[POLL] Improve Powerup Mechanism (PLEASE VOTE)
Fact is: we have to do something. The current powerup mechanism is outdated (as explained here and here
The main argument AGAINST any change in that regards, is: security.
Security for individual wallets AND security for the governance model.
However, we already have a protection mechanism in place:
Hive must be staked for 30 days before it counts towards witness and proposal voting tallies.
So the argument is mainly for individual stakeholders. Now, I can't make the decision for anyone, hence why I'd like to ask everyone to vote on this poll.
There are many changes we could implement to make it far more lucrative & interesting for people to stake their HIVE (increase APY over time, etc.). But let's start small.
1.) Reduce to 4 weeks
We're currently at 13 weeks powerdown. That means, for 13 weeks, you get 7.6% of your HIVEPOWER as HIVE every week.
The change would result in it taking 4 weeks and you getting 25% of your HIVEPOWER as HIVE every week.
2.) 10% Burn Mechanism
Quote @theycallmedan (https://peakd.com/@theycallmedan/qspq4x)
Would you sacrifice 10% of your stack when Hive was trading at 10k sats to power down instantly?
Reward long-term holders and punish short-term speculators. Instead of burning the 10%, what if that 10% went back to HP holders? So when Hive pumps, lots of people sacrifice 10% to cash out. The ones that stayed should be rewarded greater by the system. We don't need extra inflation for rewards, a simple exit tax.
The tax can be opt-in or opt-out. Users who want to sacrifice some security for more freedom can do so under the system.
Similar to the mechanism coins like SAFEMOON use to distribute funds back to holders, with the difference that it's optional and only put on powerdown - trading, transfering, etc. is all still free.
You can vote for nearly any combination of these options within the poll.
If this poll reaches consensus, I kindly ask the Hive core-devs to accept the wish of the people and include the change within HF25. We don't have another 6 months to waste.
- Reduce to 4 weeks
- Reduce to 4 weeks AND 10% burn mechanism
- Keep 13 weeks AND 10% burn mechanism
- Keep 13 weeks - NO CHANGES
Answer the question at dpoll.xyz.
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4 week and burn :) will vote when Im on my main computer
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Burn Mechanism should be adopted. I can't Comment on 13 weeks kr 4 weeks, but we do need to consider that HIVE has a lot of use cases and most of us ignore governance and other things.
If we can adopt such mechanism that hive in liquid form doesn't participate in governance etc but is used for voting etc.
On other hand powered hive would be given a lot better APR and more usecase so we can benefit both long-term and short-term holders.
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Keep 13 weeks AND 10% burn mechanism
Although I'd most likely go 4 weeks and 10% I feel like that's too much at once and instead a small change of the 10% punishment to instant withdraw. The 13 weeks now makes that 10% more valuable in my opinion. We can see how that goes for 6 months and then based on results try 10% plus 4 weeks and judge results again. Incremental steps.
Reduce to 4weeks and 10% burn mechanism
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Vote for reducing 4 weeks and 10% burn mechanism.
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Yep that would be great 👍
• Reduce to 4 weeks AND 10% burn mechanism
Namaste 🙏
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can you explain to me why burn?
Why a holder should buy it and burn 10%? makes no sense. It's again something weird.
Makes keys useless and is the opposite to be free to move funds.
Let's say you want to get your HIVEPOWER liquid instantly (there could be a discussion whether there should be a 3-day delay for security reasons), but in any case, you'd forfeit 10% of your HIVE to skip X weeks (could be 4, 13, depending how long it is).
And instead of burning, it's distributed among other HIVEPOWER holders.
It's actually also similar to: https://neverlose.money/about
in my opinion, things should be simple and not so complex.
Burn is also not the sexiest way to market. Because people buy the stake, power it up, and want at some point some funds.
There could be told, with this we prevent funds get dumped, but would it be worse? This kind of burns and power-up regulations prevent larger stakeholders from power-up. I think many would hold it forever like some whales on other chains, but they know, they can sell any time. Without a huge fee.
If funds are more liquid, there becomes an alternative to other tokens to hold. Special with HBD converting.
more liquid and easy-to-move funds always beat long-term lockups.
Sidenote: IMO short-term Investors should be converted to long-term holders. That would be able with lower power down times and no fee.
Because holding liquid hive compare to hive power should Hive power win.
with 1 week for example there would be close to no reason to hold it liquid.
Should end up in a decrease of liquid hive available.
I put up a proposal for 1 week. Lets see what happens :)
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I vote for
• Reduce to 4 weeks AND 10% burn mechanism.
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Why not spread the 10% tax on power downs equally to HP holders instead of burning?
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Prefer the burn mechanism.
But, highly doubt we would get it. At best, we get 4 weeks.
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10% is not enough for powering down instantly all the HP.
If the account is compromised, all the HP will be stolen instantly for only 10%.
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Also, just found you and read some about, and vote for witnesses. Deal with you
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