[Community Poll] Continue The Grant of Foundation Bonus from 2020/04 To 2021/04 - Proposal #4

Core-dev proposes to continue the grant of foundation bonus (to delegates and voters) for one more year, i.e., from 2020/04 to 2021/04, while keeping the total amount of the foundation bonus the same. This proposal benefits stakeholders of the protocol and will help to make the current IoTeX network reliable while encouraging new delegates to join to make the network robust.

Answer 1: Yes

Answer 2: No

Start: 2020/04/06 5PM PDT

End: 2020/04/13 5PM PDT


my answer 1 yes I believe that it is necessary to extend it of course

It is on the polling portal - https://member.iotex.io/polls/io10jckjex6ms3lvdc34xqn5udjmqvt87upvvcsg7

and will start tomorrow.

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When the network was launched the price of IOTX was approximately $0.008 USD, it is now $0.002 USD.

Assuming a Delegate retains the Foundation bonus of 1920 per day for 30 days to cover costs
1920 x 0.002 x 30 = $115.2

At mainnet launch
1920 x 0.008 x 30 = $460.8

Variable inflation rate managed by Delegate vote would be another option to make the platform more sustainable and would decentralize the process to delegates and their voters. Delegates would than also need to be aware of the fact that rewards pool has a finite amount unless more transactions occur on the network to top this rewards pool up from transaction fees.

Both are valid points, independent could be connected.

While tuning staking bonuses dynamically based on the fiat price of IOTX is not entirely sensible, the “variable inflation rate” is an interesting direction that we have several discussions already. With a reasonable design, the latter helps with the former. We should spend more time on this.

Good suggestion – do you have any good references to variable inflation rate that you can post here for the community?

Check out ICON I_REP where P-Reps(Delegates) are able to adjust the inflation by governance variables. If FIAT pairing goes up or sell pressure is higher one would hope responsible delegates would adjust variables accordingly.

Unfortunately most voters however follow highest ROI so there is risk that delegates who are elected would tune variables for benefit of return over sustainability, however other delegates could offset by increasing/decreasing.