Forbole, which was founded by @kwunyeung and me in 2017, has had the goal to create decentralized social networks. We then have gradually (and a bit accidentally) become a known validator and the creator of Big Dipper in the community. We have halted the social network project until July 2019 when we built a prototype and earned an award in HackAtom Seoul.
A few months later, we rebranded the project as Desmos with its native token called Desmos Tokens, or DSM.
Balancing between fundraising and decentralization is challenging and interesting. We think our exposure as validator may give some help.
We have considered “stake-drop”: rewarding our delegators with DSM based on some rules (eg. time and duration of delegation, the exchange rate between the staked tokens and DSM).
Two ways to do so
- Creating a new Desmos Validators
We will set it to 100% commission and most (eg. 90%) of it will be taken into account for the stake-drop (eg. 1 Atom net commission will be converted to 60 DSM).
- May not be fair to existing Forbole’s delegators
- May create unwanted competition to smaller validators
- Using the existing Forbole’s Validators
If we use Forbole’s validators, this is easier in terms of operations. We will raise our current commission rates to the upper bound of the industry’s current standard (eg. 20%).
The obvious downside to us is this may negatively affect our current validators’ business.
We would love to hear your feedback! Thank you for your time in advance!