- Staking Support Fund: from 150m to 100m → 50m burn
- Ecosystem Fund: from 435m to 340m → 95m burn (390m tokens allocated from the 2nd billion and ~45mil vested from the 1st billion tokens)
- Public Goods Fund: from 50m to 25m → 25m burn
Total: 170 million tokens to be burned
Proposed release changes:
- Increase staking rewards from 30% to 40% from the total reward pool
- Reduce validator rewards from 70% to 20% until the release of the new Qredo chain
- Burn remaining 40% of weekly reward pool until the release of the new Qredo chain
- Introduce 2.5-year half-life instead of 2-year half-life for the Staking Support Fund
QPIP-4 addresses the need for adjustments to the allocation of funds within the Qredo Network to maintain a sustainable model and responsive to evolving market conditions. The proposal includes modifications to the Staking Support Fund, Ecosystem Fund, Treasury Fund, and Public Goods Fund. Specifically:
- It proposes a reduction in the Staking Support Fund from 150 million QRDO to 100 million QRDO, resulting in a burn of 50 million QRDO.
- The Ecosystem Fund is reduced from 435 million QRDO to 340 million QRDO, with 90 million QRDO being burned
- The Public Goods Fund is decreased from 50 million QRDO to 25 million QRDO, with a burn of 25 million QRDO.
- The total burn resulting from these changes is 170 million QRDO.
- Increase staking rewards from 30% to 40% to reward the early supporters of the Qredo Network.
- Reduce validator rewards from 70% to 20% until the release of the new Qredo chain to decrease inflation.
- Burn remaining 40% of weekly released rewards, until the release of the new Qredo chain to reduce the TS of QRDO.
- Introduce 2.5-year half-life instead of 2-year half-life for the Staking Support Fund to create a more sustainable distribution.
The motivation behind QPIP-4 is to ensure that the fund allocations within the Qredo Network remain aligned with market dynamics and that the TS of tokens are aligned with the speed of development of the network. These adjustments aim to strike a balance between maintaining sustainability and providing appropriate incentives while continuing to adhere to the principles of decentralization and sound money. This is also based on the community feedback and sentiment regarding the different funds set up for the sustainability of the Qredo ecosystem and QRDO Economics.
DETAILS OF THE DRAFT PROPOSAL
The key elements of the QPIP-4 proposal are as follows:
- Staking Support Fund: Reduce the Staking Support Fund from 150 million QRDO to 100 million QRDO, resulting in a burn of 50 million QRDO. This adjustment ensures ongoing support for the early supporters of the Qredo network, while reducing inflation.
- Ecosystem Fund: Reduce the Ecosystem Fund from 435 million QRDO (Comprising 390 million tokens from the second allocation and 45 million tokens vested from the first allocation) to 340 million QRDO, with 95 million QRDO being burned. This change ensures that the ecosystem remains well-funded while reducing the TS.
- Public Goods Fund: Reduce the Public Goods Fund from 50 million to 25 million QRDO, with a burn of 25 million QRDO.
- Total Burn: The proposed changes result in a total burn of 170 million QRDO tokens.
- Increase staking rewards from 30% to 40% from the total reward pool.
- Reduce validator rewards from 70% to 20% until the release of the new Qredo chain.
- Burn remaining 40% of weekly released rewards until the release of the new Qredo chain.
- Introduce 2.5-year half-life instead of 2-year half-life for the Staking Support Fund.
- Community Feedback: Encourage the Qredo community to provide feedback and insights on this proposal during the discussion period. Your input is vital in ensuring the sustainability and adaptability of the network.
QPIP-4 is a proactive measure aimed at preserving the economic sustainability and responsiveness of the Qredo Network. By adjusting fund allocations and reducing TS, the network can continue to provide support for its decentralization efforts, maintain a vibrant ecosystem, and reduce inflation.
