A Proposal: Node Reward Restructuring
UPDATE: This proposal passed with a very significant margin. This means that at the halving, there will NOT be a reduction of rewards being distributed to the Node Network in the July 2021 halving.
While we do not currently have governance proposals active on the node network, we DO expect that they would be reactivated within the next several weeks. There are MANY proposals that we will be collating and putting forward, but the first proposal we would like to put to the nodes is one which we feel that most node owners will be in favor of. We are officially announcing that this will be the first proposal which will be put to a governance vote.
Currently, as explained in numerous places, the division of the distribution is 25% to the node owners, and 75% to the curatorship of Gala Games for Ecosystem Development, etc. When the next halving occurs, the total amount of GALA distributed per day will be cut in half. This means that if the current schedule is maintained, the amount of GALA which is distributed to the nodes would be reduced from ~8.5m to ~4.25m.
However, we believe that decentralization is extremely important, so we are proposing that on July 21st, rather than maintaining the current ratio, we shift the ratio so that the Node Operator rewards stay the same. If our proposal is accepted by the Node Operators, the total daily distribution would look like this:
This will be the first major distribution change proposal we put to the Gala Games Node Network, and we are excited to see how people respond with their votes. There are going to be other votes on other issues, but this is a major step towards greater decentralization and we expect it to be greeted with enthusiasm.
Let us know what you think! Join our Discord at galagames.chat and give us your feelings on the matter!
