Is the Emission rate controlled by a smart contract or just manual?
- rewards Peeranha
In the FAQ it says about the emission rate
What is emission rate?
New tokens are created once per week. The maximum starting emission is 100,000 PEER per week (depends on user activity). The emission is reduced by 10% every 52 weeks.
Telos tokens have no emission rates, so how is this being achieved? We would like to use these sorts of systems on other tokens. On TeloSteem Engine they have SCOTBOT and we can tune Scot Bot to work with main net telos, with steem's actual blockchain emission rate as the reference guide, until telos has a main net social media reward pool
Ive begun some proposals for telos PEAK using steempeak and teloscot using steem engine scot bot
Then any telos token can create a social media reward pool (And make room for a proposal pool )
Im interested in understanding any smart contract emission system being used by the pEER token which I am also looking for and cannot find, perhaps it hasnt been issued but, Id like to see it on Telos.bloks.io
60% of PEER tokens will be created by the emission process that is controlled by the smart contract. New tokens are issued during rewards payout for the users.
Initially, the smart contract will reward 10 PEER tokens per reputation point earned by a user. However, total rewards for all of the users in any given week can not exceed the maximum emission rate (100,000 PEER during the first year). For that case, maximum emission is distributed among the users proportionally to number of reputation points that users earned during this week.
The goal is to provide higher rewards for the first users and, at the same time, keep token attractive for the investors.
I tried to upvote your comment and i saw I am being told I need a reputation score of 35, interesting, Im already at 12, so thats a good goldilocks sweet spot your operating in. I actually want to get to level 35 now to get to upvote posts and help my friends get to a higher level lol just kidding, ill vote for quality.
Anyway, so because of the ""reward pool" , we can get UP TO 10 PEER per reputation point earned? with a reward pool of 100,000 per first year yeah?
Lets use scotbot for this, we could make emission rates easier and create telos reward pools.
otherwise ill be using your system for all my telos tokens that are social and need reward pools :)
You impressed me with your answer, i was not expectring you to have the reward Pool and Emission rate mechanics thought out in this detail!
Can you consider adding "curation" rewards for voters so, maybe a percentage of rewards from each post can go back to the users who voted, so we get rewarded for upvoting the best comments? Or Am i thinking too much like a steem app dev? :D