Title: PIVX Lifeline
Term: 1 Cycle
Cycle Amount: 50 PIV
Total Amount: 50 PIV
Author: PIVX Community
Created: 19th January, 2022
Vote Hash: 9bb2492d259747559de670e79b0d403489e07ab1f7a761b3f26628a23ac7d9a3
PIVX has a real threat of being delisted by major exchanges: Kucoin and Binance. You can see that Binance already delisted PIVX/ETH pair now:
Binance did it without a warning. They just stated that the PIVX/ETH pair will be delisted due to low volume. On the other hand, multiple warnings were received lately from Kucoin, and again the reason for this is that the trading volume is simply very low. That is because no one really knows about PIVX, mostly due to lack of funding for serious Marketing campaign(s).
This proposal asks that MNOs agree to dropping their rewards from 3.0 PIV per block down to maximally 2.3 PIV per block. Final decision for the exact number of MN reward per block will be decided exclusively by Core developers. This is a formal voting for Masternode owners to decide whether they accept that the MN rewards decrease up to 0.7 PIV per block. The difference of 0.7 PIV or less per block will be moved to the Treasury to support the efforts to prevent PIVX from being delisted by major exchanges, strong Marketing activities and promotions, business developments, and more.
Every MNO is invited to vote for or against this proposal, as the voting is possible for each and every MN owner in a decentralized manner, using the best possible option that PIVX’s tech currently allows: through a budget proposal system.
First, we should clarify that the word ‘Marketing’ by itself is already a very broad term. However, the ‘Marketing’ proposals over the last year or more, have also included ‘Business Development’, making it even more broad.
There has NEVER been a proper Marketing budget for PIVX, even since it was launched as DarkNet. It has always had a purely technical focus. There have been times where attempts were made, with limited budgets, but Marketing always means motivating exchanges, influencers, news websites, and advertisers that are OUTSIDE the PIVX space. Given the MANY well funded ICO, meme coin and high inflationary projects out there, as well as the current NFT craze, it is impossible for PIVX to compete. Our Business Development / Marketing Team works for FREE, and ALL funds are spent to motivate the above mentioned influencers. They charge market rates, and they do not ‘bleed purple’ like our Core Developers and other PIVians do.
The fact that PIVX offers Staking Rewards is in some cases a curse. It motivates people to HOLD and not trade. That combined with no one knowing about PIVX has increasingly hurt volume on exchanges. Over time, that forced the Business Development Team to fund ‘Liquidity Programs’ with Binance and Kucoin. The amount spent on that is almost the entire monthly budget for Business Development and Marketing.
In other words, it is fair to say that currently there are ZERO FUNDS for Marketing, since ALL funds are spent on ‘Liquidity Programs’ to prevent being delisted.
The Actual Request
The ideal request would be that the Stakers also agree to drop their rewards. After much discussion, this is the suggestion.
However, it is not possible for MNOs to vote for Stakers. It is hoped that Stakers will agree to a reduction as well, but unless there is overwhelming vocal support in Discord and social channels, that may not happen until BIP8 signaling is available soon after v6.0 is released. As such, this is the request being made to the MNOs with this proposal.
To vote yes:
mnbudgetvote many 9bb2492d259747559de670e79b0d403489e07ab1f7a761b3f26628a23ac7d9a3 yes
To vote no:
mnbudgetvote many 9bb2492d259747559de670e79b0d403489e07ab1f7a761b3f26628a23ac7d9a3 no