Here some of the questions we gathered on the governance forum, with some answers to help you:
Question: By releasing the tokens and locking them, will we be able to keep track of how they are vested, and will we see all these details outlined?
Answer: Yes, by releasing the tokens and locking them, we will be able to keep track of how they are vested. All the details related to the vesting of tokens will be outlined and transparently available for the community to view. Here is a recap of proposed vesting for QRDO Tokenology:
- For the Qredo Team and Advisors, the allocation and vesting schedule remains unchanged.
- For Public Sale Qredo Investors, the allocation and vesting schedule remains unchanged. Note that Private Sale Qredo Investor vesting has already concluded.
- For the Ecosystem Fund, a proposal to expedite vesting of the remaining allocation of ~55 million tokens and allocate an additional 390 million tokens for staking rewards. Tokens in this fund will be locked and released based on the release rate function.
- For the Staking Fund, a proposal to allocate 150 million tokens for decentralization bootstrapping. Tokens in this fund will be locked and released based on the vesting decay rate.
- For the Treasury Fund, a proposal to expedite vesting of the remaining allocation of ~25 million tokens and an allocation of an additional 250 million tokens to fund partner programs, grants and loans to market makers and exchanges to improve QRDO liquidity in the market.
- For the Public Goods Fund, a proposal to allocate 50 million tokens that are to be instantly vested and locked. As the fund will primarily be used for airdrops to incentivize transactions, it is expected that the majority of these fees would be used for protocol fees and will ultimately be burned.
- For QRDO Token Burns, a proposal to burn 160 million QRDO tokens.
The vesting process will be carefully managed and governed through the Qredo network, ensuring that the token release schedule aligns with the network’s long-term sustainability goals. This transparency is an essential aspect of the Qredo Tokenology, fostering trust and confidence among the community and stakeholders.
Question: What is the minimum stake required to run a node?
Answer: 2,000,000 QRDO tokens
Question: When will this delegated proof-of-stake (dPOS) be launched?
Answer: There is no date given yet. We aim at first releasing our fPOS model and update, and then the dPOS model later this year.
Question: Why was the decision made to charge 1 QRDO per transaction, and can we consider fees denominated in USD or a scaled model?
Answer: The decision to charge 1 QRDO per transaction was made as part of the tokenomics model to support network security i.e., to prevent spamming attacks, and incentivize staking. Considering fees denominated in USD or a scaled model might be worth exploring for better user experience.
Question: Is the 21-day unbonding cycle in the staking model a necessity, and is it a cosmos-dependent aspect of decentralization?
Answer: The 21-day unbonding cycle is a necessity to enhance the stability of network security.
Question: Are some team members also investors?
Answer: Yes, many team members own QRDO tokens, aligning their interests with the community.
Question: How will the burning of protocol fees impact the total circulating supply?
Answer: The burning of protocol fees will impact the total circulating supply by reducing it over time. As protocol fees are collected from various transactions within the Qredo network, they are subsequently burned, permanently removing them from circulation. This burning mechanism creates deflationary pressure on the QRDO token supply, leading to a reduction in the total circulating supply. The impact of burning protocol fees on the circulating supply will depend on the transaction volume and usage of the Qredo network over time. Higher transaction volumes and increased adoption of the Qredo ecosystem can lead to a more significant reduction in the total circulating supply through protocol fee burning.
Question: How will service fees paid in stable coins be used to buy QRDO?
Answer: Some institutional users prefer, for ease of use and accounting, to manage their fees in USD denominated tokens. Based on that, we will allow services fees to be paid in stablecoins, but in the backend those will be used to purchase QRDO.
Question: Is it possible to achieve deflation within 12 months?
Answer: Achieving deflation within 12 months is not possible.