Neoxag monetary change.steemCreated with Sketch.

in neoxag •  13 days ago  (edited)

The neoxag had two inflation pools:
50%: Proof of Brain (the forum)
50%: Mining

I am adding a new inflation pool and adjusting the percentages of the current pools.

The new pool is Proof of Stake. Holding Staked Neoxag earns you an interest on that stake.

Here are new stats:

60%: Proof of Brain (the forum)
10%: Proof of Stake: earning from your staked Neoxag
30%: Mining

NOTE: This does not add new inflation. It simply reallocates who gets the existing inflation.

There is not an increase in how much Neoxag gets printed.

Reasoning behind the change

New proof of stake: Since miners are pretty hard to come by, I think it would be good if the common Neoxian city user can mine with their staked Neoxag.

It provides another powerful motivator to Stake your neoxag, which helps bolster the price.

The forum is very important, and I think deserves more than just 50% of the inflation pool, thus the increase to 60%.

Posters will earn more, curators will earn more.

Greater incentive to stake your neoxag

It is my belief that this new setup will reward people for staking their neoxag. Not only will you earn directly from your neoxag stake with the new Proof of Stake, but your 50% curation awards have a larger pool to draw upon as well (60% of inflation, rather then the old 50%).

By providing a more powerful incentive for people to stake their neoxag, this should boost the neoxag price, which helps everyone, including miners...

Why are you nerfing miners?

Before we discuss, lets divide the miners into three groups:

  • Fully active miners that stake, post and curate
  • Semi active miners that do one or two of the above.
  • Lazy miners that just dump on the market.

If you are a fully active miner, then yes, you will earn less neoxag from your miners, but you will earn more neoxag from your curation, and posts, and you will be earning neoxag from your vast hoard of staked neoxag. A fully active miner, will not be hurt by this change at all.

A semi active miner might be slightly hurt by this change..maybe, probably not, it depends on how active they are.

A lazy miner will be hurt by this change..and you know what? I'm totally fine with this. The whole idea is to promote and encourage beneficial activity on the chain, which will improve the Tribe, the forum and the neoxag. If this change improves the price of the neoxag (which I hope it will), then even the lazy miner might at least break even, as they earn less neoxag, but the neoxag they do earn are worth more.

My goal is to defend the value of the Neoxag

Making a change like this, especially after the system has already started is not ideal, but I sincerely believe this proposed change will improve the Tribe, the forum and the neoxag (and the price of the neoxag). Which is why I want to make this change.

I reserve the right to make changes in the system to improve the Neoxag, to defend its value, though I will strive to do so sparingly, and only when very necessary.

Even at 30% of the pool, miners would still have a huge advantage over the non-miners in the Tribe.

Having said that I'm willing to compensate miners:

Since miners have gone from 50% to 30%, then I'd be willing to refund 40% of the purchase price.

  • You must have purchased the miner directly from me (either on the market or off). No second/third hand refunds.
  • You must have the miner(s) in your possession and staked.
  • You will need to provide me with a screenshot and/or a link to the blockchain showing your purchase prices.
  • You will have until Oct 10th, 2019, to request a refund.
  • Refund would most likely be given in steemp, possibly also steem or both. Other options might be possible.
  • For a refund, file a claim to my dicord, which is neoxian#3936

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We meant to say thanks for supporting our first proposal. The next steempeak proposal is specifically to help TRIBES like the Neoxag tribe. We made a list of 27 things we think would help steem users with these tribes.

Can staking coins also make us eligible for rewards rather than having to use the tag each time?

You can earn neoxag from your staked coins. So yes.

If you don't use neoxian.city front-end (which posts with the tag automatically) then you may really like to try SteemPeak and set up post templates.. for example I have a template for my 'everyday' type posts where I have all the all-purpose tribe tags filled in already, #neoxian, #palnet, #marlians etc. .. So then I just go to my templates, find the 'everyday' template and hit 'Create Post' paste my draft inside - change or add to the already filled tags if I see fit.. but I don't have to worry about remembering the important tags again xD

The great thing about SteemPeak too is it shows you your rewards for all the tribes/tags you've used on the post xD

Well thank you, I hadn't thought to check steempeak's templates.
I've never tried them.
If they save hashtags that will help alot.

  ·  12 days ago (edited)

This post has been included in the latest edition of The Steem News - a compilation of the key news stories on the Steem blockchain.

As an fully active miner I think this is great! To earn on our staked NEOXAG sounds like a great incentive for even the small user to earn extra, and strengthen the longer term viability of NEOXAG.

Refund on my miners? ;o) I do not think so!

  ·  13 days ago (edited)

this is having a positive impact in market too so this changes are great for long term !

@neoxian,
PoS added, yeah we also added that with our token too!
$trdo

Cheers~

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@neoxian, Good change team and hope that it is effective step and will be beneficial for the Stake Holders.

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This is a very good change, as a fully active miner I'm really happy with this. Posting good content is the best way to ensure more Neoxag to stake it and grow in the tribe.

PD: I don't have any idea of how to find the purchase price of my miners.

Posted using Partiko Android

As someone who feels the FOMO for not getting a miner when I first seen them release (in my defence, I was not a Discord citizen yet!) I am loving this change since I don't have a miner and probs never will have the funds to get one.

I'm active in the forum though and have been using the Neoxian tag since I started posting actively on STEEM again a few months ago, and this was before I joined the Discord, I was like a secret underground supporter for awhile.. so, this is great that not only is there more rewards for me to gain from using and curating the tag, but now I can grow my Neoxian stake faster from staking and hopefully catch-up to a decent enough level - I feel ashamed of it currently especially being a citizen :o

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This is fantastic news @neoxian ! Im so glad that I have always 100% Staked ALL NEOXAG I have recieved in my Steem-Engine wallet, I now have 1085.42 NEOXAG STAKED, WOOT! Keep up the great work! 🎲🎲🎲👍❤
upped 💯 and resteemed

  ·  13 days ago (edited)

Now, that's what I call awesome.. So my staked tokens will earn me more tokens...not bad!! 😊

Posted using Partiko Android

Nice work Neoxian, 50% to miners is unsustainable and is the leading cause of brain-drain!

  ·  13 days ago (edited)

I personally feel that a tribe a good tribe if it also seriously makes policy to stabilize the price or spur demand on the token. I think NEOAG will definitely benefit from this policy change. Nonetheless, people will now love to stake curate which is the main objective.

  ·  13 days ago (edited)

Nice addition to the token, I am going to stake the rest of my NEOXAGs now!

  ·  13 days ago (edited)

$trendotoken

Congratulations @goldcoin, you are successfuly trended the post that shared by @neoxian!
@neoxian got 6 TRDO & @goldcoin got 4 TRDO!

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I love neoxian. thanks for sharing your post.
Upvote and resteemit done sir,