoxag.
It provides another powerful motivator to Stake your neoxag, which helps bolster the price.
The forum is very important, and I think deserves more than just 50% of the inflation pool, thus the increase to 60%.
Posters will earn more, curators will earn more.
Greater incentive to stake your neoxag
It is my belief that this new setup will reward people for staking their neoxag. Not only will you earn directly from your neoxag stake with the new Proof of Stake, but your 50% curation awards have a larger pool to draw upon as well (60% of inflation, rather then the old 50%).
By providing a more powerful incentive for people to stake their neoxag, this should boost the neoxag price, which helps everyone, including miners...
Why are you nerfing miners?
Before we discuss, lets divide the miners into three groups:
- Fully active miners that stake, post and curate
- Semi active miners that do one or two of the above.
- Lazy miners that just dump on the market.
If you are a fully active miner, then yes, you will earn less neoxag from your miners, but you will earn more neoxag from your curation, and posts, and you will be earning neoxag from your vast hoard of staked neoxag. A fully active miner, will not be hurt by this change at all.
A semi active miner might be slightly hurt by this change..maybe, probably not, it depends on how active they are.
A lazy miner will be hurt by this change..and you know what? I'm totally fine with this. The whole idea is to promote and encourage beneficial activity on the chain, which will improve the Tribe, the forum and the neoxag. If this change improves the price of the neoxag (which I hope it will), then even the lazy miner might at least break even, as they earn less neoxag, but the neoxag they do earn are worth more.
My goal is to defend the value of the Neoxag
Making a change like this, especially after the system has already started is not ideal, but I sincerely believe this proposed change will improve the Tribe, the forum and the neoxag (and the price of the neoxag). Which is why I want to make this change.
I reserve the right to make changes in the system to improve the Neoxag, to defend its value, though I will strive to do so sparingly, and only when very necessary.
Even at 30% of the pool, miners would still have a huge advantage over the non-miners in the Tribe.
Having said that I'm willing to compensate miners:
Since miners have gone from 50% to 30%, then I'd be willing to refund 40% of the purchase price.
- You must have purchased the miner directly from me (either on the market or off). No second/third hand refunds.
- You must have the miner(s) in your possession and staked.
- You will need to provide me with a screenshot and/or a link to the blockchain showing your purchase prices.
- You will have until Oct 10th, 2019, to request a refund.
- Refund would most likely be given in steemp, possibly also steem or both. Other options might be possible.
- For a refund, file a claim to my dicord, which is neoxian#3936
