Strengthening The Tokenomics For Our ALIVE Token - Rewards Pool Decreasing By 5% Per Year

in We Are Alive Tribe8 months ago (edited)

In this post I share how we are strengthening the tokenomics of our ALIVE token by changing the decreasing of the Rewards Pool from 1% per year to 5% per year, plus we have also updated the tags in Scotbot, enjoy!


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Made in Desygner, photo by Erik Gustafsson

Hi there and welcome to my blog, my name is Erik Gustafsson and I go by the handle @flaxz.

Strengthening The Tokenomics For Our ALIVE Token - Rewards Pool Decreasing By 5% Per Year

Update April 17, 2022: Scotbot has now automatically reduced the rewards pool for posts and comments with 5%, and we have manually reduced the rewards pool for the miners with 5%, this years yearly reduction has now been fully implemented and it's in sync.

When we launched our ALIVE token on April 16, 2021, we also set a decrease of the Rewards Pool to 1% per year from the previous year, and it can be seen in our White Paper here, White Paper 2.0 ALIVE And ALIVEM.

We did not really make any substantial research into what this should be, but we wanted to have a decrease over time, and now a year later we have a lot more info on how this really works in practice, and why a higher decrease would be a lot better for our ALIVE token over time.

This does not mean to go overboard and have some crazy 30% decrease per year or something, but a 5% decrease will be something that works very well over time, and is illustrated in the chart below, we currently issue 1998.720 ALIVE tokens per day.

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Screenshot from Google Drive

As you can see by the comparison, the 1% decrease per year does not make enough of a substantial decrease of daily issued tokens to make a good impact on our tokenomics over time.

The 5% chart on the other hand shows a both substantial decrease over time, while not going out of hand by decreasing too much, nor too fast.

The setting for this decrease is in Scotbot for Posting Rewards, and it has now been updated for a 5% decrease per year, some speed was needed as well since it will switch automatically when we pass 1 year since it started.

For the miners, ALIVEM, we are using a smart contract, and that does not have any automatic decrease, so it will be switched manually just after the automatic switch in Scotbot has taken place, to keep the full Rewards Pool in sync.

Updated Tags

When we made this change in Scotbot we also switched out the now old #LukeIsAlive tag for the #LarryIsAlive tag, plus we added the #WeAreAlive tag as well, we have some plans for it further ahead, and it's the name of the tribe so it makes sense to add it.

What's Next?

After the switch has been made for the full Rewards Pool, we would also like to add ways to encourage token burning, not on the supply side but on the demand side, and some ideas for this is in the works and will be added soon (incentivising post promotion in our tribe interface), but other ideas can take longer to implement.

The more tokens are burned, the less tokens are in circulation, and that improves our tokenomics as well.

Thank You!

Thank you very much for reading this post and I hope you liked it, leave your thoughts in the coments below, and ...

Stay Awesome!

Sincerely,
Erik Gustafsson

My profile on We Are Alive

This is my own personal opinion, do your own research before investing, and seek legal counsel if uncertain.


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@flaxz

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The King thanks for thy outstanding update. Good news. Thanks for looking at for the value of the tribe. The Kingdom sends blessings in Love, Peace and Prosperity along with....

!ALIVE

@flaxz! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @kingneptune. (1/10)

The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.

Thanks a lot Sire, and I am glad that you like it, this will give people more incentive to get in now and not later.

!ALIVE
!BBH
!PIZZA

@kingneptune! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @flaxz. (2/20)

The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.

Because this is such an awesome post, here is a BBH Tip for you. . Keep up the fantastic work

thank you so much @flaxz for contantly updating and upgrading the challenges, contests, and value of the ALIVE token. I must admit I do not understand all the details of everything, but I just know enough and that it has a huge potential for growth. You are awesome!

Happy Easter in advance.

Made in Canva

!ALIVE

- @iamraincrystal - Moderator/Alive Video Master
_
This post has been curated by the Alive And Thriving Team, we curate good content in the We Are Alive Tribe that is on topic for #AliveAndThriving, and it's included in our daily curation report on @aliveandthriving.

Thanks a lot @iamraincrystal, and in particular it will give people more incentive to get in now and not wait and see.

!ALIVE
!BBH
!PIZZA

@aliveandthriving! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @flaxz. (3/20)

The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.

@flaxz! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @aliveandthriving. (2/30)

The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.

Because this is such an awesome post, here is a BBH Tip for you. . Keep up the fantastic work

I'm looking forward to seeing how this will play out. Thanks for the update.

Thanks a lot, and in particular this will give people more incentive to not wait around, but get in now.

!ALIVE
!BBH
!PIZZA

@mypathtofire! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @flaxz. (4/20)

The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.

Because this is such an awesome post, here is a BBH Tip for you. . Keep up the fantastic work

Thanks for sharing this update of the rewards pool to improve tokenomics and add of the new tags.
Have a blessed and wonderful Easter weekend 😎
!ALIVE
I will be including this content on the @heartbeatonhive curation collection

hboh (250 × 250 px).png

@flaxz! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @heartbeatonhive. (2/20)

The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.

Thanks a lot Ben, and yes this will have quite a big impact over time, have an awesome day.

!ALIVE
!BBH
!PIZZA

@heartbeatonhive! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @flaxz. (7/20)

The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.

Because this is such an awesome post, here is a BBH Tip for you. . Keep up the fantastic work

Thank you for everything you do @flaxz
Great update my friend have the best weekend 😎
!ALIVE

Thanks a lot Ben, and I hope your weekend was great as well.

!ALIVE
!BBH
!PIZZA

@benthomaswwd! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @flaxz. (8/20)

The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.

Because this is such an awesome post, here is a BBH Tip for you. . Keep up the fantastic work

I think this is a good move. Create a bit more scarcity in the long-run. I wonder what the ALIVE TRIBE would look like in 30 years... I'll be an old man by then! !ALIVE

@flaxz! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @ironshield. (3/20)

The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.

Yeah that is why we do it, it's about the long term best for the tribe, and yeah I will be 71 in 30 years lol.

!ALIVE
!BBH
!PIZZA

@ironshield! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @flaxz. (9/20)

The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.

Because this is such an awesome post, here is a BBH Tip for you. . Keep up the fantastic work

These names I do not.
know you mentioned
But groovy
!BBH
!LOLZ

!GIF FABULOUS

Thanks a lot Cheryl, and this was implemented a while ago.

!ALIVE
!BBH

@adysscheryl! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @flaxz. (13/20)

The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.

Because this is such an awesome post, here is a BBH Tip for you. . Keep up the fantastic work

Very cool
Thanks for update
I have a question on Enency
Is 3M minutes or month.
!ALIVE
!GIF HEAD ROLL

@flaxz! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @adysscheryl. (3/10)

The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.

Not sure where you saw that number, so I am sorry I can't answer.

!ALIVE

I figured it out minutes ...but thanks for taking the time to replied

!LOLZ
!ALIVE

@adysscheryl! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @flaxz. (1/20)

The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.

PIZZA! PIZZA! PIZZA! PIZZA! PIZZA! PIZZA!

PIZZA Holders sent $PIZZA tips in this post's comments:
flaxz tipped heartbeatonhive (x1)
flaxz tipped aliveandthriving (x1)
@flaxz(4/5) tipped @ironshield (x1)
flaxz tipped mypathtofire (x1)
flaxz tipped kingneptune (x1)
flaxz tipped benthomaswwd (x1)

Please vote for pizza.witness!

Because this is such an awesome post, here is a BBH Tip for you. . Keep up the fantastic work