SPORTS Governance Proposal: SPORTS Distribution Changes
account = "sports-gov" nodelist = NodeList() nodelist.update_nodes() nodes = nodelist.get_nodes(hive=True) hive = Hive(node=nodes) def transfer_token(to, amount, symbol, memo, account): he_wallet = Wallet(account, blockchain_instance=hive) transfer_tx = he_wallet.transfer(to, amount, symbol, memo) time.sleep(1) c = Comment(loaded_post, steem_instance=hive) c.reply(str(transfer_tx), "stake_tx", account) transfer_token("sportsrewards", 1, "SPORTS", "Update distribution to reflect latest proposal approved by sports-gov", account)
The SPORTS Token Fund needs additional funding to provide for the needs of the #sportstalk tribe. I wrote about the issues I ran into when upgrading our token a bit ago. Since that post, I proposed the concept of updating our token distribution to align our tribe to be more like Hive but that proposal didn't receive the necessary votes needed to pass quorum.
I'm not sure why the last proposal failed to gather votes. I have to assume that some users were away from the tribe at the time and didn't get to vote. For that reason I'm going to propose the changes again while tagging the top 100 stakeholders in the initial post in hopes that we get the necessary votes to pass. If for some reason you are opposed to these changes please let me know in the comments so I can attempt to arrange alternative proposals that could still add funding to the token fund system.
I would like to change our yearly inflation distribution in a way that would add up to 970,338,265 SPORTS to our supply each year. Those would be distributed as:
- Content - 65% - 630,720,000/year
- Token Fund - 35% - 339,618,265/year
That would allow us to still distribute 315,360,000 rewards/year to authors and another 315,360,000 of rewards/year to curators for providing the content that drives the ecosystem. The 35% allocated for the token fund would mean that we'd have enough to continue funding the 102.2M SPORTS to LP rewards for SWAP.HIVE while also leaving more available for allocating to other projects.
Since the change proposal I've also learned that it is impossible to fund our token contract with SPORTS from @sportsprojects. For this reason I realize that account is no longer needed. It would be made redundant by the portion of inflation being dedicated for their defined purpose. For that reason @sportsprojects will continue powering down and then send the rest of the SPORTS held to @null.
Update SMT Contract
The only change that will be made is to lower the reward per interval setting from 80 to 60. This will equate to 630,720,000 SPORTS a year that will be made available to content rewards. Those will be split 50/50 between author and curators.
Proposed Token Settings
The SMT reward pool will be updated as follows:
Post Reward Curve: Power (r^a) Post Reward Curve Parameter: 1 For 'power' curve, this is the exponent - 'a' of r^a. Use 1 for linear. Maximum 2 decimal precision. Curation Reward Curve: Power (r^a) Curation Reward Curve Parameter: 1 For 'power' curve, this is the exponent - 'a' of r^a. Use 1 for linear. Maximum 2 decimal precision. Curation Reward Percentage: 50 What percentage of post reward should be allocated to curators. Cashout Window Days: 7 How long, in days, until a post is scheduled to pay out. Must be between 1 and 30. Staked Reward Percentage: 50 What percentage of rewards should be given as staked. Should be between 0 and 100. Reward Interval Seconds: 3 How often to add tokens to the reward pool. Reward Per Interval: 60 How much to add to the reward pool every reward interval. Vote Regeneration Days: 5 How long it takes to fully regenerate voting power from 0 to 100%. Vote Power Consumption: 200 How much vote power is consumed at full voting power for a 100% vote. Downvote Power Regeneration Days: 5 How long it takes to fully regenerate downvoting power from 0 to 100%. Downvote Power Consumption: 1000 How much downvote power is consumed at full voting power for a 100% downvote. Tags: #sports, #sportstalk, #hive-101690
Update Token Fund Contract on Hive Engine
The only change that will be made is to update the maximum amount per day that is allocated to the token fund. This will move the maximum amount per day up to 930,461 and will equate to 339,618,265 SPORTS a year that will be available to SPORTS projects such as Diesel Pool rewards.
Once approved and updated a SPORTS Token Fund proposal will be made that offers to burn any unused distribution each day by sending them to @null. That means that some of these 930,461 may never make it into circulation. It will be up to stakeholders to vote proposals higher than that burn proposal for them to be funded.
Proposed Token Settings
The token fund contract will be updated as follows:
Payment Token: SPORTS Token to be paid out to the ranked proposals. You have to be the issuer of the token. Vote Token: SPORTS Token to be used for determining stake-weighted rank. Selected token must have staking enabled. Vote Threshold: 20 Minimum amount of stake required for proposal consideration. Maximum Duration: 730 Maximum duration of any proposal. Must be between 1 and 730 days. Maximum Amount Per Day: 930,461 Maximum amount of payment tokens a proposal can request Do you want to require fee to create proposals?: Yes Payment Method: Burn Fee can be burned or sent to the fee payment token's issuer. Fee Payment Token: SPORTS Token to be used for paying creation fee. Amount: 2500 SPORTS
I am not requesting any funds for these changes and will cover the costs myself.
How to Vote
@sports-gov will reply to this post with two comments. If you'd like to see this proposal pass then upvote the YES comment with any % upvote.
If you would not like to see that these changes implemented then please upvote the NO comment with any % upvote.
Top 100 Stakeholders
I've tagged the top 100 SPORTS stakeholders to this initial proposal as notification of the new proposal. If you would like to not be included in future proposal tags please don't hesitate to let me know and I'll be sure you're removed from my list.