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Update whitepaper to explain total coin distribution trajectory #943
Description
Activity
The 10M cap is the total supply of Property tokens, not DEV; DEV has no software cap and is minted on the basis of conditions dynamically determined by the Policy, which is updated by stakers governance.
Also, there are parts of the whitepaper that do not reflect the newly specification updated by the DIPs, which I will update. We understand the importance of keeping information up to date and this is important to Dev Protocol. The team and I are doing our best to keep it that way.
- ghost changed the title
[-]Update whitepaper to reflect what happens after all 10,000,000 are minted to be able to continue to fund stakers [/-][+]Update whitepaper to explain total coin distribution trajectory[/+]on Sep 6, 2021 The inflation is working to encourage more staking. (https://github.com/dev-protocol/protocol/blob/main/docs/POLICY.md#rewards) And there are Community Funds that have not yet been released, and releasing them will encourage lower inflation.
There is also a tokenomics update planned: MAXIE is a new token with a fixed supply that will complement DEV.
https://community.devprotocol.xyz/t/rfc-wip-maxie-the-instrumentality-tokens-for-dev-maximized-creator-economy-tokens/486MAXIE has a fixed supply but it will implements a dynamically yield rate depends on a redemption rate, which I believe could work for DEV as well. No full proposal yet, but I think it will be discussed.
As a side note, DIP-55(https://github.com/dev-protocol/DIPs/blob/main/DIPS/dip-55.md) functions as a sort of token-vesting for the creators. In results, a maximum annual withdrawal limit for the creators is remained in the neighborhood of 500. However, a new proposal to update this is under discussion.
🤖 Crawly Smart Analysis
Likely Root Cause
The root cause of the issue appears to be a lack of clarity in the whitepaper regarding how the coin will sustain itself financially after all 10,000,000 coins are minted. This lack of information has led to concerns about potential financial instability for the project, which has resulted in bans on both the forum and Telegram for discussing these issues.
Concise Step-by-Step Fix Plan
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Review Existing Documentation: Start by thoroughly reviewing the current whitepaper sections related to Profit, Market Reward, Inflation, Deflation, staker returns, and developer funding.
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Clarify Financial Model: Ensure that the financial model is clearly explained. This should include how fees or other mechanisms will be used to fund stakers and developers after all coins are minted.
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Add Timeline Details: Provide a clear timeline for when the total coin distribution trajectory will occur, including milestones such as the completion of initial token distribution and the transition to self-sufficiency through fees.
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Consult Legal and Financial Advisors: If necessary, consult with legal and financial advisors to ensure that the explanations are accurate and legally sound.
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Update Whitepaper: Make the necessary updates to the whitepaper based on the findings from steps 1-3.
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Review and Test: Have someone review the updated whitepaper for clarity and accuracy. Consider testing it with a small group of stakeholders or community members to gather feedback.
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Publish Changes: Once satisfied, publish the updated whitepaper and notify all relevant parties (forum, Telegram, etc.) about the changes.
Confidence Score
confidence: 0.95
Suggested Target File Path
file_path: /docs/whitepaper.md
Memory key:
dev-protocol/protocol#943:2022-06-26T04:02:29+00:00-
Problem subject
Whitepaper doesn't clarify inflation vs deflation, I got banned on both the forum and the telegram for bringing up the issue which looks bad for the coins validity
Description
I feel that there is no clarity whatsoever about how Dev will be able to fund stakers within its own ecosystem after all 10,000,000 coins are minted. Bitcoin and ETH plan to use fees in order to pay miners/stakers, this plan enables them to eventually be self sufficient. I have been banned on both the forum and the telegram for raising this issue in depth, I do not wish to do ill harm to this project if it is legitimate by discrediting it, it appears to have really have good value if it has a way of funding after all coins are minted, however, theres only explanation of how the ratio of stakers and developers work and very little explanation of how long it should take for all 10,000,000 coins to be minted, and how the stakers and developers will get returns when that happens.
Expected behavior/contents
Whitepaper needs to be clear about these eventualities and I should be able to get unbanned because these are legitamate concerns that need answers.
Actual behavior/contents
Right now there is nothing in the Profit, Market Reward, Inflation, Deflation section that prevents this coin from being a large Ponzi scheme, this is of great concern to anyone investing.
Code of Conduct
By submitting this issue, I confirm I've read and complied with the CoC 🖖