I totally agree
Why some group have over billion which the community can decide and not algorand foundation
I hope the governance can change this tokenomics
Algorand had BTC and ETH to copy off, despite employing economic advisors they managed to totally screw up the tokenomics (whether on purpose or paying themselves as node runners in the millions). Either way the foundation has done a poor job at execution.
The only thing the team could do is to use community power to push for more adoption, yet there is zero retail engagement and no one knows about Algorand and the team continue to ignore retail and put all eggs in 1 basket by tackling Governments and Financial Institutions.
After years of doing so, you would think there would be some sort of result yet there is nothing of significance and the team continue to act like a superior technology in itself will win the day.
The ignorance of the team is what gets me. Silvio delivered the plan but execution are left to a bunch of idiots to implement.
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If the governance system really gives power the only thing that needs to be change is tokenomics
The best is to add a proposal on governance stage and fixing this tokenomics because I understand the team cannot be 100% Right all the time that’s why they even said the governance would decide…
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tokenomics is in too deep, the discount and free tokens to early investors (mainly VCs) can’t be rolled back and would be unfair to do so since they took the majority risk.
the only way is to increase demand. where there is demand it will snuff out the over supply. the team should focus on both commercializing the product and retail market to make this happen quicker.
Silvio micali had said in his recent video the governance would have power to change and decide what to do further.
yes but only on the proposals selected by the foundation. there will not be endless proposals tabled to be implemented. I believe it would be like 10-20 proposals for each quarter at the maximum otherwise tokenholders would be sitting there vetting hundreds of requests.
they select, then tokenholders vote on what they have selected.
Wrong …
It was clearly said the by algorand foundation the community would decide the tokenomics Durning governance phase.
You believe right you believing with your assumptions I don’t think you are watching their YouTube videos … micali and team did discussed and the community would decide how to proceed with the current tokenomics…
that the usage of the AERP! go read the latest update sent out yesterday “The Algorand Economic Evolution Report”.
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The vesting of the Early Backer and Node Runner Rewards allocated before inception has been accelerated following the EIP, and the Foundation is already designing and testing a different program that will reward new or existing Relay Nodes (no matter if Early Backer or not) with transfers that will work as an economic incentive but of different (smaller) order of magnitude than the pre-inception program aimed at Early Backers. Details of the program will be forthcoming.
Go through this 10 times before spreading fake news
yes which means it is still active, hence that part of the tokenomics cannot be changed. the “free” tokens of running the relay nodes have mostly been given out to early investors already. this cannot be changed.
learn to read and digest the information. if you read the first few pages of the “The Algorand Economic Evolution Report” you will see they are trying to justify why the token price has been so beaten down tried to paint a pretty picture by comparing to the performance of S&P, which is ridiculous but it is what it is.
(no matter if Early Backer or not) with transfers that will work as an economic incentive but of different (smaller) order of magnitude than the pre-inception program aimed at Early Backers.
again read this 10 times
because there are many people on crypto space who are like you
what’s pretty much given to the early backers is done and will continue distributing according to EIP-11252019AF. " As a result of acceleration, on June 16, essentially 2 years after launch, when the original vesting program was supposed to be completed, around 2BN had actually been distributed, almost 80% of the original predicted amount, but the distribution was not even but dynamically executed following a totally automated algorithmic dynamics."
state where it says the rewards for these early backers will be rolled back or discontinued.
2 billion has been distributed so that’s coming out of nowhere but your poor assumptions… you have no idea what you are talking. Such nonsense
What are you talking about ?
You have no way to prove that the 2 billion algorand has been distributed already
You are talking senselessly anything.
You are not able to prove your wrong assumptions.
Just ignore him, he has got two raids on the Discord server already and here he still has the initial nick.
Too shame someone from outside could put him in the same bag with those other guys having decent complains here…
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they had to invest to get their billion, it’s not free.
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Sure, can you please share with us how much they were suppose to invest to it? Only than we can consult if it was fair or not… Eg. If they would invest to it 1 billion usd which is certainly far away from the reality, I would ask what they have used that money for.
If they invested their time which they even got paid from university, i ask what are you talking about… The 1 billion usd to get on time investment… Not fair guys
If you are one of early backers I understand you try to protect them… If you are not I honestly do not see the reason why you advocate them and you do not reason that billion is too much and its not fair
what are you talking about? not clear. You can read the transparency reports to see how they are used and not one party gets the billion. Early backers and relays are a multitude individuals and organizations