How will you vote - CFX emission voting with CIP94

#1

The upcoming hardfork includes CIP94, enabling the community to vote on CFX emissions for both the PoW base block reward and the PoS base reward interest rates without the need for an additional hardfork!

Would love to hear and discuss with the community how you will vote once CIP94 is implemented and what your thoughts on the options are. The voting options can be found in the original post here:

You can also find the original CIP on Github

Looking forward to a great community discussion with everyone!

  • PoW base block reward - Remain Unchanged
  • PoW base block reward - Increase by 100%
  • PoW base block reward - Decrease by 50%

0 voters

  • PoS base reward interest rate - Remain Unchanged
  • PoS base reward interest rate - Increase by 100%
  • PoS base reward interest rate - Decrease by 50%

0 voters

3 Likes
#2

I would vote for a small pow increase

1 Like
#3

Yes, that is something you will be able to vote on :smiley:

3 Likes
#4

100% increase is small during a bear market :slight_smile:

3 Likes
#5

In the abstract it says:

“…The vote starts periodically (every 2 months), and only a fixed number of options (to increase the parameter, decrease the parameter, or keep it unchanged) are available…”

If the consensus is consecutively on increase for 6 month (3 votes), the increase will be significant tbh.

2 Likes
#6

Could there be smaller changes for PoW or PoS reward than 2x or 0.5x, maybe smaller changes might be enough there?
Boosting the PoS rewards from 16% to 32% is a lot. Like +25% or +50% options might be enough too.

2 Likes
#7

For price development, I believe halving the rewards might do the trick too.

I believe that the more mining revenue miners get -> price would go even lower because miners might sell more because they get more tokens

When again;
Less mining revenue -> less sales pressure from mining -> would create pressure for the token price to rise so that the miners would get better revenue from mining

This is proven for.ex. with Bitcoin and it’s halving and the related price developments.

2 Likes
#8

32% is a lot? have you seen swappidex rewards on cfx pair? :>

2 Likes
#9

Yeah, and have you seen the price development of PPI because of the high emissions ? :slight_smile:

2 Likes
#10

The PoW one is more straightforward, as you said. RN, the CFX emission per block is 2CFX/block. But for PoS, an 100% increase does not necessarily increase the APR from in a PoS pool 16% to 32% because this reward depends on the base staking rate and its relation to the CFEX locked and circulating supply ratio.

48%402x
CleanShot 2022-10-11 at [email protected]776×796 108 KB

The above picture is from confluxscan.io. We’re only voting on the base staking rate of 4%. The higher the amount of CFX staked to the amount of CFX circulation, the lower the final APR. In the most extreme case, where all circulating CFX are staked, then the APR will be 4%.

1 Like
#11

The testnet with 93M hash rate runs quite well for over 2 years, should Conflux really need to pay 10,000,000 CFX per month for PoW to maintain the network?

Think about BTC and ETH miner, PoW Miner need valuable coin, they dont need more coin.

BTC annualized inflation rate 1.8%
ETH annualized inflation rate ~1%
CFX annualized inflation rate ~8%

1 Like
#12

I would have to agree.

1 Like
#13

my opinion is to have:
0% pow increase & 100% pos increase

the reason for 0% pow increase are we shouldnt hurt them by propose decrease on their revenue. i believe miner dominate conflux’s user (most ambassador are miner) and conflux relatively popular within mining community. of course we shouldnt propose for increase because it will hurt price

and why 100% increase in pos staker, from 4% to 8%? because conflux pos staker have these two characteristic

  1. pos staker enforced to lock and unlock for minimum 14 days. pos staker cant participate in short term or immediate sell/dump. more people to stake, the price will increase because reduced circulating supply
  2. whale/private investor/exchange/miner that not stake will be punished, because their coin diluted by 8% annualy. those 8% will be given to loyal user/miner that stake in compensation to not dump for at least 14 days or more
2 Likes
#14

It seems to me that the discussion is misfocused, because we do not have to increase the supply of CFX, on the contrary, see how to reduce it, in economics it would be like applying contractual policies to be able to reduce the circulating supply of tokens and be able to stabilize the price, making the CFX token appreciates, now it is not only that but also to attract qualified professionals, to observe in detail the projects to which support is provided.
We can see great examples like bnb with the repurchases and burns of their token periodically.
After solving that inflationary problem that they propose, it would be necessary to advance with the utility for the cfx token, for example, the votes would have to be for the people who have the cfx token and the voting power according to the amount of cfx they have in their wallet… we have another great example pancaswap and its token cake which splits it into 3 (icake, vcake and bcake).
Finally, I don’t know if they already have a financial advisor and economist, but it is extremely important to have this type of professionals within this technology, in order to create economic systems within the blockchain.

3 Likes
#15

Totally agree, it’s relatively insignificant during this market…

1 Like
#16

I would definitely vote for a smaller proportion increase for PoW block reward. 100% increase is too much.

#17

CFX tokeninin değer kazanmasını sağlayarak fiyatı stabilize edebilmek, artık sadece bu değil aynı zamanda kalifiye profesyonelleri çekmek, destek verilen projeleri detaylı olarak gözlemlemek