Tagged With "Electorate"

Topic

New Electorate Rewards Pool

Ted ·
Check out the big news about the change to the Network Rewards system that incentivizes voting in a big way: https://blog.narrative.network/announcing-narratives-electorate-6d6c1579f1c2
Suggestion

Mandatory Staking for Tribunal Elections

Garden Gnome Publications ·
In my Community Advisory Group report, I communicated the need for staking. I believe it's the surest way to stabilize the NRVE economy. Staking can be required for a number of things, and should. I had initially conflated staking for Tribunal elections with staking for The Electorate, which is in the spec. I think there should be required staking for Tribunal members. It's a small measure, but anyone who wants to be on the Tribunal should show their commitment to the NRVE economy by proving...
Reply

Re: New Electorate Rewards Pool

Emily Barnett ·
this is great news @Ted I think this will work towards two foreseeable issues....keeping Narrative liquid (at least until until advertisers are in the mix) and of course voter apathy. Thanks for implementing this. One question, where do the funds come from (which slice of the pie chart) to cover the new layer of rewards?
Reply

Re: New Electorate Rewards Pool

Banter ·
Hey @Emily Barnett ! According to the blog post it is coming out of: A new Electorate pool will be added to Network Rewards, with an allocation of 4% of total rewards. To support this, the current “ Activity Rewards ” pool will be reduced to 4%.
Reply

Re: New Electorate Rewards Pool

Emily Barnett ·
Thanks @Banter ! I must have skimmed past that.
Reply

Re: Mandatory Staking for Tribunal Elections

Malkazoid ·
Every little bit counts @Garden Gnome Publications . We won't solve the economy's problems with one big measure: it will take many smaller ones. I think this one is a worthy arrow in our quiver. To sequester 500,000 NRVE via this measure, each of the 15 Tribunal members would have to have 33,000 NRVE on their accounts. That's the equivalent of two good months of earning. Perhaps that sets the bar too high, but then again, do we want Tribunal members who have not been putting several months...
Reply

Re: Mandatory Staking for Tribunal Elections

Serroc ·
YES! I was going to add the Moderators in the staking equation, but @Malkazoid got there ahead of me.
Reply

Re: Mandatory Staking for Tribunal Elections

Colleen Ryer ·
Requiring staking is good, just that seems to me 25000 is the max in the current staking plan. Is it a good idea to ask potential tribunal members to put up the max, or more?
Reply

Re: Mandatory Staking for Tribunal Elections

Garden Gnome Publications ·
@Colleen Ryer , that 25,000 is a multiplier for rewards and has nothing to do with requirements for leadership in the community governance sector. No one is required to stake at all, currently. They're simply rewarded when they do, and that hasn't been implemented yet. It's also available to all members, if I remember correctly. I think it's a good idea to expect Tribunal members to show their faith and commitment to the community by requiring them to stake as a qualification for nomination.
Reply

Re: Mandatory Staking for Tribunal Elections

Colleen Ryer ·
Yes, I understand the the planned staking, not implemented yet, isn't mandatory and isn't related to governance, You're suggesting a separate staking scheme just for potential tribunal members, and maybe moderators, then? 10 terms is the limit for serving on the Tribunal - I suppose that's a long way to be thinking ahead on cash outs for anyone no longer interested in serving ...
Reply

Re: Mandatory Staking for Tribunal Elections

Garden Gnome Publications ·
@Colleen Ryer , the limit is 10 terms. Each term is one year. So, if Narrative survives that long, a Tribunal member could be there for an entire decade. I think we should expect more of a 9-year Tribunal member than one serving in their first year.
Reply

Re: Mandatory Staking for Tribunal Elections

Vico Biscotti ·
Agree on staking for Tribunal candidates, with a progressive threshold. Actually, I remember that something was already there, but I don't see it in the specs, so it seems that I'm wrong. My only observation is that if such a requirement has to be there, it should be declared well in advance. Even if I kept all of my NRVE, part of them are now in my wallet, and I guess they can't find their way back to Narrative...
Reply

Re: Mandatory Staking for Tribunal Elections

Malkazoid ·
I agree @Vico Biscotti - with the elections in about 5 months, it would be best to announce this sort of measure sometime between now and the end of the year so people can build up their balances if they need to.
Reply

Re: Mandatory Staking for Tribunal Elections

Garden Gnome Publications ·
@Vico Biscotti , I thought it was in the spec too. Unfortunately, it isn't. What is, and what I think got confused about, is staking for The Electorate. It's a rewards point magnification designed to encourage staking, but it's only up to 25,000 NRVE. Not a requirement.
Reply

Re: Mandatory Staking for Tribunal Elections

New Social Media ·
I think this idea is very important. But Narrative can easily create an individual deposit address for each member where one can send the required amount of NRVE to fulfill the staking criteria. This should be no problem at all.
Reply

Re: Mandatory Staking for Tribunal Elections

Garden Gnome Publications ·
That's a great idea @New Social Media , an individual staking address. Interesting idea.
×
×
×
×