As I’ve been reading the topics posted here, I’ve sort of taken to the idea of a separate ‘voting token’.
Here are my thoughts:
Since we already have a reward system that distributes rewards in a fair way, why not piggyback off of this existing system and get the benefits of see-saw?.
Imagine this - every time you get a reward, you get voting tokens equal to your reward, and those tokens expire every 30 days to prevent vote hoarding and manipulation.
If we have decided that we are paying everyone accordingly for their contributions to supporting the network, why don’t they get to vote accordingly?
I have seen the posts about MN should have slightly more voting power, well:
Generally speaking, Masternode owners get more rewards, because their operating costs are higher. But if there are too many Masternodes, their rewards drop making Staking more profitable temporarily.
With this is mind, they would also generally get more voting power, but if they start to become too many - stakers get more voting power temporarily.
If you’re not staking or running a MN - you aren’t helping to support the network. With a system like this, those that support the network get to vote proportional to their contribution, and to a lesser extent proportional to their investment.
Thoughts on this idea?
Here’s another thought - maybe a person could choose to get 100% rewards OR 100% tokens, or a combination of either.
In essence, they are giving up rewards if they decide that votes are more important, or giving up votes if they decide that rewards are more important.
@s3v3nh4cks then it costs to vote, sort of.
Say, I currently get 100 piv in staking rewards per month, but I decide votes are equally important. So I decide to get 50 piv and 50 voting tokens.
Great idea kodaxx. Love it.
I think it will still need to incorporate a minimum staking time for stakers to receive voting tokens. As stakers can begin receiving rewards instantly through the wallet I think having a whale net might prevent malicious voting power from the heavies.
Hope to see this one implemented. Great thinking.
Post reply 2
Agreed. I think a minimum staking time to start receiving the tokens would be important