What changes can be made to SNS-1 in the coming new year?
Please comment below on what you would want to see.
And please be purpose driven.
A suggestion to increase tokens is not good enough. Explain further why that is the case and what limitations currently exist.
It would be nice to have this conversation as we are winding down the year, that way clear goals can be set for next year.
I like the idea of developing bounties as a way to start making changes on the front end design. However I am not for staking income for locked neurons in SNS-1 as I’d want more avenues of tokenomics being explored like the parameters being used.
Maybe add an option to make it possible to directly unlock a neuron, for 10% of the amount that needs to be unlocked. This 10% fee will gradually decrease as the unlocking period approaches 0 days.
Example:
User has 10 SNS-1 locked for 30 days (amount needed to vote) and decides to directly unlock. User receives 9 SNS-1.
User had 10 SNS-1 locked for 10 days and decides to directly unlock. User receives 9.666 SNS-1.
The fetched fees go to all accounts which are locked for 30 days+. This way less people feel pressure to unlock when price changes are approaching, as this would mean they will receive more rewards for their locked SNS-1.
You raised very good points, however 10% is not good enough. That is what most religions claim is to be given to the church. But as we know it often is low of a budget. I’m sure you have heard of the phrase give 10% to the pastor
What I suggest is 33%. When unlocking tokens immaturely 33% of the tokens would be held back.
And there should be ability of the SNS to discount tokens for sale to Maintain a trigger of persisted sale of tokens. If the price falls from 2 to 1 on a dex, the SNS can incentivize sales up to 0.75. Options can be if this would be on a DEX or mainnet and I’d suggest rather than the discounted sale being on DEX it should occur on mainnet.
I am not an expert just from experience I see that a 10% is not enough to sustain emergency protocols in massive sells that would likely trigger a rug and pull.
However a mechanism to balance sell and maintain more than 1/3 of the tokens intact would result to stability of the token.
This is not to enrich any individual but it is to prevent bad actors who invest with ill intensions from successfully dissolving that token.
Also proof of collateral items can be used to penalize those trying to cheat the system such as using bots for say purchases of over a million dollars worth of the token.
The reason I made that post is not because I have any good ideas on how the SNS-1 tokenomics should change.
The reason I made the post is just because devs need some practice submitting proposals that have code attached. One harmless way of doing that is to get them to update the website in fun ways.
We are used to Dfinity pushing out all the code changes. For the SNS to take off we need normal developers to feel empowered to push the code changes to the SNS.
