CBR Proposal Completed -- What's Next?
Resources
Full Proposal
Full Proposal
Written Updates
CBR Update 1
CBR Update 2
CBR Update 3
Recorded Discussions
Gridcoin Hangout #55
The Fireside Chat 03 - CBR
The Fireside Chat 08 - CBR + MRC + Sidestaking
Summary
- 75/25 split with 10 GRC block reward is the winning option
- The next step is testnet
- The implementation timeline will be decided on by core devs based on what else needs to be done
The Poll
The poll ended June 6th at 4:36 UTC.
A total of 331 votes were cast.
The table and stats below are based on figures from the Gridcoinstats block explorer which, at the time of this posting, has not updated the most recent 5 votes. It is based off of 326 votes. The most up to date results can always be found in the client by clicking "Load History" in the voting tab.
Results
| Option | Votes | Share % |
|---|---|---|
| 75/25 With A 10 Grc Block Reward | 172 | 65 |
| 85/15 With A 5 Grc Block Reward | 82 | 27.64 |
| 70/30 With A 13 Grc Block Reward | 13 | 2.95 |
| 65/35 With A 16 Grc Block Reward | 25 | 2.43 |
| Reject Proposal | 12 | 0.83 |
| 80/20 With A 7 Grc Block Reward | 35 | 0.83 |
| Abstain | 12 | 0.31 |
Participation
| Active Vote-Weight Shares | 88,629,670 |
| Voting Shares | 128,130,113 |
| AV-W Percentage | 144.57% |
| Validation Status | Super Validated |
Pool Votes
GRC pool registered 638 additional votes with the majority of shares also going for the 75/25 split.
These results can be viewed here.
Future Action
The implementation timeline will ultimately be made by core devs.
- Get CBR builds on testnet
- At least 1 month of testing, likely several months
- Implement through a mandatory update
As has been discussed, CBR and MRC (or some new research reward distribution mechanism) are closely related and may be implemented at the same time or in relatively rapid succession. If this is the case, CBR will likely be held until MRC is ready to go. MRC is currently in the pre-development stages where discussions on implementation details are still being discussed. This can take some time. Feel free to get involved with the discussions on github, slack, discord, or any community forum!
Conclusion
Thank you everyone for your participation! We have successfully decided on a base economic model and block reward moving forward. We have also presented an example of how the active vote-weight metric works. This poll had more vote-weight participate than actively secured the network over the duration of the poll, which helps shows its importance in the eyes of network participants.
The 10 per stake makes it more worthy to keep the system powered on and make a little profit to secure the network. I have a feeling more people will start staking the coin which should not only drive price up but help gridcoin become even more public and secure.
I would really love to at some point see some more work done in terms of easy setup to start mining projects and earning from POR the setup process I feel really holds a number of people off from contributing. Are there plans to simplify this more?
We're always looking for ways to smooth the on-boarding process, but part of it has to do with BOINC. BOINC itself is undergoing a flurry of improvements and developments that I think might make things simpler in the coming year or years.
Interesting development... few days ago, the 85/15 option was leading the CBR vote, now the results is totally different. How to interpret this vote? Is it a vote promoting the GRC investors?
Up until a week ago, 75/25 was the leading option. Then, user Test1235 voted for 85/15 with 31 million shares, swaying this choice to the lead. Then, 2 days before the poll ends, user PhilD votes with 57 million shares to bring 75/25 back into the lead.
When combined with the pool votes, these two whales accounted for 65% of all voting shares cast.
It looks like we need to limit the voting power of whales. In statistics, this is the same problem as reducing the effect of influential observations or outliers.
Socialism will not help anyone in this case. Easily the coins can be distributed to several CPIDs, and the result will be the same, just less transparent.
You are more than welcome to contribute to the discussion thread I opened on Github. It seems to be a tough issue to address. So if you have any ideas, by all means feel free to share.
https://github.com/gridcoin-community/Gridcoin-Tasks/issues/220
Why? You see they are not block-voting so whats the problem?
Interestingly if both those whales had not voted 75/25 would have won any way. It does make me feel like my vote was wasted effort.
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... and the crowd goes wild..!
Almost a thousand total votes between the chain and the pool, and the raw numbers as well as the weights seem about 2:1 in favor of 75/25... I don't really see much room for complaining about whales here. I was hoping 80/20 or 85/15 might win on the back of a whale, but then we would have heard a lot of complaining that a minority was forcing that into existence. As it is, I think both majority and weight say the same thing.:) Looking forward to seeing how it turns out.