Viction Improvement Proposal (VIP) #1: The Need for Viction Future Initiatives

VIP Proposal
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Hi Viction team, after feedback received from co-investors, here are suggestions on tokenomics to expand on previous suggestions to support a revised VIP #1 with less inflation https://forum.viction.xyz/t/viction-improvement-proposal-vip-1-the-need-for-viction-future-initiatives/2983/3:

  1. due to 100mm token cap currently in place, we would support either a structural change to remove the cap (similar to Ethereum, see last point below), or VIC inflation of additional 11mm tokens allocated as follows:

Item 1) 5m VIC for staking rewards (including master nodes.) With the condition that halving takes place sooner to stretch additional 5mm tokens to 20+yrs and that the current 1mm master node rewards is not increased, in fact we would advocate to decrease sooner. We could not find research to support increasing current master node rewards would increase security; with rewards currently in the 10-15% range this is some of the highest rewards in the blockchain industry and could easily currently come down to the 3-6% similar to Ethereum and Cardarno as example.

Item 2) 6mm to the Ecosystem Development Pool.

This could be broken down as follows:

i) Kindly consider to move the VIC RetroDrops allocation to current staking programs. We’re unable to find research to support VIC RetroDrops as a standalone incentive as it seems to take more from current VIC token holders and give some back to current VIC holders, similar to a TAX that values current VIC at a lesser amount than inflated VIC.

ii) 1mm for the Ecosystem Development Program

iii) 2mm for the Community Acceleration Program

iv) 2mm for R&D and Ecosystem Partnership

v) 1mm for Future Initiatives

These revised proposal of only additional 11mm VIC inflation would extend staking over 20yr’s, and would value VIC much higher than inflation of additional 110mm VIC.

  1. Last, Viction could mirror the Ethereum token supply logic where there is no max ETH token supply. And also implement similar burn mechanism to keep VIC inflation down (as mentioned above in previous comments). This would ensure Viction could last multiple lifetimes instead of a ~16yr time horizon VIC token run out as mentioned in VIP #1. If this similar Ethereum token supply logic upgrade were proposed by Viction, we would fully support Viction and also support an initial VIC increase to 120mm VIC for the Viction team to use +20mm VIC as the team sees fit.

Thanks,
Viction blockchain investor group

(As a note- we see that someone in charge of the Viction twitter account @VictionEco and @VictionFND is blocking Viction community members for stating they do not support the total token increase to 210mm VIC. This is unacceptable to block Viction community that respectfully mention they do not support a proposed idea. Kindly remove the blocks for respectful dissenters.)

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