*************************** SUGGESTIONS SUMMARY ***************************
************ FX foundation $FX delegations towards public validators ************
- Increase delegations towards public validators based on public validator seniority
- Decrease delegations towards public validators based on decentralization ($FX owned by users detaining less than 1% of total circulating $FX)
- Increase delegations towards public validators based on participation in $FX ecosystem development (community sharing and help, tools, blockchain dev, tools dev, etc.)
- Update FX foundation delegations every month or 2 months
- Increase/decrease delegations based on participation of public validators to governance
- Reserve 35% of total bonded $FX to delegate to public validators (if possible)
- Allow one or more foundation validators to vote (up to 15% bonded $FX) based upon a restricted-committee council composed of public and foundation validators representatives with a veto right for foundation
- Decrease temporarily (1st time) or definitely (2 or more times) a public validator base on downtime and even more in case of jail
- Ban a public validator in case of tombstone (actually, it’s even mandatory here)
- Incentivize public validators with bonus delegations in case of active governance involvement
************************ FX foundation validators ************************
- Always keep 2 slots opened for public validators to join in (thru a reallocation among FX foundation validators and decrease of last foundation validators’ delegations)
- Always keep at least 10 FX foundation validators active with a maximum of 65% of FX foundation delegations.
- Airdrop FX foundation’s validators commission towards public validators
- Fund FX foundation’s validators operation thru EGF/community-pool annually.
************************ What else ? ************************
- FX foundation should be able to collect their own staking rewards (to compensate for the inflation of the $FX token)
- FX foundation should be able to be transparent about the use of the genesis funds (EGF, product & marketing, engineering, etc.) - we still didn’t have any update on that matter since my previous posts of April 2022 (HERE)
- The EGF as it is used right now (community-spend pool, which is an accepted tax over all $FX block rewards) SHOULD NOT be confused with the genesis EGF fund (endowed with 75.7M $FX) : needs to be fully understood…
— RESERVED FOR FUTURE SUGGESTIONS SUMMARY —
Please consider this as a draft, opened to any suggestions that I’ll update directly in this post.
Then I suggest we discuss with the foundation (@zaccheah , @DavidK ) and the staff.
Please also note that I’m eager to propose a transparent audit of the genesis funds, annually shared with the community. And that point seems paramount to me for $FX value to really take off one day.
Edit 11/AUG/2023 1642GMT : added @Aghanims comments.