Gala Games Proposes Shift to Daily Emission Model for $GALA Tokens
Joerg Hiller Jul 31, 2024 04:44
Gala Games has introduced a governance proposal to transition from a halving schedule to a daily emission model for $GALA tokens, aiming for stability and predictability.
Gala Games has unveiled a new governance proposal aiming to transition the $GALA token distribution model from a halving schedule to a daily emission system. This proposal is designed to address current inefficiencies and promote a stable and predictable token distribution model, according to Gala News.
Background and Rationale
The existing halving schedule for $GALA tokens has been criticized for causing abrupt changes in token distribution, especially when burn rates fluctuate. These abrupt changes can lead to an inelegant doubling of token emissions and disrupt the economic stability of the ecosystem. The new proposal suggests a smoother emission curve to counter these issues.
Factors affecting burn rates can cause token emission to fluctuate, making the current halving tiers inefficient and unpredictable. A situation where the emission oscillates between two tiers would be suboptimal. The new daily emission model aims to emit 0.25% of the remaining gap between the total supply and the max supply each day, offering a gradual and consistent token release that better suits the current economic realities of the ecosystem.
Implementation Plan
- Terminate the current halving schedule immediately.
- Implement the daily emission model. The emission will be calculated as 0.25% of the remaining gap between the total supply and the max supply.
- Update all documentation to reflect this change following implementation.
Expected Outcomes
Stability: Reducing the market shocks associated with halving events will promote a more stable economic environment.
Predictability: A smoother emission curve provides clearer expectations for node operators and potential investors, aiding in long-term planning and investment strategies.
Governance and Voting
This proposal will be subjected to a governance vote, requiring a majority approval from Founder’s Node operators. The voting period will last for at least one week, ensuring ample time for all operators to participate and voice their opinions.
Voting Period: Voting will be open for a period of 1 week, starting with the announcement of this proposal.
Eligibility: All Founder’s Node operators (1 vote per Founder’s Node)
Majority Requirement: A simple majority of 51% will be required to pass this proposal.
Vote Question
Should the $GALA dynamic halving schedule transition to a system in which 0.25% of the difference between Total Supply and Max Supply is emitted daily?
Yes: I am in favor of this emission update for more stable and predictable token emissions.
No: I am not in favor of this update and have voted that emissions should remain with the dynamic halving tier-based system.
Transitioning to a daily emission model at 0.25% of the remaining gap between the total supply and the max supply represents the strategic adaptation and evolution of the Gala Games ecosystem. Stakeholders are encouraged to consider this proposal carefully.
Proposed by: Jason Brink / BitBender, LFG Incorporated
Image source: Shutterstock