I think it would be worthwhile to have a vote on the DAO to change the terms in order to end V2 minting. If in 12 months from now there’s a way to profit off V3 minting with no benefit being provided to the greater community I would choose to have the terms for that changed as well.
GEP Farming v3 Start Price June 2022 and v2 Minting! [Closed]
Perhaps we move on and keep building v3 farms without the people who want to continue minting on V2, I would rather the community is made up of majority of farmers who are here for the betterment of the project with long term goals in mind and not just minting tokens to eventually dump on the market.
I wonder what the split is between people making the decision to stay on V2 and people who just plugged in a node and forgot about it.
3 Likes
I wonder if a change that just required farmers on v2 to acknowledge a dialog about migrating to v3 before their rewards are transferred could bring people up to speed?
2 Likes
We could send a reminder along with the minting hash sent by email every month, inviting v2 farmers to migrate to v3.
1 Like
I think I have the perfect solution!
As the rewards on V2 are calculated based on the total existing number of TFT’s (the more available, the less you get rewarded), let’s multiply the rewards for V3 farmers by a factor of 100 so the rewards on V2 go into a steep descent making those farmers want to move to V3.
No breach of contract for V2 farmers, and V3 farmers won’t complain either 
Lol, wouldn’t that lead to a token dump crashing the value of TFT… I would rather not go for the nuclear option which benefits nobody long term.
Off course, just for laughs but we really need to move those on V2 to V3
I don’t think this would make the validators very happy…
We are still running (partly) on V2.
There are a couple of reasons we did not migrate yet:
- New investments needed for the servers that we already invested in. (@reignmack’s argument)
- Getting the new disks is also a hassle if you have more than 5 nodes
- We actually need to reconfigure all our nodes in terms of memory (we used to be memory bound, with V3 we will be SSD bound, so that means that we need te redistribute memory (simply taking some banks out or adding is not ideal for performance perspective)
- We are in the proces of making a new deployment street for V3, but that takes time…
That being said, I do see that we need to move to V3. Changing takes time, I would understand diminishing returns but there should be a good transition plan (No new nodes after x months from now, Same returns for Y months and scaling down from month Y to month Z)…
To do this democratically makes it a bit difficult, than the next GEP would be to redistribute TFT from the top 1% accounts to all the other accounts…
2 Likes
appreciate the input from a v2 farmer. thank you.
1 Like
Might be worthwhile getting a new thread started for July. Given the recent overall crypto crash I’m very interested in what the DAO wants to do for the July starting price.
Yes and also we need to discuss the V2 minting, and how to help the transition to V3 without breaking the agreements on V2.
V2 Question for Next Poll
Should difficulty adjustments accelerate for V2 minting?
Then if we get a yes, we can decide the details of this adjustment, or questions in the next poll can also include modalities of difficulty adjustments.
That would be good. This week is a bit swamped, how about next week? I don’t know if there are other parties interested?
I’ll pm / send you an invite for next week. Please make it out of the swamp this week 