Proposal “Increase-scarcity-to-increase-value“ (Active)Back
| Title: | Increase scarcity to increase value |
| Owner: | forro68 |
| One-time payment: | 1 DASH (24 USD) |
| Completed payments: | no payments occurred yet (1 month remaining) |
| Payment start/end: | 2025-03-08 / 2025-04-07 (added on 2025-02-22) |
| Final voting deadline: | in 25 days |
| Votes: | 25 Yes / 281 No / 106 Abstain |
| Will be funded: | No. This proposal needs additional 582 Yes votes to become funded. |
| External information: | dashcentral.org/p/Increase-scarcity-to-increase-value |
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Proposal description
Dash is a great crypto, but it simply cannot hold it's value, and as a result, people don't hold it, and it has fallen down the ranks from the top 10 to now around 155. The only real holders left are the masternode owners.
A full 20% of all mined dash are handed out and dumped on the market every month. That's just too much for the market to bear, it supresses the price, and so the price is in steady long-term decline, in both fiat and compared to Bitcoin.
This must change. We have spent millions of dollars over the years on marketing and development, and none of it has stopped it's slide down the rankings, because the tokenomics are bad. We must increase scarcity to increase the value, so that people are willing to hold and save in Dash. Dash truly can serve the world if we fix the tokenomics.
This proposal will return the treasury from the current 20% of all mined dash each month back to it's original 10%, and distribute the other 10% to the masternodes. As a result, the return on investment for masternodes will increase, making masternodes a more attractive investment. More dash will be locked up in masternodes, increasing scarcity, and the price of dash will stop falling and rise.
Soon, the reduction in the treasury will be more than compensated for by the rise in fiat value.
Join me and support this common sense proposal to stop the neverending slide of dash's value, and help to bring it back to the top 10, where it belongs, as a veteran dino coin with extremely solid fundamentals, to the benefit of all people.
To Sam, Joel, and the rest of the treasury recipients: You know what I say is true. It seems you already hold masternodes, so please stop taking advantage of the system, stop being greedy and support this proposal so Dash can rise in the ranks. This is a time for openness, honesty, and common sense. Support it, voice your support, and let's turn the page on this current chapter of greedy, corrupt, selfish, bad tokenomics.
If it passes, all currently-funded proposals will simply be reduced by half, in order to transition to 10%.
A full 20% of all mined dash are handed out and dumped on the market every month. That's just too much for the market to bear, it supresses the price, and so the price is in steady long-term decline, in both fiat and compared to Bitcoin.
This must change. We have spent millions of dollars over the years on marketing and development, and none of it has stopped it's slide down the rankings, because the tokenomics are bad. We must increase scarcity to increase the value, so that people are willing to hold and save in Dash. Dash truly can serve the world if we fix the tokenomics.
This proposal will return the treasury from the current 20% of all mined dash each month back to it's original 10%, and distribute the other 10% to the masternodes. As a result, the return on investment for masternodes will increase, making masternodes a more attractive investment. More dash will be locked up in masternodes, increasing scarcity, and the price of dash will stop falling and rise.
Soon, the reduction in the treasury will be more than compensated for by the rise in fiat value.
Join me and support this common sense proposal to stop the neverending slide of dash's value, and help to bring it back to the top 10, where it belongs, as a veteran dino coin with extremely solid fundamentals, to the benefit of all people.
To Sam, Joel, and the rest of the treasury recipients: You know what I say is true. It seems you already hold masternodes, so please stop taking advantage of the system, stop being greedy and support this proposal so Dash can rise in the ranks. This is a time for openness, honesty, and common sense. Support it, voice your support, and let's turn the page on this current chapter of greedy, corrupt, selfish, bad tokenomics.
If it passes, all currently-funded proposals will simply be reduced by half, in order to transition to 10%.
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Discussion: Should we fund this proposal?
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Solarguy
I do however agree with the problem of MNO's controlling the treasury solely, an expansion of governance to include factors like wallet age, coin turnaover and fees paid as ways to calculate a vote weight would help to give USERS of dash a vote, who are arguably more important than masternode owners AND miners.
Either way, its good that people here are continuing to have these discussions some 5 years later, perhaps its time for the naysayers to really go about presenting fully fleshed out alternatives to the systems they have problems with.
This 'conversation' has raged on for too long at this point without a suitable, dynamic and regularly updated and improved alternative being shared and referred to.
Finally to end on a positive, I really appreciate the energy behind this proposal and I think it does ask some good questions, its just a little too light in alternatives for me.
Reduce the spending. Give more to the masternodes to attract more investors. This will lock up more dash and the price will rise!
Thing WILL continue to worsen regardless of new features and marketing until we fix the tokenomics.
You have no idea what you're talking about. Go outside and take a reality check, these people are not your slaves, shame on you for treating them so badly and being so ignorant.
Given that dash governance is simply managed by super majority of masternodes, which in turn simply means "deeper pockets than others".. and given there is only one dashd in existence to manage governance, which is the sole product of DCG... and given there is no PoW to obtain such control, then yes, I say people should be cautious of dash governance without any evidence to the contrary.
