Team proposal - BSC mining rewards discussion

Updates as team started working on BSC integration

  • Smart contracts - :ballot_box_with_check:

  • User interface - :ballot_box_with_check:

  • BSC bridge - working process :clock2: :clock230:

  • Mining rewards - pending discussion :thinking:

Team proposal - BSC mining rewards discussion

The current mining rewards on Ethereum blockchain is 0.2/block for policy mining & 1.8/block for capital mining. When we have the same system on BSC the mining rewards is separate from current Ethereum mining rewards therefore Nsure community will need to decide to have the mining rewards separate from what Ethereum blockchain or to remain the overall reward but share from the 2/block portion.

Note: Current inflation is about 4% per year and total minable portion is 55% from total supply.

Please comment and vote:

  • Extra mining rewards for BSC capital miners
  • Share rewards with BSC capital miners

0 voters

The official DAO vote will be casted on snapshot when the topic is mature in the forum.

I do believe inflation of the project has to be controlled. It is good to incentivized, but that can be done as well appreciating the token. Token price will increase relative to inflation as well.

Not just BSC, even in future until the premium on insurance policies matures, the rewards should be shared across the blockchains to limit inflation at the early stages when demand is not that high.

At least for now my vote is for rewards to be shared b/w BSC and ETH may be in the order of 60/40 or 70/30 for ETH/BSC

@Jeff - What’s the criteria for defining the topic has matured ?

That we have not made a decision yet and would like to take sometime to get more people see the proposal and vote on it in the forum. We can certainly make requirements like 500 views + 50 votes needed or certain views and votes passing a certain number within a period of time.

Yes that can actually be dynamic say we start from 90/10 between Ethereum and Binance smart chain if the capital pool on BSC grows fast and the mining return is 50% less than mining return on Ethereum chain we can propose to move to 85/15. We could make this a second proposal here.

Yep, the dynamic approach sounds good. So, the starting ratio to be 90/10 b/w ETH/BSC or are we going to have another poll for that ?

Yes that would be the correct approach