They are already rewarded by having the opportunity to buy SFT for a cheap ass price. There shouldn’t be any other kind of reward. One SFT of a newbie must be worth the same as one SFT of an old whale veteran.
In fact, 100k SFT will only be achievable for a total number of ten thousand people on earth when looking at the current supply.
I stand by my point. A minimum of required SFT to colllect fees should only introduced to a point as technically needed but not as a tool to bring a minimum barrier for new investors.
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As much as I’d like it to be a higher amount to lock in (so there would be more rewards for higher token holders) I think it should be the opposite. Simply because the economic foundation of most of the world especially the United States is that way already. The rich and upper ultra wealthy like bankers continue to take it all for themselves. We need to break the mold. I think with the advent of decentralization we need to bring as much opportunity to everyone we can. Spread the wealth.
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I agree with this. Good post 
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Starting out with set min makes alot of sense to me after reading Dans comments and Ivana posts on twitter. Having a barrier to entry in beginning will be better for long term success of the SFT.
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Because of necessity to ensure blockchain success, stability, and usability
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Prevent a bunch of ghost wallets being created in the early stages
-I’m sure many more reasons than these 2…
The goal however should be to have no minimum at all. Have some plan in place to lower min over time to one day allow any holder of SFT, regardless of quantity, to participate in the rewards of Safex Marketplace. If this is possible to achieve I believe that would be awesome for many many reasons.
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I’ve seen suggestions that rewards get paid out every X number of blocks etc and guess this would be the biggest problem associated with many small (or ghost) wallets. In this regard I can see the of value staking pools for preventing thousands of tiny transactions.
But isn’t it an option to just add a function to the node software whereby you can check how much SFX you would receive if you chose to cash it out? (much like how ethereum allows for state checking without having to make a transaction).
So you would still always know how much SFX you have accrued but you only add burden to the network when you really need to.
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This suggestion was denied, a regular automatic payout to all locked in addresses would make the number of tx go too high probably - there would be hundred thousands of tx in the single payout block. Also, the privacy of the transaction will be higher when the payout occurs during the unlock transaction of the holder - I cannot explain this properly but so it was said by the devs.
This sounds interesting.
It can be indirectly calculated so making a specific function is easy.
On a side note, how do other projects with staking accomplish this? I own a coin that gives staking dividends every 5 mins to all the holders, and they seem to be able to process the tx. I guess this is the downside of a POW coin, the scalability is more difficult to achieve.
Proof of stake coins leads to centralisation of the supply, so it’s not sustainable on the long term. Also proof of work coins that give the biggest block reward on the first days leads to the same outcome but faster.
It not a huge scaling problem it’s about to find the most efficient way.
It’s hard to factor in today’s prices, you have old whales dumping trying to discredit the project. It isn’t the real price.
My personal expectations is a minimum 200m$ valuation on sft: which with 1.4b migrated which is about 0.15$
So 10k coins costs 1,500$
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