--
You received this message because you are subscribed to the Google Groups "Stellar Developers" group.
To unsubscribe from this group and stop receiving emails from it, send an email to stellar-dev...@googlegroups.com.
To post to this group, send email to stell...@googlegroups.com.
Visit this group at https://groups.google.com/group/stellar-dev.
To view this discussion on the web visit https://groups.google.com/d/msgid/stellar-dev/CALGT9GMK%3Dj%2B-mSK2%2Be_68K5rGJg2n38WZpFrdXgp1vb8H7165w%40mail.gmail.com.
For more options, visit https://groups.google.com/d/optout.
To view this discussion on the web visit https://groups.google.com/d/msgid/stellar-dev/CAEYuE%3Dv%2B1xy-4f7GDYQv5rfYDmFH_AgTM%2BWvbvhzZHOne1kcPQ%40mail.gmail.com.
For more options, visit https://groups.google.com/d/optout.
To view this discussion on the web visit https://groups.google.com/d/msgid/stellar-dev/CACUz3Rfdhdw7PPVhzVEJ%2BNFR9NG2C9Kc%3DU2afzX_8DwuS5xgzA%40mail.gmail.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/stellar-dev/CAAeSNL_0ZK_9b0mPrct162-0q7bCOr7PzM%3DNbUcWeKXPLBDQSQ%40mail.gmail.com.
--
You received this message because you are subscribed to the Google Groups "Stellar Developers" group.
To unsubscribe from this group and stop receiving emails from it, send an email to stellar-dev...@googlegroups.com.
To post to this group, send email to stell...@googlegroups.com.
Visit this group at https://groups.google.com/group/stellar-dev.
To view this discussion on the web visit https://groups.google.com/d/msgid/stellar-dev/87r2h3q405.fsf%40ta.scs.stanford.edu.
I say get rid of it or distribute it to validators by some scheme as to encourage network reliability.
Because of all the assets that are going to grow on the network, it is unlikely we reach the point were liquidity is missing. Thus, pushing investors out in order to release liquidity would only damage the network.
I agree with you that productive nodes of the network should properly be compensated. However, I'm not sure validators can really be said productive, as in case of chain split everybody would probably follow the Stellar Foundation truth. I question their utility besides redundancy, which is already sufficient anyway.
However, side-chains gatekeepers and lightning network gateways are both going to be a critical component in the upcoming scalability race and should receive proper incentive to they can develop at a good rythm.
A very great thing in the current design is that the more the main chain is overloaded, the more fee will raise so the more those hubs will get incentive through fee redistribution to play their role in lightening main chain load.
--
You received this message because you are subscribed to the Google Groups "Stellar Developers" group.
To unsubscribe from this group and stop receiving emails from it, send an email to stellar-dev...@googlegroups.com.
To post to this group, send email to stell...@googlegroups.com.
Visit this group at https://groups.google.com/group/stellar-dev.
To view this discussion on the web visit https://groups.google.com/d/msgid/stellar-dev/3d9b7f4e-45f2-4505-8ce5-05e30bf0287d%40googlegroups.com.
Title: Disable Inflation Mechanism
Author: OrbitLens <orbit...@gmail.com>
Status: Draft
Created: 2019-07-11
Updated: 2019-07-11
Discussion: https://groups.google.com/forum/#!topic/stellar-dev/LIFvbMi9jPo
Protocol version: TBD
This CAP removes the inflation mechanism.
Inflation mechanism was originally planned as a simple way for users to support important ecosystem projects and keep the overall XLM supply slightly inflationary.
Turning off inflation requires several changes in Stellar Core, namely Inflation
and SetOptions
operations behavior, as well as fees processing routine. At the same
time, it can be implemented without XDR changes and breaking protocol
changes.
Inflation
operation always returns INFLATION_NOT_TIME
result code.SetOptions
operation returns SET_OPTIONS_INVALID_INFLATION
result code when a users tries to change inflationDest
.feePool
and inflationSeq
for a newly created ledger are set to zero.The proposed approach does not require breaking protocol changes and allows turning on the inflation mechanism in the future if needed. Due to the simplicity of proposed changes, the implementation potentially should require minimum efforts.
