Agreed it’s a very good option for families. For my personal account I run a 1 of 2 MPC as have a back up seed just incase.
At some point I will expand it to 2 of 3.
I also run a fund with a colleague that we have set up that’s currently 2 of 2 so neither of us can do some degenerate shit.
Merry Cryptmas,
Love Father
Interesting on the transaction comparisons.
As a custody provider, I guess we’d need to be in a position to compare costs against our centralised competitors…fire blocks, copper etc…but transactional fees don’t exist there (as far as I know)
Ultimately the benefit of qrdo is dMPC cross chain giving clients the ability to have a ‘one stop shop’ for all their crypto needs…whilst also being able to build directly on the network
The cost point is certainly relevant though especially if we intend to go after mainstream wallet share and heavy defi users…we certainly dont want those folks putt off by cost
In February 2022, there was a $80M Series A round. How many tokens did they get in this round? Do they have vesting?
No tokens on this. This was an equity round.
Proposed by community member Franbuzz on Telegram: Contact @qredonetwork (Community Chat). I just copy paste his proposal and ideas here for them to be available for everyone (I do not agree or disagree with the proposal, I am just posting it for him for everyone to debate and discuss):
With 3 stupid things the tokenology can have a possitive impact.
1 - we have Max supply 1.7 B. If the project has enough funds as you said because of private sales A and don’t need to touch tokens, reduce max supply to 1.5 B at least. ( ideal 1.4 B)
- if you have fixed 1 qredo protocol fees and we have these prices is completely free. Having a 50 M fund for PUBLIC GOODS is nonsense.
We have 1.4 M transactions on one year and you want 50 M tokens to promote free 1 QREDO trx ? With 5M tokens is enough.
Treasury must be reduced from 250 to 150 M. If you have enough funds why you need treasury. On the future of its needed you can vote that fees can go to treasury instead of being burned .
ecosystem fund : I will reduce it to 295 M .
With that you are at a max of 1.4 B. Something decent . You want a round 1.5B go for it and add 100 M to staking fund .
If you ADD 100 M to staking , you can burn also service fees for the first 2 years only when the vesting is made. Then can go to staking rewards again . It’s important to start seeing a good burning to see an horizon of return, if not the sentiment will not change until all the vesting is done. The risk of waiting 2 years is a lot . Price also impacts on your treasury and ecosystem funds . So I believe it’s more important to have 300M of something that costs 0.5 usd for example than 500 of 0.02 usd .
- I believe there is a problem of confidence if the proposals are finally approved by qredo board. Which is the descentralization if you will do finally what you want. That’s the reason that we feel that inflating treasury, ecosystem fund , it’s completely the same of funding team tokens . At the end you will spend /approve only when you want and where you want.
On the other side is a risk at the moment of MC not to have this because if not with 10 M dollars someone can have enough voting power to take all the treasury out . But you are not proposing that will be changed on the future the dao Mode.
3 ) protocol fees that are the key of the deflationary model . We have 2 things that will be kicking the burning .
50 M of transactions that will be spent for free . I know that will be burned after transfer of public goods , but we will not have a real impact of deflation from holders wallets ( circulating supply) for 10 years … or more who knows.
why don’t we adjust as community the protocol fees by voting depending the situation and price of the qredo value . At this point 2 qredo - usd 0.10 is ok . And if we go to 0.03 also 3.
With these we can ensure that going down can help to burn more quickly. But I repeat the public goods allocation of 50 M is insane.
Hey all,
Thank you for your feedback, suggestions, and critiques on the new Qredo Tokenology.
Our team has reviewed your submissions and will be implementing many of them into an updated Tokenology paper. Below is a summary of proposed changes from the community that we will use to update QRDO Tokenology.
| Original Proposal | QPIP-1 | |
|---|---|---|
| Protocol Fees | 1 QRDO | 2 QRDO |
| Treasury Allocation | 250 million | 175 million |
| Token Burn | 160 million | 235 million |
The protocol fee will see an increment from 1 QRDO to 2 QRDO. This fee will be subject to revision on a monthly basis to ensure it aligns with the platform’s operational needs and market dynamics.
Treasury Allocation
The treasury’s token allocation will be reduced from 250 million to 175 million, with the following distribution:
– 125 million tokens to be vested from September 2023.
– 25 million tokens to be vested in monthly installments, commencing from January 2024 and spread over 12 months.
– The remaining 25 million tokens to be vested in monthly installments, starting from January 2025 and spread over 24 months.
Token Burn
To maintain a balanced supply and demand dynamic, 235 million tokens from the unallocated supply will be burned, a significant increase from the previous 160 million.
We will publish a new QRDO Tokenology that reflects these changes and post QPIP-1 here in the forum on Monday, August 14. Voting on QPIP-1 will begin on Wednesday, August 16 and end on Friday, August 18.
For those that have not yet connected to Snapshot, we encourage you to do so prior to Wednesday, August 16 so that you can participate in the QPIP-1 vote.
Thank you once again for your participation! Please register for the vote in advance if you haven’t already.
Great to see!
Double fees = faster road to deflation.
Larger burn = smaller total supply
Please elaborate the treasury allocation again and where those 175m tokens will go and where they will be used/utilised to grow the network
Merry Cryptmas,
Love Father
Great to see the team listening to some pf the suggestions, its been a tough year for token holders but these steps will go along way to help bridge the gap.
So far this goverance is looking great
Great to see the changes in QPIP1 how about the proposal to lock the teams token vesting for over 4 years. This will bring back trust between community and market.
This will highlight the teams commitment to long term vision of the project.