Please find the latest Tokenology update here:
We are excited to announce the launch of our new Qredo Tokenology paper!
This new tokenology enhances QRDO’s utility across staking, network usage, governance, payments and rewards – capturing value created by the Qredo ecosystem.
We encourage you to share your thoughts on the Tokenology paper in this discussion. Our aim is to gather community feedback and draft and submit the first QPIP (Qredo Protocol Improvement Proposal) on QRDO Tokenology in the governance forum for an up-or-down community vote in Snapshot.
We’re taking a monumental step forward in optimizing the functionality and growth potential of the Qredo Network, with QRDO at the heart of it all.
Here’s what’s new:
- Implementing a new staking model that requires users to lock their tokens to receive rewards.
- Creating an Ecosystem Fund that will serve as a primary repository for service fees tipped and will have a market-driven reward release function.
- Creating a Staking Support Fund with an exponential decay vesting to support the early adopters of the new FPoS consensus.
- Introducing Protocol Fees, making QRDO an essential element for operating and using the protocol.
- Introducing Service Fee tip deposited in the Ecosystem Fund to support the network security.
- Introducing Protocol Fee burn function - all protocol fees will be burned.
- Allocating the remaining tokens from the outstanding token supply, with 160 million tokens burned.
- Accelerating vesting to decrease uncertainty in the market and reduce the total circulating supply to total supply gap. Total circulating supply will increase to 639 million QRDO, but staking, locking, and burning will decrease inflation compared to the current model.
- Turning the roadmap over to our community with a discussion on Qredo Community Governance Forum and QRDO-enabled voting.
Thank you for sharing your thoughts earlier on the QRDO Tokenology Framework!
As the Qredo Protocol becomes further decentralized and community-driven, we look forward to putting decision-making power about the protocol’s future directly in our community’s hands.