Proposition about Grid v3 vesting scheme

#1

I have a question/proposition for the vesting scheme on v3.
As it is right now, 100% of the farming rewards get vested for 24 months or up to 30% utilisation.
Thing is that all these tokens that are vested it will grow the token price to a fictitious price, and when the 24 months pass for early nodes/farmers they will try to take advantage of that price massively selling the token and bring down the price to unimagined level. Am I wrong about that?
Also the 100% vesting will not give the appropriate funds to farmers for electricity, maintenance and upgrade of their nodes that will have to fully cover it by themselves with a hope that as soon the vesting scheme get over will try to redeem them as fast as they can when the price is still up.
My proposition is to leave a 20-30% of the tokens not vested, for farmers being able to cover some expenses, and when the vesting time out it will not be selling the tokens with a massive rate.
What do you all think about it?

4 Likes
#2

I think this will probably be one of the first proposals done for the DOA and will probably be approved at some percent. Btw, the vesting hasn’t started yet,but will soonish?

2 Likes
#3

Doing some figuring on average running costs for different setups and locations will be a first step in determining what percent is needed. I think having a certain (low) percent available is also important for price stability. Don’t want a massive accidently coordinated selloff if everyone gets unlocked at the same time.

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#4

Or other ideas…1) all farming rewards can be spent freely on tfgrid (and any tft earned from utilization is naturally not locked). 2) unlock a percentage of the tokens continuously or semi regularly. Say 4% per month such that it takes about 24months to fully unlock. Hypothetically if you have 1000tft of continued monthly farming you would unlock a total of 40tft month 1, 80tft month 2, etc. Then by year two you’re unlocking the equivalent of the full amount each month

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#5

I totally agree that there could be some small changes which enables us to use tft and ThreeFold in a better way. As I hope for the long run I wouldn´t say 30%, more like 15-20% max.
I would also like to be able to spend my earned/locked tft on the grid itself for services.
Last but not least it would be very cool if I could use ressources on my own node for myself. I would love to reserve 10% of my node ressources for myself, for example for VMs. Of cause I shouldn´t get payed for those 10%.
Maybe they could also implement a “charity” option? Either to donate some tft to a charity or a comunity project? Some kind of crowdfunding/invest in grid projects on tft basis.

2 Likes
#6

Hello, all very good and interesting views. As @FLnelson said the vesting is not activated in the current farming rewards scheme. We have written down in the wiki what we believe is a possible way to make the token price not fluctuate too much, but - as stated - vesting in a way is postponing the issue to a later date.

Before this is implemented I feel that we will go to the community and ask what is the best way to do this, so please keep posting ideas and opinions.

2 Likes
#7

I like both those ideas. Perhaps even donate utilization to a charitable cause