During my one-year experience as active QKC miner, staker and private pool owner I would like to share my opinion about current QKC coin economics and miner/staker difficulties. In my opinion part of QKC DEV team should be constantly working on improvement of user experience.
Current QKC supply is ~6B QKC (not counting mined coins). From my experience as miner QKC total ability to lock coins can be calculated as following (total lockability is not a fixed number but rather a function of QKC/ETH price, expected ROI of holders and miner willingness to find all POSW blocks).
Chain 1 4.5 M x 1.5 = 6.75 M
Chain 2 9 M x 1.5 = 13.5 M
Chain 3 18 M x 1.5 = 27 M
Chain 4 36 M x 1.5 = 54 M
Chain 5 72 M x 1.5 = 108 M
Chain 6 9 M x 1.5 = 13.5 M
Chain 7 36 M x 1.5 = 54 M
ROOT 4.5 M x 1.5 = 675 M
¬¬¬¬¬¬SUM 951.75 M (~1B QKC)
Looking at successful (pure) POS coins on the market, where ROI is usually less than 10% per year, amount of locked coins is usually more than 50-60% of current supply. This is reducing circulation supply and pressure on coin price while holders earn interest rate for supporting the project by buying and holding coins. Considering theoretical lockability of QKC of 1B and current supply of 6B we are coming to conclusion that only 16.6% of QKC can be successfully locked on chains. I would strongly advice that team burns part of coins every quarter (something like BNB coin burn) and even part of team funds which will be unlocked. This will create positive momentum in QKC current and future community.
- Ensure user friendly staking experience –
User friendly staking experience can be created with several steps:
staking contracts which are already available on side chains. Disclaimer from qPool (picture below is not helping with growing up staking users). Team should stand behind their product either by having 3rd party security audits of contract of having some kind of contract insurance.
Staking application available at qPocket DApp store. User will be able to to send their stakes to various staking contracts, check their staking balance (with dividens) and send withdrawal request to contract owner (miner) with only few clicks. I think this is already in production.
Create contract marketplace for heathy competition and true decentralization. One contract would be one ‘’staking pool’’. Contract could be registered trough team and deployed by team to avoid malicious users. On marketplace contract could have following details:
a. Real ROI on 5 and 30days time frame
b. Time of creation of contract. Old and stable pools should be preferable
c. Current/Maximum stake on pool
d. Minimal stake per user
e. Other ideas?
Allow ROOT chain mining with staking contract similar (same) like on side chains. Possibility to combine two 440K QKC stakers into one root chain POSW block. Other solutions possible like delegated POSW? It would be crucial to find secure and easy solution to this problem. Each contract (miner) will be forced to run own QKC node creating bigger network.
I would like to point out that part of QKC DEV team should be constantly working on improvement of holder/staker experience as it will create positive momentum on the project and healthy growth of community.
Other possible and easier solution would be to allow exchanges like Binance, Kucoin and others to run their own staking pools but this will lead to pure centralization as there would be only maximum 3 big pools on root chain.
More to come…