Title: Proposal to change the Claiming Criteria of the Vested HFTs from NFT rewards
Related Discussions: https://gov.hashflow.com/t/draft-stop-vesting-hft-to-nft-holders-who-dumped-most-of-their-hft/
Submission Date: November 27th 2022
Simple Summary: Lowering the vesting Period of NFT rewards from 1 year to 3 months & the Criteria of holding a percentages of Total HFT Claimed in order to Claim the Vested NFT Rewards.
Abstract: Vesting the remaining tokens from NFT rewards during a 365 days is a long period even for true hashgangs, so First by lowering the period to 90days, we allow hashgangs to get their tokens faster but in order to reduce the fluctuations, users need to hold maximum 40% of their total HFT claimed allocation. with this criteria we allow HFT price to survive in short term and bear market, and also will allow new investor to come after.by need of holding 40% of total claimed HFT ,we disincentives instant sells from whale accounts who owns majority of the vested HFTs from NFT rewards.(top 10 NFT holders accounts own almost 1% of the supply)
Motivation: lowering the vesting period. also This proposal Aligned with other two proposals to Help maintain the Decentralization of Voting power On hashflow, smoothing out the Fluctuations and allow to recover HFT price in medium/long term.
[Implemented] Change trading rewards structure, make rewards more predictable - #11
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Specification & Rationale: Fluctuations are normal in every project’s token in Crypto Currency Market But tokenomics plays an important role in this. Economic Growth Should be in balanced with the Inflation rate in order to have a healthy and normal fluctuations in a token. basically declining a project token’s price does not reflect failures but it affects the atmosphere of the community and investors, especially Retails. By implementing proposed Changes we Allow Smoother Fluctuations in HFT price and Will dilute easier the remaining Vested Tokens in next 3 months. also when we are near the 90th day, by introducing Hashverse and other features mentioned in the roadmap, we will have bigger ecosystem, more functional DEX which result in higher valuations of the whole project and now it is ready to absorb the final day of heavy inflation with minimum impact in the price.
here is an example on how exactly is the suggested solution is going to work.
so let’s say I have 100K from NFT rewards. claimed 30K at TGE with the remaining vested of 70K. Whenever vesting begins each day I am able to claim ~777 tokens, so the initial HFT needed for claiming my 777tokens is 40% of 30K of my claimed HFT which is 12K worth of HFTs.
-for the Second day the calculation is like this : claimed 30777 on first day *40% = 12310 HFT needed
-for the 20th day the calculation is: the amount of claimed tokens + available to claim until day 20 is 45540HFT * 40% = 18216 HFT needed.
also in order to smoother the diluting of HFTs and less amount of HFT needed at the second and third months, a 5% decrease each 30days in HFT holding needed for claiming is suggested to apply, explained as below:
- First month of vesting : 40% worth of HFT needed
- Second month of vesting : 35% worth of HFT needed
- Third month of vesting : 30% worth of HFT needed
so the calculation for day 40 is : the amount of claimed tokens + available to claim until day 40 is : 61080 * 35% = 21378 HFT needed.
and the calculation for day 80 is : the amount of claimed tokens + available to claim until day 80 is : 92160 * 30% = 27648 HFT needed.
-Releasing Vested HFT tokens in less amount of time needed,from 365days to 90days.
-by releasing Vested tokens faster than the Original scenario, we will allow new Investor to Come in after and do not worry about a contentious Sell pressure.
-Passing some bear Market days and allow the HFT price to Recover.
-Help to take effect on the two mentioned proposals on lowering the emissions and decentralization of voting power.
Downside (Cons): a little bit Fluctuation on HFT price on the last day of Vesting
Voting: a “yes” means Changes the Current distribution as explained above and “no” vote means No changes.