Very interesting stuff. I hadn’t looked at the sell wall in that way. Here’s my (selfish) question to you — if you were to launch palnet over again (assuming you had full control over the launch parameters) what would you do differently about releasing those 12.6M?
Would you do it through higher inflation at the start? High mining inflation specifically? More airdrops - but spread them out? Programmatic selling (can we please call this the Steemit, Inc plan!?)?
Curious to know what you’d do if it were under your control ;)
I think they did a really good job with the airdrop.
Top notch.
Wouldn't change a thing.
I think 12.6 million coins is a bit ridiculous.
You can't expect to suck up 4% of Steem's market cap in a reasonable amount of time.
I would have done 1 or 2 million and made it so those coins didn't generate inflation.
"Mining" is interesting. You can't really call it mining because it doesn't mine anything or validate the network, but then again maybe you can... virtual mining...
PAL mining is just another form of staking; a version of staking where the users are expected to only be worried about ROI instead of being active in the community. It's a very good thing to have because there is plenty of demand for it.
The one thing that really bothers me about it is that PALM doesn't have a cap. The Mega-Miners do have a cap which means they can be worth more than the 100 Steem peg once they are all bought out. However, the Miners not being capped puts another soft-cap on the Mega-Miners which I think is annoying. This puts a 132 (33*4) Steem cap on Mega-Miners because miners cost 33 and MM cost 100 but MM generate 4 times more PAL.
If it were up to me I would put a cap on PALM and PALMM. Once they were all bought out I would liquidate all PALMM and the owners would receive 4 PALM for each PALMM that got burned. That way you don't needlessly have 2 assets that do the same thing but you can still give the bulk-buy deal in the beginning.
For the most part I have no complaints.
All the problems with PALNet are totally fixable at this point.
Yeah I agree. I ask because I’m launching my own tribe/token and am currently working on the parameters for the launch. It’s hard to figure out exactly how to distribute millions of tokens in a fair way.
I like the idea of selling 1-2 million tokens at the sell wall and not having inflation for them. It may be a little tough to set that up as the inflation rate is based on the total and not “per token”.. I.e. you set the inflation to be X number of tokens per Y number of blocks.
The other option is to start with a really high inflation rate and let the early adopters earn tokens for using the platform — like Steem did. The problem is that you may end up with an unfair distribution kind of like Steem.
I love those ideas on mining. I see a lot of potential there to do some interesting implementations.
Palnet did a great job. The sell wall is pretty daunting, but I’m having trouble finding a fair alternative to it while still being able to distribute millions of tokens. Thanks for your input! Let me know if you come up with any other great ideas that I could possibly steal from ya! 😉
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