Reward cap removed plus changes to tokenomics
To make it short, previously published tokenomics were not up to par and would stand in the way of continued ecosystem growth.
In a serious attempt to fix them, after obtaining current independent token holder agreement by a vote, we have implemented the following changes.
- Send / receive cycle award 1 CRKK cap removed. At miner count at the time of the vote, this increased to 5.07 CRKK per send and 5.07 CRKK got distributed among receivers (witnesses). The formula going forward is 8MM total number of tokens available for miners per chain divided by 20 years * 365 days divided by 6 as the number of send / receive cycles per day, divided by 2 (one side for sending, other distributed among witnesses). This formula is applied until we start rewarding data receipts, at which time some of the daily emit will go towards that goal but still to the miners. Similarly, if daily cycles would be reduced from 6 to less, that would not have an impact on daily total tokens awarded to miners.
- To appreciate very early adopters and not take away their first-mover advantage miner balances at the time of the vote got a multiply of 5.07 right before the award increase.
New chain open rules
- A new chain will be opened after 7500 miners on the previously opened chain
- In an attempt to preserve future miner return on investment (ROI), a new chain should be opened if projected ROI exceeds 6 moths. ROI should be calculated based on average miner selling price and average daily earnings, times CRKK market price. A new chain opening should commence at least 60 days after the previous opening.
Tokenomics allocation changes
- 80% goes to miners
- 8% to Crankk team
- 4% to investors
- 4% allocated to marketing
- 4% to enable a possible token sale for liquidity creation purposes