GEP: Adjusting minting code regarding carbon offset

[sabrinasadik]

Dear friends,

A couple of years ago, the ThreeFold Foundation partnered with the Take Action Global (TAG) initiative to offset the carbon emissions generated by the ThreeFold Nodes on the ThreeFold Grid. During every minting cycle, a portion of additional tokens was minted and allocated to a dedicated pool for the TAG initiative. These tokens were intended to fund tree planting efforts, effectively neutralizing the carbon footprint of our nodes.

However, the TAG initiative did not move forward as anticipated, and as a result, the dedicated token pool remains unused. As of now, this pool contains approximately 14 million ThreeFold Tokens that were originally dedicated for the project.

We believe that these tokens no longer serve their intended purpose and that removing the pool dedication from the minting is the most responsible course of action. We have in the meanwhile committed to removing the keys which have access to this account ( GDIJY6K2BBRIRX423ZFUYKKFDN66XP2KMSBZFQSE2PSNDZ6EDVQTRLSU), therefore these tokens will remain on this account forever and will never be used. By doing so, we can:

• Remove the unnecessary inflation caused by these tokens.
• Strengthen the value and sustainability of the ThreeFold Token ecosystem.
• Maintain transparency and accountability to our community.

We value your input and want to ensure that this decision aligns with the consensus of our community. We would like to ask you to vote on this proposal on dashboard.grid.tf or in the ThreeFold Connect app before January 28th at 11AM CET.

If the majority supports this initiative, we will remove the pool dedication from the minting code.

Together, we continue to build a stronger, more sustainable ThreeFold ecosystem.

Thank you for your ongoing support!

Sabrina
On behalf of the ThreeFold Team

[randynho]

Call it a “toke burn” and send the tokens to a burn address, this is a lot clearer for anyone that these tokens are really removed from the pool.

[barkvador]

I agree with Randy, not sure to understand how you “remove” keys for access this account ?

[GEN]

Here are some alternative proposals for how these tokens could be utilized, with a strong focus on marketing and community development:

Marketing & Community Growth:

Community Contribution Rewards: A portion of the tokens could be used for a reward program that recognizes and incentivizes active community members for their contributions.

This could include content creation (articles, videos, tutorials), community moderation, translations, onboarding new members, bug bounties, and more.

Airdrops and Contests: Airdrops (distributing tokens to existing or new members) or contests with token prizes can increase ThreeFold’s visibility and attract new users. This could be tied to specific marketing campaigns or partnerships.

Strategic Partnerships and Integrations: Tokens could be used to forge partnerships with other projects or platforms, facilitating integration into their ecosystems or joint marketing efforts.

Developer Grants and Bounties: To encourage development on the ThreeFold platform, tokens could be offered as grants or bounties for developers who create new applications, tools, or integrations for the ThreeFold ecosystem. This fosters innovation and expands the platform’s utility.

Targeted Marketing Campaigns: A portion of the tokens could be allocated to targeted marketing campaigns on social media, crypto publications, conferences, and other relevant channels.
Influencer Marketing: Collaborating with key influencers in the crypto space could significantly increase ThreeFold’s reach and attract new audiences. Tokens could be used as compensation for their promotional efforts.
Other Potential Uses (Beyond Marketing):

Renewed Sustainability Initiatives (Alternative to TAG): A new, more transparent, and verifiable initiative focused on sustainability projects could be established, better aligned with ThreeFold’s current goals and objectives.
Key Considerations:

Transparency: Any use of these tokens will be communicated transparently to the community, with clear reporting on how they are being used and their impact.

Strategic Allocation: A clear strategy for token allocation will be developed, aligned with ThreeFold’s long-term goals and maximizing their impact.

I don’t know why these points might not be taken into account.

e.g. community project could need the TFT
About Me and Our Community Project 🌟 Zealy can be used

[scott]

Call it a “toke burn” and send the tokens to a burn address, this is a lot clearer for anyone that these tokens are really removed from the pool.

Actually burning them would decrease the total supply, and then we’d either mint more to reach 1bn or always have a caveat for why total supply is lower. Not minting this supply again is good for all holders of course, because they are out of circulation.

Here are some alternative proposals for how these tokens could be utilized, with a strong focus on marketing and community development:

We already have a treasury that’s allocated for purposes including marketing and promotion. Anyone can create a proposal here on this forum to issue a grant from the treasury.

The main issue there is actually not availability of TFT, but rather low liquidity. The market simply can’t absorb that much TFT supply right now, so we have to be careful about releasing supply in the form of grants.

[GEN]

We already have a treasury that’s allocated for purposes including marketing and promotion. Anyone can create a proposal here on this forum to issue a grant from the treasury.

The main issue there is actually not availability of TFT, but rather low liquidity. The market simply can’t absorb that much TFT supply right now, so we have to be careful about releasing supply in the form of grants.

Clearly you can give this number in the market, but you can always use a part for good