So far in September …
Disbused Voting Rewards : 71,999 ICP
Node Provider Rewards : 500k * 7/30 = 116,666 ICP. (500k may be a low estimate for the month)
25k of the 72k was mine, and I locked it straight back up in gifts for people. I’m sure the swamp know this they’re just selective with their evidence.
So far this month, 71% of the inflation has come from Node Provider Rewards.
… and the Swamp are doing everything they can to still take from the 8 year stakers.
Swamp creatures gotta go. No exceptions. 
This is concrete and alarming….something that should be discussed objectively with an eye towards solutions. There are solutions to this issue. Many in fact…I reject that doing nothing and watching ICP die is a viable course.
I will be starting a bountied discussion on TACO DAO in the very near future about what the best course of action might be. We need to compensate node providers in a way that decentralizes the network without killing price. I’m excited to see what the DAO comes up with and I hope Dfinity considers our proposals objectively.
I will preface my comments by admitting I am no network topology expert, so take this for what it is me asking a question:
Shameless self promotion plug: https://npgeek-pt6.caffeine.xyz/
Why are there so many node providers that receive rewards for 28+ nodes when only 1 or 2 is assigned? Edit: there is even one provider receiving rewards for 28 nodes with ZERO assigned.
I understand there must be a need for back up machines but 50% of the network is these backups.
More shameless plugging: You can verify what i’m saying and verify @borovan claims for node providers rewards by viewing their deposit accounts at npgeek.
Thats nothing, node rewards in 1 month is 475k ICP, Maturity is 2.28mil ICP in 1 month. Minted ICP from maturity is about 900k per month. 1/3 inflation comes from node providers. As long as maturity is that high, ICP wont gain any token value.
Dfinity is selling about 1.5mil ICP per month from ghost unlocked neurons. 2.87mil ICP sell pressure every month.
Ok, so magical ghost ICP is getting sold now. Is this ICP in the room with us right now?
71% of the new minted ICP is coming from Node Providers.
Dfinity unlocked its 47mil ICP @ April 14, but they started to sell it even before, this is why supply went up to 532mil.
Useless picking timeframe when 71% will drop to 33%.
What about this?
33% is still higher than the 11% claimed. Let’s just see how the month unfolds, it’s not looking good for your Node Provider scam cabal so far.
Other alarming facts/ statements do not make this less alarming.
I believe in free markets where people can buy / sell and transfer. Adam is an individual and I wont bother chasing down your facts since we can’t control individuals.
We do, collectively, control how the Internet Computer works and how it incentivizes different behaviors among the different parties involved.
Right now node providers are incentivized to dump and short ICP because they have no ‘skin in the game’ when it comes to ICP price. Their rewards are fixed in USD terms and I bear them no ill will since they are just behaving rationally by hedging their future rewards against future price decreases.
It seems to me that Node Providers who believe in ICP could be convinced to stake an 8 year neuron worth ~1-3 years of rewards that they would be paid. I know a number of 8 year neuron holders who would love to have had the returns that node providers have enjoyed over the last couple of years.
A simpler solution would be to just slash the rewards amount - less to dump…
I am in favor of exploring both.
What are your thoughts on Node Providers?
Can someone who knows answer this?
It was because Aviate Labs and Wenzel masterminded a change to the tokenomics where the maximum per Node Provider was reduced to 42. They moved 28 from many reputable providers to shell companies owned by the swamp.
They’re not needed right now, they shouldn’t have been allowed to do it. They’re going to kill ICP if we don’t stop them.
If this is true than Borovan is trolling everyone. I remember He told that He has about 10% VP, it makes His income about 7600 ICP per day. That wallet cluster has similar reward data.
I hope for all of our sakes that this is not a deliberate plan but simply an oversight and something that can be corrected. But it appears to me that we are overpaying service providers who are providing services without the requisite demand.
Lol ok. It’s gone from 1% to 6% to 10%, make your mind up. Are we counting all the seed investors and people that follow me as my personal revenue?
Why are you all ganging up on the person that is exposing the Node Provider scam?
What scam you talking about, you only dont like inflation, pump ICP to 50 usd and node rewards are only 47.5k ICP, but maturity is still 2.2mil ICP and over 1mil will be minted from it.
This is about inflation. And if you believe in that then nodes fall under the same definition. Free to buy or sell.
But overall voting rewards last month was 925k icp while nodes were 439k
the 925k was disbursed maturity so it hit the market and caused inflation. Nodes accounted for only 47% of inflation.
I’m not sure why people are being convinced that nodes are causing this massive amount of inflation when the numbers say otherwise.
But I do believe we need an overall reduction in inflation. Meaning both nodes and voting rewards get reduced
I personally think this would be a dangerous approach, and a bad precedent. I think it’s good to have an open discussion about all the options though.
I think the staking solution you mentioned is the right way to go for numerous reasons.
Recently rewards boosts were introduced for node providers who would establish/relocate nodes in under-represented countries. I believe that instead of this, there should have been a reward boost mechanism for node providers who opt to stake a significant portion of their rewards automatically on an ongoing basis into a slashable neuron.
I hope this is the direction that we go in. It seems to be part of the plan laid out by DFINITY. I’m not sure why they’ve been silent on it recently though (no idea what the timeframe for introducing this approach is).
You do realize nodes in total since genesis only account for 32.39% of the networks inflation.
And this number does not include the undisbursed icp.
If we include all icp that’s to be minted and has been minted it’s much much lower.