As a community backed Validator we feel it is only fair to ask for token holders views and permission before making any changes to the structure of the token.
Proposal
Remove Voucher rewards for Sps rewards.
Overview
We have been paying vouchers as dividends since launch of the token. Voucher rewards were never part of the plan and were never mentioned as part of the token. This was a pleasant surprise and we decided to give all of these rewards in 2 forms to the token holders.
1 Dividends
2 Buybacks off market.
The team didn't take anything from the Voucher rewards and all were given back to the community.
Sps Rewards were the basis on which the tokens were sold and licences were bought.
Sps rewards have started so now all token holders will be receiving Sps rewards.
Unlike Voucher rewards which are liquid Sps are staked therefore we need to powerdown this happens once a week over 4 weeks.
Proposal
We propose to sell all Vouchers received and then reinvest in the following ways.
50% of funds will be used to buy Sps for additional dividends
50% will be used to buyback tokens off the market.
Reasons
Vouchers have no real relevance to what we want to achieve. We want to be one of the leading nodes and therefore we need as many Sps based votes as possible. Giving out Sps dividends we hope majority of token holders will stake Sps and then subsequently vote for us.
The additional funds for buybacks should see a significant rise in price of SCV.
Burning tokens means not only a rise in price of the token but also dividends increase per token due to there being less tokens in circulation.
Final Thoughts
We have done everything so far in the best interest of the token and token holders.
The token is currently trading 3x more than launch.
It has never come close to the original launch price.
There is liquidity provided for anyone to exit at anytime.
Dividends paid out so far have already provided excellent returns.
Our intention is to make this one of, if not the best token on hive-engine, so everything we do is based on that motivation.
How to vote
1 leave a comment below Yes or No(feedback welcome)
2 vote in discord