None.
This CAP contains no breaking changes and is fully backward compatible.
inflationDest
field from Account
entry, as well as feePool
and inflationSeq
from LedgerHeader
?Disable Inflation Mechanism CAP
Preamble
CAP: TBD
Title: Disable Inflation Mechanism Author: OrbitLens <orbi...@gmail.com> Status: Draft Created: 2019-07-11 Updated: 2019-07-11 Discussion: https://groups.google.com/forum/#!topic/stellar-dev/LIFvbMi9jPo Protocol version: TBD
Disagree with the concept of removing inflation and proposed CAP.
First of all, the narrative that “inflation doesn't serve its original purpose” is questionable today. LOBSTR and Stellarterm are two examples of how inflation helps with funding the ecosystem projects today. (inflation stats: 115,000+ accounts with ~90M XLM aggregated votes).
RippleFox and Binance are other examples of the businesses that already benefit from Stellar inflation. Several other projects such as Stellarport, Stronghold and Centaurus were putting efforts into collecting payouts from inflation. And as more XLM are distributed, it will become easier to overcome inflation votes threshold, and start receiving payouts.
Second, we are working to simplify access to inflation payouts for other entities (ecosystem projects) by giving access to LOBSTR inflation pool and removing min vote threshold. Several projects have expressed their interest and will be starting beta test shortly - so the number of companies getting that benefit from inflation will increase in the future.
Also, non-inflationary currency is de facto deflationary due to lost keys, bugs etc.
Actually, it’s possible that the percentage of the coins lost forever each year exceeds the 1% inflation rate of Stellar.
It could be argued, that mass adoption of a crypto currency requires multiple transactions and people constantly using their coins, while deflationary currency provides an incentive to hold the currency and punishes spending.
However, we are also seeing some concerns with the current situation around inflation as well.
Since SDF gets over 95% of inflation payouts (their inflation address currently has 94B+ XLM votes), which means that it receives roughly 1,000,000,000 (1 billion) XLM from inflation on a yearly basis. This is probably comparable to the amounts that SDF distributed to end users and partners during the last year.
As far as I know, SDF has not clarified yet how they intend to use these 5+ billion lumens received from inflation. Some people have expressed the idea that SDF should not claim inflation over non-distributed lumens, or, since the protocol does not know which lumens are distributed, just burn the inflation payouts from non-distributed lumens. This can be done by sending XLM to a locked account and does not require a protocol change.
We believe that this solution would resolve the concerns of the majority of community members that currently vote against inflation.
Disable Inflation Mechanism CAP
Preamble
CAP: TBD
Title: Disable Inflation Mechanism Author: OrbitLens <orbi...@gmail.com> Status: Draft Created: 2019-07-11 Updated: 2019-07-11 Discussion: https://groups.google.com/forum/#!topic/stellar-dev/LIFvbMi9jPo Protocol version: TBD
--
You received this message because you are subscribed to the Google Groups "Stellar Developers" group.
To unsubscribe from this group and stop receiving emails from it, send an email to stellar-dev...@googlegroups.com.
To post to this group, send email to stell...@googlegroups.com.
Visit this group at https://groups.google.com/group/stellar-dev.
To view this discussion on the web visit https://groups.google.com/d/msgid/stellar-dev/fb77a041-4a20-467a-8a5b-014662188df6%40googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/stellar-dev/CAJsXWD%3DpD47O5wMDednWvsODuX%2BRusWkE62iz28U4juNz2Su1A%40mail.gmail.com.
To unsubscribe from this group and stop receiving emails from it, send an email to stell...@googlegroups.com.
To post to this group, send email to stell...@googlegroups.com.
Visit this group at https://groups.google.com/group/stellar-dev.
To view this discussion on the web visit https://groups.google.com/d/msgid/stellar-dev/fb77a041-4a20-467a-8a5b-014662188df6%40googlegroups.com.
For more options, visit https://groups.google.com/d/optout.
--
You received this message because you are subscribed to the Google Groups "Stellar Developers" group.
To unsubscribe from this group and stop receiving emails from it, send an email to stell...@googlegroups.com.