Nimiq Supply Curve AMA

Community
#43

Regarding @Rob question:

If it is possible to share - who were the financial experts, what organization?

As per agreement, we can not share full details. We looked at consulting companies (including Prysm Group) and realized they are charging an extravagant amount of money as their focus is typically ICO advising for new (non-payment) token issuance and they are mostly interested in getting a generous piece of the fund raising there. After continuous search we found an economic modeling advisor (former Morgan Stanley Smith Barney, now a director at Gemini Finance) who works in asset valuation and advised us in creating the assumptions & restrictions, reducing complexity and identifying reasonable boundaries. We also were advised about the arbitrary nature of this matter and the impossibility of there being “one optimal or correct” choice.

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#44

Thanks for your question, @rraallvv.
We discussed giving more voting power to people that lock their coins for longer periods of time, but ultimately decided against it. The main reason is that if people lock up their funds for voting, then they will not be able to use their funds for staking, which we feel is a more important use of the coins for the community as a whole.

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#45

I think those were all of the questions. :smiley:

Thanks everybody for participating, :hugs:

I hope this AMA clarifies our thoughts on the Supply Curve and its potential change. We will use this AMA as feedback and share more information in the coming weeks.

Feel welcome to share more questions and opinions.

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#46

Thanks for all the replies!

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#47

Seems like a wise adviser! Sounds like we have to make a the best educated guess possible (the most of us agree on) and move forward

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#48

Ups, missed this one. :slight_smile:

The reason we are bringing this decision to the community is exactly to avoid a loss of trust. We understand that if we took this decision ourselves the community would lose trust in the currency. But if it is the community itself to decide what we should do, then it doesn’t make sense for people to loss trust in the currency.

We feel that having a formal governance method would hurt the project by being too inflexible and possibly contribute to centralization of power. By keeping the governance informal and decentralized we can better adapt to changes and become more robust overall.
Remember that BItcoin and Ethereum also don’t have a formal governance method and still manage to progress.

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#49

Thanks for taking time to answer these questions and for the AMA. I hadn’t equated a governance model with centralization, but it makes sense that they would be connected.

It is also reassuring to know Team Nimiq seeks a mandate from the wider community.

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