I like the paying interest concept... I've seen it and a few other cryptos and I truly believe this could be one of the things we can give avg. people to help them A) get involve with Crypto and B) replace a function of traditional banking..
I have decided to mine this coin a little and play around with it.. I haven't dug into the code at all so I may be talking out of turn however Im seeing a few things that I felt worth bringing attention to..
First thing I just need to clear this up a little.. the APR info in the OP is confusing well at least to me.. It shows "1 year term deposite ~ 100% bonus on interest" does this mean if you deposite for 1 year you get 100% of the annual APR? or does this mean you get 100% on top of the APR? I think the term "bonus" used in the 100% and "bonus" used in the APR description may be whats throwing me off..
Second I see 1st month ~ 2143% APR however we are at 4243% (at the time of writing this) was the OP written before you decided to bump the starting ARP? if so I can see why my math is off.. if not well then I'm not sure what I have wrong...
Third I havn't been able to work out the math on your dropping APR.. meaning starting at 4500% then dropping it 6.16438 each day for the 730 days (2 years) brings us to 0% however that would mean we are at ~4475% (time of writing) not ~4243% (time of writing) So I must be doing something wrong? The only reason I know its 4243% (atm) is by using the wallet pop-up prompt...
Forth I can see you worked hard to make it more advantages to lock (hodl) funds for longer periods vs. short-term compounded schemes.. This is where the decreasing APR comes in handy because with 3 months at 60% if the APR remained constant it would be in someones benefit benefit to work the 60% short-term on a compound leaving them tempted to perhaps dump prior to the full year.. Now without me being able to factor this decreasing ARP I haven't been able to work out if the APR reduction reduction is timed proper against a 90 day compound scheme...
ok last thing.. From the OP and from what I can somewhat see in my wallet it looks like "all outputs" are supposed to earn intereset.. from your sig I think this is supposed to be 0.000015% per block.. once agian maybe Im looking at this wrong.. but I see may balance in my wallet increasing with almost every block.. The problem Im finding is (once again Im feeling lazy right now.. havent looked at the code..) is this intreast isn't like a PoS subsidy.. meaning I see my wallet balance increasing however when I go to Coin Control and look at each of my coin holding addresses on the blockchian... I can't seem to find where the interest is going or coming from... Could you clear this up please.. where do we find this interest being paid and how does it work?
Any clarification you can give would be great...
Ok, I should probably start writing an FAQ. I'll start here.
FAQ 1: How in heck do I calculate what interest I'm going to get?
1. The Standard Interest Rate
Interest is paid on regular balances (outputs), on every block, for a period of up to 30 days (561x30 blocks). The rate is 0.0000002384185791015625% (1/2^22). It's compounded every block, so the rate is approximated 5% APR. However, remember there is a maximum of 30 days, so to get that APR, you'd need to log in each month and shuffle the HODL to a new address.
2. Term Deposit Bonus
So if you lock an amount of HODL as a term deposit, you get a bonus on the interest. The longer the deposit, the bigger bonus. The bonus is just a multiplier of the interest, so if you locked up 100 HODL for 1 year, you'd expect a return of 5 HODL. The term deposit bonus for 1 year is about 100% - so at the end of the term you'd have 110 HODL (Capital 100 + Interest 5 + Term Deposit Bonus 5). See the chart for the multipliers, or use this formula - =(1-((409530-X)/409530)^7)*100 (X is the number of blocks to lock for, min 2 days, max 1 year)
3. Bonus Interest Rates
So here's where it gets interesting and also a little complicated. To encourage early adoption, astronomical rates of interest are paid in the early months. The max rate is 0.0000152587890625 (1/2^16). Compounded, the rate is 2274%. It's reduced every block by a multiplier - calculated like this =(409530-X/409530)^4 (X is the block where the amount is locked). See the previous chart.
So to calculate your full bonus return . . . it's
Principal + ((Standard Interest + (Bonus Interest * Bonus Multiplier))*Term Deposit Multiplier)
n.b. When a Term Deposit matures, it stops earning interest - you need to move it to start earning interest again.
n.b. Bonus rates are paid on regular balances too
n.b. The bonus rate is locked at the time of the transaction, the rate you can achieve reduces over time due to the multiplier, but once you're earning that bonus rate, it doesn't reduce.
