Whoever is the whale [my guess is it can only be the dev] that likes to drastically manipulate or throttle up the inflation periodically should really lay off (or at least moderate / use the "reserve balance" when) staking their hoard.Over the course of the past month, I've seen two occasions when the net-stake-weight jumps from the usual 1000 to 2000 or so to
as high as 60 or 70-thousand -- he or she seems to have been at it again today.
Specifically, it can be seen in those wretched orange spikes at the block explorer's inflation chart:
https://chainz.cryptoid.info/woke/#@inflation .
For instance, from this chart's timestamp of 7:26:12 today the coin supply was 103,774 WOKE and then at 17:51:12 it was 103,885 ... that is, 111 new WOKE were generated in 10.5 hours time. When he or she isn't putting the pedal to the floor on the WOKE machine it has been otherwise increasing the WOKE-supply by approximately two per day. Presumably the whale/dev can do this at the slightest whim and every other holder of the chain is subject to... for example... 462% inflation at the peak today (obviously this is a disincentive to everyone but the whale/dev -- unless he then turns and dumps the new largesse on the market to distribute it [artificially goosing the volume and generating income for the whale/dev but further diminishing the scarcity which would be a positive feature]).
One of the things this chain has going for it is it's presumably like a staking Unobtanium;
that is, a low-numbered coin However, WOKE theoretically will not find its footing and generate any kind of
sustainable trading volume if is perceptible as only a cash-cow for the dev.
I recognize that he was probably concerned because there was the low trade-volume warning at the exchange... or maybe he needed some spare cash or something but there's also the potential for exit-scam risk or the dev dreaming of a lambo and
taking it out on all other holders through massive inflation (Zimbabwe, Weimar-republic or Venezuela-style].
Just for comparison and for the dev to see the holder's perspective: typically, a few hundred WOKE can earn one between roughly 0.15 and 0.25 WOKE per day when the net-stake-weight is roughly 2000 (and basically nothing when the weight is off the charts). The only recourse the holder has is to dump or not push the price up (because of the manipulation-via-inflation risk).
Thank you for your concern and the information. I will have a bit of a meeting with some of the team/community and see if we can come up with a solution for this. As you may or may not know the way that coinage works on WOKE this is although a possibly annoying function of the coin is something that may occur at times in the near future. With us still in the distribution phase some members of the dev team still hold considerable amounts of coins. Something that can happen as we try to increase the number of blocks generated per day while our user count is low would thus cause the type of inflation you see momentarily. It could also be caused by people coming back from vacation and kicking back on the computer after a long hiatus. We are still working on how to best distribute these funds without having rash affects on the market or them getting into the hands of greedy Indians and continue to personally contact people we feel have a level of knowledge that we admire whom we subsequently airdorp coins to. To clarify your position on the large spikes of inflation, whether that whale was to stake everyday and keep it smooth for all holders or stake periodically the yearly inflation rate if all 100K coins are being staked would be roughly the same.
This is a short term thing that we are aware of and is not purposefully used to create high inflation although I can understand the frustration but rather it is done by members of the community and myself to ensure the blockchain has a average block-time that we is considered acceptable and smooth for users who do try to move/sell/buy coins, having one block an hour would not be good for anything. As time goes on this will begin to happen less and less as the dev teams holdings slowly decrease to a size in which they can not in any way sway the chain. We have already made considerable progress on this front but have yet to get where we see as acceptable.
The dynamics for a coin that is premined then airdropped with no PoW Mining or ICO is vastly different from what most in crypto are used too and because of this likely looks strange to many in the industry. This is the reason we decided to take things so slowly with woke as we want it to be sustainable and long-term. I have made mistakes before in crypto and learned from them using that knowledge to try and do things correctly this time. As this is something i do for fun while trading and living my own personal life it can take time to get this coin where many others are already at. If you have any other questions or concerns do not hesitate to let me know and I will gladly answer them for you.
I would also like to note that exchanges have also been a difficulty for us as we refuse to wash trade or pump fake volume/pay listing fees that would make WOKE look like a corporation in which it is not. We will continue to navigate this arena and do what we can where we can when we can as a community but until our slow growth hits certain levels of achievement only so much can be done by me personally to progress us on some of these fronts without it looking shady.
Thanks, KingN.
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