We invite all community members to actively participate in the discussion and voting on QPIP-4. Your support and feedback are essential in ensuring the continued success of the Qredo ecosystem and its commitment to responsiveness, sustainability, and decentralization. Together, we can secure the future of the Qredo Network in a changing and dynamic landscape.
The path to deflation is now…I like this proposal team…it also rewards the faithful who have been staking for ever
I’d love to see a snapshot for the longest hodlers and an airdrop for the community too please
We have no intention to sell any time soon so this is not Ponzinomics IMO
But either way…great qpip 4
A well balanced proposal respecting the need for funds in the future, making qrdo more valuable and the needs of the network.
Great to see some actions !
Why do you think this burning and or decreasing the amounts of tokens is essential? I thought the large amount of tokens was for long term neeeds to be met.
Instead of burning could the token you are intending to burn be locked for 5 years and then released automaticaly with a cap like adding 10% liquidity per year and never more?
This will ensure there will be coins forever. But they will not generate inflation.
Other point :
Redefining the Utilities of the Qredo token :
_ Validator nodes purchase ;
_ Fees (can it be peged to Stable like USDT and so the Qredo amounts change depending on the USDT/Qredo valuation ?)
_ Governance ;
Suggestions : Add utilities like
_ Special access to investments opportunities or pools or funds, NFT sales, depending on the amount of token staked long term. (with various tiers)
_ Special Discounts when transacting with some Qredo partners (sui, Celestia…) ;
_ and other incentives for people to participate in the ecosystem, holding and staking…
There are so many ways to do so.
Hope to see a bright future for Qredo thanks to quality work, good managment of resources, creativity and innovation.
1/.4bn max supply is still too way too many tokens. I’ve been saying all along the target needs to be 600-700mn. This can be viewed as a yet another delayed step in the right direction though with deflation as a future / but this is just Inorganic disinflation and highlights just how the team messed up the tokenomics again, because every burn like this is now becoming a necessity. Should have pulled the bandaid off with the whole 500m burn IMO. Let’s see if in a few months we ditch the remaining 330m - where we will settle at 1 bn and change. Then organise deflation via protocol fee burns and enforcing fees on clients utilising the network can have an effect where we see an eventual target of 600-700mn reached. Within 3 years ideally. We shouldn’t be reactive and we should get ahead of the curve and stop being the too little too late team - just like the FED.
The offers look good but more is needed. Because if it is a community-oriented project, it should listen to the community and create the value that the community wants. The community supports you and expects answers to your questions. Fire should not be the only topic being studied. The power of social media should be used in the field of PR and the project should be supported with new investors and partnerships.
As a long term value investor having some millions of Qrdo tocken, I like the new changes as more commitment into right direction. However, I still see it lacking more serious actions. I mean the burn here is good but the quantity is not affecting the supply much nor getting community’s satisfaction.
I URGE team to increase the burn from ecosystem fund from 435m to 235m by burning 200m tockens not 95m tockens. as this is largest fund and looks controversial where we invite people in social media to join qredo community but confronting many doubts from traders due to this size of fund.
I hope we see serious actions once voting in action to make it 210m tockens into burning as:
Staking Support Fund: from 150m to 100m → 50m burn
Ecosystem Fund: from 435m to 235m → 200m burn
Public Goods Fund: from 50m to 25m → 25m burn
total burn 275m tockens
We are reviewing all comments and participations. The original proposal already included a lot of what is possible for now, but we continue to see what we can improve.
While conversations continue and we see what else can be improved in this proposal, here are the proposed dated for the vote:
- Proposed start: Friday, November 24
- Proposed end: Monday, November 27
Eco system fund is need for fusion chain for grants and development
You need to spend money to make money
If you don’t investor in fusion chain then no Devs will come, no apps will be built and it would be a waste.
The more apps the more qrdo is needed, the more transactions the more qrdo is burnt.
This is a good proposal. I think there is no need for me to add or remove. I totally agree with this.
QPIP-4 vote is over! QPIP-4 is approved!
Thrilled to announce the approval of QPIP-4 proposal! at 99.92%.
The results: Snapshot