Let us start the discussion about the Dom’s fascinating proposal.
Firstly, I understand the proposal is also to preserve people from taxes, I think we should already determine if it would be possible combinating the current system with the one that proposes @dominicwilliams, because not everybody has this taxes problem. If possible, then let us determine if it is preferable or not.
But if it is not possible or preferable to combine the current tokenomics and this new one, let us continue :
Even if I understand the purpose, the collateral effect will be a doubled unpredictability about APY. The IC is very beautiful, but let us not forget that its gas are mainly investors and none investors invest blindly. They need at least « hard numbers », if not hard money.
Currently, investors can’t calculate their fiat APY, but they can calculate the ICP APY. With this proposal, they must add a second and wide volatility (the ICP APY one) to the first one and depending on the first one. We even may speak about a tripled volatility given this : « the disbursal of maturity will occur after a delay, which process cannot be canceled, and the amount of new ICP the maturity shall produce will depend on ICP price trends as current AFTER the delay ».
We may be entering into a bear market, so basically people are preparing to earn - 30% ICP rather than + 5%, maybe for a long while. So not only people would not able to sell their minted ICP for a good price, but they would also have less ICP. But even the day when ICP would rise again, at the moment they would initiate the disbursing delay hoping having + 5%, they would not know if during the delay, the price won’t drop, making them earning - 30% rather than the + 5%, and - 30% of a low priced ICP.
I fear that a lot of new investors will not enter into a such undetermined APY and that a lot of current stakers will encounter financial difficulties. Let us not forget that the tokenomics must be thought not only for the current stakers, but for the tomorrow investors, and it must be explainable. We would have very complex tokenomics, very much more than other projects, and let us not lie to ourselves : investors would choose the simplest APY. So let us be careful : a white paper for the geek has been forwarded this month, let us not forget that the tokenomics must not be thought for ICP geeks. The geeks we are, are not enough to make the ICP sustainable economically. We must catch new investors, and these new ones would be the more vague and the less attractives of the whole market. People will even prefer stable coin staking. So let us not forget that we must expand, not stay between us.
Look forward to reading you all.