Addition to the CENTUS Seigniorage Rate Calculation Options Based on Voting Results
As a result of monitoring the ongoing voting for seigniorage rate and analysis carried out, we are proposing to add the following to current median calculation algorithm based on average values of CENTUS and DBC medians:
1. To include the CENTUS and DBC assets ownership criterion in calculation taking it into account at the rate of 1 COIN = 1 VOTE. In other words, the more coins you have, the more weight your vote gets.
2. After the counting of votes, to accrue BONUS in the minimal amount to those participants who votes with only one of two voting assets. Subsequently, it is necessary to develop a transparent reward algorithm, possibly depending on the number of coins or based on median forecasting.
3. To calculate the resulting seigniorage rate based on rates that fell into the range between weighted 25th and 75th percentile according to the voting results.
– To reward people whose desired rates fell into the range from 25th to 75th percentile with a given amount of BONUS (perhaps the closer to the median, the higher the reward). Winners receive an increased BONUS. This award encourages people to vote, and furthermore, to vote by consensus.
– For understating or raising economically viable seigniorage rates, not to assess BONUS to those people whose desired rates fell outside the range from 25th to 75th percentile.
By weighting votes according to coin ownership, choosing an algorithm based on median calculation, and incorporating a consensus-based reward mechanism, the scheme protects itself from unfair participants to a large extent, unless anyone of them owns more than 50% of the voting coin base.
Thus, the rate will be calculated based on 4 values:
Using the first vote EXAMPLE, it would look like this:
2.5% — based on median CENTUS votes
2.5% — based on median DBC votes
2.5% — based on majority of votes: 2,732,171 DBC = 61.00%
2% — based on majority of votes: 156.325 CENTUS = 62.21%
(2.5 + 2.5 + 2.5 + 2) / 4 = 2.375%