Hi @adm and thanks for the feedback !
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I agree that this makes sense from the standpoint of stakers, less so from the standpoint of non-stakers (eg. users) from whom value is extracted. For the success of the blockchain, we need both of those groups to be happy. It’s a delicate balance that is hard to estimate, which is why we want to subject it to community vote. That being said, your argument of Massa being attractive due to its high staking APY is completely valid.
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The fact that the initial distribution is released progressively over years instead of having been fully released at launch was a requirement to avoid the risk of instant death of the project at launch. The effects on price of a given group deciding to sell (assuming they do) tends to depend on the price at which that specific group acquired the tokens. The net effect of sales on price is hopefully compensated by the influx of new users buying to use the services being released (or to speculate). This topic focuses on addressing one particular source of price leak, but of course there might be others, so feel free to open a dedicated topic on any particular one you want to address.
I would also like to point you towards two other topics to get your feedback:
- https://forum.massa.community/t/dynamic-inflation - longer term, when usage increases, inflation might not be necessary anymore. That proposal ensures that staker compensation increases with usage, while reducing/eliminating inflation
- https://forum.massa.community/t/wdyt-service-providers - an alternative source of income for node runners that does not depend on inflation