Definitely.
I feel the emissions situation is a huge missed opportunity. It’s currently funding something unnecessary while devs are starved of the funds they need to develop apps, which the success of the network is dependent on.
At this stage:
The Network NEEDS devs.
The Network doesn’t need millions of nodes.
The Network is paying for millions of nodes.
The Network is not paying devs.
This under-resourcing of devs will mean devs won’t be as focused, and apps won’t be as good as they could be. Some passionate devs are already getting exasperated by the situation.
Suggestion: Use some emissions to support devs
Apparently significant portions of the tokens emitted to node runners is currently being sold off, to the effect of around $20k / month, representing a big portion of the emitted ANT.
If some of these emissions were supporting devs rather than node operators, it’d be far more beneficial to the Autonomi ecosystem & help devs get quality apps together.
If node rewards were reduced to 25% of current levels, with 75% going to community devs, I expect this would encourage and support their work, while reducing the incentive for excessive node numbers being run. It may also help attract new devs to work on apps.
IF is great, but it doesn’t let the devs shift focus to their Autonomi focused work in the way real financial support could.
Proposal to fund devs from emissions: (feel free to create your own proposal - throw things around a bit to get something that would be optimal / could work):
- 25% of emissions go to node operators
- 75% of emissions are distributed to community devs
How to distribute dev rewards?
Option 1) Foundation allocates a portion of the 75% to each active community dev (IF or otherwise) who has delivered and is continuing work on apps for Autonomi. Limit to e.g. top 30 projects based on active development and delivered apps / progress.
Option 2) Node operators receive 25% ANT as emissions, and 75% ‘ANTDEV’ voting tokens. These are used to vote for allocations to devs, a bit like how IF voting. Each month, devs receive a portion of the 75% of emissions based on their portion of ‘ANTDEV’ votes received that month.
Option 3) Just pay it out to IF finalists, either equally, or based on percentage of ‘backing’ achieved. Hopefully these finalists would share some of their earnings with any dependencies their app relies on (e.g. dweb / anttp).
I proposed supporting devs with emissions previously, arguing it’s economically wasteful to fund unnecessary nodes, but this was ignored.
Now that it’s clear some big players with serious equipment at their disposal are dumping the majority of ANT that comes onto the market with close to zero ecosystem benefit delivered, would the team reconsider using ANT tokenomics to do something more productive, at least for a time?
What do people think? Would supporting devs be a better use for emissions? Even if for a set time, e.g. 1 year?
If people like the idea, let’s get a workable proposal and see if the team might consider something like it.