Agreed with @khaihkd - kindly enable voting via VIC staking to vote against this Saigon proposal that inflates VIC token supply. Kindly confirm how all VIC token holders can vote. We would advise all to vote against this Saigon inflation proposal, unless it is revised. Here are some comments and suggested revisions at the end of our feedback:
For Item 1, Item 2, Item 3, Item 4:
For Item 1 & Item 2 we don’t agree with inflating the VIC token supply to 210mm VIC and increasing the yearly inflation. Current Saigon proposes a lot of inflation, and will cause unnecessary dilution to current VIC holders.
For Item 3 we don’t agree with allocating new 80mm VIC from the Saigon proposal inflated pool of 210mm VIC to the Ecosystem Development Team.
For Item 4 we don’t agree with a new $10mm Viction Ecosystem Fund.
Here are possible new solutions to address Items 1, 2, 3, 4- the core team could:
1a. Viction team buy VIC tokens from the open market and stake via VicMaster, VicPool, LiquidStaking for rewards.
2a. Viction implement a network upgrade per transaction coin burn to make VIC disinflationary (similar to Ethereum’s EIP-1559), and
3a. Viction implement a network upgrade per transaction fee allocation to the Ecosystem Development Pool. (The current POSV consensus of 10% staking rewards to the Ecosystem Development Pool every Epoch should remain unchanged - ty @MasternodeOwner88 for mentioning this in your comment.)
Use the rewards from 1a & 3a to fund development, not a new different fund.
These new proposals 1a, 2a, 3a, would address the teams funding needs and not dilute the ecosystem.
Last, we would propose a more complex solution:
Merging VIC token and C98 token so that only one token manages the Viction ecosystem with C98 total token supply remaining. As example give each VIC token holder (including Masternode operators & stakers, VicPool operators & stakers, and Liquid Staking sVIC holders) two C98 tokens.
Thank you,
Viction blockchain investor group