【Announcement】Round 1 On-chain DAO voting results will be activated soon, PoW basic reward will be adjusted from 2 CFX to 1 CFX

According to the results of Round 1 On-chain DAO voting: PoW basic reward for one block will be adjusted from 2 CFX to 1 CFX; the PoS basic inflation rate will be adjusted from 4% to 4.08%.

According to CIP-94 (On-chain DAO Vote for Chain Parameters ), it will be activated on Block Number 154536000 (expected at 20:00 (GMT+8) on 22 February 2023, see the specific time:
https://confluxscan.io/block-countdown/154536000 ).


For round 2

Vote to increase mining rewards. If we want to be a top class blockchain, we can’t be spending only ~$19 Million for securing the network a year. At 1 block reward, and 0.5 second block time, that is (24 hours * 60 minutes * 60 seconds / 0.5) = 172,800 blocks a day which is ~$52K a day (@$0.3) or ~$19.0 M in revenue globally, which is not much compared to our market cap at 0.30.

Never mind costs of mining, revenue yield as percent of market cap makes it very difficult to support conflux as proof of work system. Spending capital to recieve mining rewards (assume conflux issuing equity ownership) doesn’t seem to make economic sense at current mining reward levels.

Never mind the dilution from staking rewards.