As I’ve been following this thread it don’t think we’ve identified a working solution that will evolve to consensus, though correct me if I’m wrong @Accumulating.icp; and my deepest thanks for introducing this topic with due amount of research and sensitivity.
The general sticking points for proposals so far is that messing with NP rewards is a bad idea, and no-one knows where money to make up the difference would come from. I’d like to introduce a more drastic, though simple solution that addresses the issue at a different ‘root’.
By @Accumulating.icp estimates, inflationary sell pressure at current levels comes from:
Monthly N.P Rewards | 583,577
Monthly N.P Rewards Sent to Exchanges | 275,287.49
Monthly Disbursed ICP | 1,091,778
NNS neurons contributing 2-4X current NP rewards tells me it’s closer to the ‘root’, and we know from @Kyle_Langham that neuron dispersion will continue at ~1M+ ICP/Month for about the next year, and then drastically decrease. My interpretation of this is that we just need to get ‘over the hump’ without having node rewards do irreversible damage to ICP’s Total Supply.
Therefore my proposal is an NNS upgrade the locks dissolving neurons with a short dissolve delay while ICP is below a certain price (I’d recommend $5/ICP). Rewards continue normally, but dissolving neurons with <12month dissolution become locked until ICP rises above $5 again. I think maturity is insignificant enough to remain unchanged, but we can decide together if the community supports this idea.
It’s not the team’s place to initiate this, but I think there is finally legitimate precedent to stop the bleeding, and not for ‘token price’, but so I can build with the peace of knowing this network will exist in a year. It will most anger the people that it best serves, and it will take all the fuel out of the fire that ICP’s alleged ‘enemies’ might be looking to use towards something more permanent at this very moment.
Caveat: This is an absolutely horrible idea IF there’s still a significant amount of liquid ICP held by $0.03 round seed investors or other VCs. My impression was that they pretty much all got out, but I don’t know if this can be investigated/calculated.