Save % of Blockrewards towards Swarm Masternodes Fund


#1

Save % of Blockrewards towards Swarm Masternodes Fund

Description of the proposed change to Swarm Network Policy

  • From every monthly reward from the masternodes pool, a chosen % will be sent upfront to a secure wallet for the agreed amount of time based on the following options:
  1. Yes, for 3 years, with the monthly percentage rate delivered to the Swarm Masternodes Fund (SMF) being 12.5% throughout each year
  2. Yes, for 5 years, with the monthly percentage rate delivered to the Swarm Masternodes Fund (SMF) being 12.5% throughout each year
  3. Yes, for 3 years, with the monthly percentage rate delivered to the Swarm Masternodes Fund (SMF) being 10.0% throughout each year
  4. Yes, for 5 years, with the monthly percentage rate delivered to the Swarm Masternodes Fund (SMF) being 10.0% throughout each year
  5. Yes, for 3 years, with the monthly percentage rate delivered to the Swarm Masternodes Fund (SMF) being 5.0% for year 1, 7.5% for year 2, and 10.0% for year 3
  6. Yes, for 5 years, with the monthly percentage rate delivered to the Swarm Masternodes Fund (SMF) being 5.0% for year 1, 7.5% for year 2, 10.0% for year 3, 12.5% for year 4, and 15% for year 5
    7 Reject;
  7. Abstain;

As a Multi-Option Ballots this executes as a range vote. “Option X” is approved when its voting score is the highest at the end of the Voting Period, amongst all options, including the voting score for “Reject”.

This particular GAB only focuses on approving the creation of the Swarm Masternodes Fund (“SMF”) to begin saving as soon as possible while the rewards pool is still fairly large. It DOES NOT set rules regarding when or how the funds will be used.

Deployment of funds will be decided with dedicated proposals. If a future GAB will be approved to entirely cancel the SMF, the tokens in the SMF will be sent to the wallets originally meant to receive them. However, this restitution action will bear a small cost which will be included in its dedicated proposal and be paid with the funds by then accrued within the SMF.

Modeling of the options available at: https://docs.google.com/spreadsheets/d/1zx5krx-mPaxVYQsyusGHkbWDYWIdCS5c2EUyV9h-gLU/edit?usp=sharing

Any of the above rules can be amended in the future by a new GAB.

If this current proposal is adopted, the Swarm Network will aim to implement the changes and start the SMF between the end of February and the end of March 2020.

It will require the creation of a multisig Ethereum address governed with a majority vote by the Swarm Council.

The community is to be made aware of the identity of those Council members holding the signatures to the Swarm Masternodes Fund.

The Ethereum wallet containing the Swarm Masternodes Fund will be made public.

Purpose and rationale for the policy change and its intended outcomes

Despite the number of nodes possibly changing with time, the percentage of yearly rewards set aside for the Swarm Masternodes Fund is expected to remain fixed at the chosen rate for the chosen amount of time, as it is simply a percentage of the total monthly pool, irrespective of the number of active nodes.

The SMF would foster a climate of collaboration between members, nurturing engagement and the discussion of ideas enriching the network’s strength, development and reach.

Additional information for Governance Actions requiring the expenditure of Swarm Treasury funds

It will bear no cost as any necessary change to the Masternode rewards delivery will be done in-house by developers of the Swarm Network community.