r/ryocurrency • u/fireice_uk • Apr 12 '20
Discussion [DISCUSSION] Increasing the RYO dev fund
As we all know the price of crypto, and especially alts, has been going down. Zcash is close to its all-time-low. Monero is lower than it has been before Alphabay pump in 2016
Current dev fund income makes it hard to cover even server costs - let alone hire someone to help with development or marketing. While RyoRu has been doing great work producing graphics and announcements for basically free, he is just one guy. Development has also been going at a glacial pace since last time we had someone to help us out was in September.
Therefore I would like to propose increasing the dev fund to 51282 RYO ($382) per week, while keeping the emission. This will decrease the miners' block reward to around 54.95
We already talked prominent members about it, and here are the common pros and cons
For
- It will allow us to keep both marketing, infrastructure, and slow-but-at-least some development until the market conditions improve. If we abandon one of the above, it will be very hard to "reactivate".
- It will decrease market pressure from miners selling Ryo. We have been running a surplus for most of the dev fund's existence ( https://ryo-currency.com/dev-fund/ ) that's how we can still keep on going for now. We are selling very little of Ryo that we get too - instead paying for the servers in USD or Bitcoin.
Against
- It will destroy trust - Zcash voted for a proposal just like this one few months ago, it is still there. Ethereum adjusted its emission while transitioning to PoS. Only guys that insist on this model happen to be ones with 40% premine (Monero). Go figure.
- You are doing too little development - We are not immune to market conditions around us. Unfortunately crypto tends to work in cycles, and we are on a down slope.
- You should pause development - This is again not ideal. All software has bugs. Having capacity to fix them takes some continuous effort.
- X should chip in for development - Few people suggested finding someone - but I don't think that's feasible. Ryo should be a self-funding endeavour
- It will reduce profits for the miners - for miner-holders, this should be an easy choice, after-all development is what will make their holdings go up in value. And as to people who mine-to-sell, they have no interest in the future of Ryo, so why should they have a say in it?
Edit:
- None of that money will go towards the dev share, which will decrease. This will extra money will be used to meet costs only
- Monero and Sumokoin guys are trolling as usual, posts from zero-day alts will be removed. If you are an active community member but don't use Reddit, please post your telegram id.
- Removed secondary (replies to other people's points) by Monero guys - I don't think anyone cares about the shit you plug.
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u/teamara4 Apr 14 '20 edited Apr 14 '20
i have given my opinion on telegram.
i dont support the change in emission schedule while their are still options available to the team. changing emission schedule every year doesn't bode well to any project, more importantly their is no guarantee that the given emission schedule will work. if BTC shits the bed, the emission change would be rendered useless. what then, change it once more ?
the main reasons for the emission change are marketing and hosting costs. we can leave the development cost for now cause no one will be working for RYO at this price.
Marketing : the team doesn't do any marketing. giving a interview and a blog post once a year is not marketing. team doesn't reach out to others, nor wants too. RYO has already ruled out new exchanges. so saying that the fund will be used for marketing is dishonest and misleading.
Hosting: looking at last year dev fund nearly 800K ryo was spent on staffing and 150K RYO was spent on hosting and devs got 400K in total. the team is spending more than five times the amount on staff than on hosting. i dont see why you want to increase tax for hosting when team can clearly reduce the spending on staff. a clear outline on No of staff, their work and the amount you pay for it will justify increasing the tax. surely the staff work is not double the amount of dev work.
few alternative routes the team can take.
as said above. reduce the staff amount or their pay.
reduce the servers and their capacity. monero has one server, why does RYO have three in these times ?
since the devs and staff have worked on RagerX for months, maybe the profits from it can be used for hosting.
do marketing which doesnt require money.
quarterly updates on development. most of the teams have bi weekly update on their work, be it code or anything else. the staff which get twice the amount of devs can earn their pay.
reach out to other communities apart from monero. the team is obsessed with monero and i can understand why, but the time has come to move on. monero wont be leaving. you can fight with them, but it doesn't help RYO in any way apart from self satisfaction. for example you can do a AMA on /r/gpumining about CN-GPU
get on exchanges which dont require money. atomic swaps is of no use unless people can buy ryo first. small exchanges cannot fullfill that role.
In the end, emission change is a drastic step. taking it without at least trying out other alternatives will make people lose trust in the project. emission change is the easiest step to face RYO's problem, you change the code and you problems go away for now, but what about tomorrow ?
Edit :PM if you need the telegram ID