[Community debate] Let's talk about the development funding pt. 2
Sorry about the shift from reddit to github, but I want to embed some images for you
First of all, let's address some straighforward FUD
I don't think they need any comment. Watch out for people PMing you on Telegram chat, that's their favourite tactics.
Few issues that people brought up
Why did you burn the premine to bring it back as a dev fund?
Simple. Having a weekly dev payment means that the developers can't run away with it like they can with a premine. In the same way that we can't run away with 3 mil coins that will be issued next year. The coins simply don't exist yet. We think this is a much better solution for the community than having 1 mil dumpcoin unlock that might hit the market at any point in time.
How much of the dev fund are you keeping for yourselves? You earn too much!!!!
Under the proposal below the three lead devs will each get paid 2564 ryo weekly. This is a significant pay cut for all of us. Just to put it in perspective, if 2564 ryo before tax was my family's only income source I would qualify for state benefits in UK. We obviously won't work full time at first - we still need to feed ourselves.
What happens with the rest of the dev fund?
Most of it will be used to pay staff. We need a lot of people to achieve what we plan to do. Part of it will also be used for exchanges, operating costs and marketing. If we have a surplus and no ideas what to do with it, then it's airdrop time baby!
Now the major milestones are set by the community based on proposals from the developers - these will have larger chunks of Ryo split among the people involved in the milestone, and who is involved is set at the start of the milestone development. In the case of a milestone being delayed, it is up to the community to decide the impact in the milestone reward.
[ 1 ] This would be viable if it was only us working on the project. However everyone else will need to be paid weekly in fiat. We don't have a credit facility for that.
Show me to what extent the dev fund will dilute my mining / holding?
Will my mining reward change?
No. We want to keep the mining curve the same.
Will you do a UASF to activate the dev fund?
Yes, we will need to fork to add it to the emission.
Sumokoin has a huge premine. Why are you reeemiting it all?
We decided to cut it slightly from option three by reducing the size of the dev fund to 8 mil and spreading it out over 6 years. This will permanently reduce the coin supply by 700,000 Ryo.
Remind me what the roadmap is? / What do you want to do with the money?
- Even faster x5 - x10 elliptic curve crypto based on new features in Broadwell+ and Ryzen CPUs. Given that this takes up most of the CPU time in the daemon, this is a major bottleneck and a a good target for performance optimisation of wallet and blockchain sync times.
- Faster processing (1) + Bulletproofs + more anonymous rings (5) to enable truly anonymous ring signatures (sizes 100+), instead of plausible deniability like with low ring sizes of today.
- Cryptonote blockchain compression, down into below 1 GB sizes for Monero, 100MB for Ryo.
- Combination of faster processing (1) and compressed blockchain extracts (3) and a specialised server to create Electrum-like wallets (Yes, baby! They are possible).
- Proper mathematical solution to Attack III described in here.
Support for option 2 or 3 was nearly unanimous. We decided that we can do without full Sumokoin premine and still achieve our goals, which lead us to a compromise solution:
8.0 mil development fund / 25641 ryo weekly (2564 dev salary)
This will be emitted together with the block reward, every week