Do you understand the logical and legal implications of a "decentralized" project that has a single entity behaving as a coordinator?
Are there any other decentralized projects with 150 operational validators that are able to unanimously agree changes to a product that is window dressed as a "protocol"? - oh hmm, thorchain comes to mind. Sorry, did you say you can prove otherwise?
> review his quotes when he (QE) instructed his workers to write code to obfuscate voting to hide from analysis..
This is a recurring request from MNOs that don't want their votes surveilled. Services like MNOwatch and others we don't know about show how easy this is, but also, to your second point of centralization. It is also, services like MNOwatch that show us how deeply decentralized the network really is and how divided it is on some topics. The last two cycles really demonstrated that with some tight voting outcomes. You should really study MNOwatch and in particular frequently check the leaderboard (analysis) page to see the flow of votes.
Where I would agree with you is that DCG, (Sam) has a strong influence on MNOs able to sway their votes with a simple word or two. This was demonstrated as well recently with AJ's proposal, where some members of DCG expressed concerns over his approach and ability to deliver. There was also another case concerning another PO. This could be addressed with formalizing a social conduct for DCG staff members, but may not be necessary in the end as in general POs who mess with other POs usually eventually get back lash from the MNOs.
It is interesting that your concerns with DCG ultimately boil down to control of the DAO and whether the DAO is decentralized enough to resist it. So, at least we agree their actual work, that which we pay them for is mostly good.
https://mnowatch.org/leaderboard/analysis/
The main home page of the site cross references whale moves on the leaderboard, denoting on the right hand side and there is a report for the differences between reports to help identify clusters. Apart from that, MNOwatch report groups of nodes that cast votes in the same way, and we keep a list of 'known to us' whales on the /types page where you can peruse their nodes as a set.
If you believe there is a conspiracy afoot to rob the network, and you believe a super majority of MNs now have full control of the network (ie you think the network is centralized), then why would you even be here?
If you believe that sitting in **open source code** is some kind of "back door" to manage votes that no person has discovered after many years in existence... I mean that isn't a super strong argument that the only tool to manage the votes was created by DCG. It's open source. Surely after nearly 10 years, someone would have discovered the malicious code, right? Trying to inject fear, uncertainty and doubt about whether the governance mechanisms are sound when the software is completely transparent just doesn't hold water logically. Show us the malicious code, then, if you think it exists.
It would be a little naive to suggest that Sam and his employees offer no direction or influence of the code. It is in their interest to maintain an instance that pays them every month. And if DCG choose to accept or reject modifications to "the protocol" to stop distributing rewards to masternodes unless their approved fork is used.. then I say that is not just centralization, it is corrupt. This was entirely evident, for example, when Dash Incubator wanted to build SDKs outside of rust.
I am not saying there is a direct code exploit to governance but rather the possibility that an accumulation of rewards is feeding a very small group of individuals whom are loosely conspiring to enrich themselves at the expense of others.
Why am I here? - good question, if only I knew! But I don't really have much to lose. But If - and that's a really big IF - DCG pull off this heist, then they are taking me with them, much to their bitterness. They must accept the thorn in their side.
Honestly, it's a shame it has come to this. In the early days I was extremely bullish on crypto governance and dash in particular but now I see just how difficult it is to execute without corruption seeping in. Imo the dash masternode network must choose between voting and rewards, principles vs greed. Individuals should not consume both sides at the same time. Additionally, governance should be moved to a second PoW algo, again, with the eXclusive OR of voting vs gain but not both.
The second issue is that I'm not sure knowledge of the increased MNO rewards would circulate to a substantial degree outside the existing Dash ecosystem, and thus would not attract a substantial amount of new capital. So I'm not sure how much price impact it would have.
I also find it offputting to characterize paid contributors as greedy. Most paid contributors in the Dash ecosystem could earn substantially more elsewhere with much more stability. They are here because they are passionate about Dash. The specific names you mention have been with Dash through the good and bad years both. They are certainly not fair-weather friends here to make a quick buck off the network. Whether those people also choose to be MNOs is a whole separate decision, and frankly is none of our business, but if they are that means their interests are even more aligned with other MNOs than if they weren't.
In short, this feels like a gamble... stake our future treasury on a one-time price benefit which is difficult to quantify and likely wouldn't be significant.
Locking up such a large amount of money in an asset that is always, long-term, losing it's value is a bad idea. With this reduction in spending, month after month, forever, the ROI of masternodes will be higher. More masternodes will be stood up. The value will stop falling and stabilize. Once the market sees that, the public will soon return.
Masternodes are an amazing investment, assuming the value of the asset is stable or rises. Since it's in a long-term decline, which will not change until we change the tokenomics, masternodes are actually a bad investment, since that money could be deployed elsewhere, such as stocks and other cryptos. The lost opportunity cost of holding a masternode has been substantial.
We must fix the tokenomics, or the slide will continue, regardless of features and marketing. This will be good for dash. Our current strategy has failed us and will continue to fail us. It's time to reign in spending so the asset value stabilizes then rises.