Dude,
copy and paste it here, not all of us are going to sign up just to read the community forum.
╥Aztek
COPY OF sprout Community forum
As this is a major update we have created a separate topic to keep the general updates topic as clean as possible.
Introduction
The current Sprouts wallet has an high PoS reward (10% after 5 days plus 2% every next day). This PoS reward has resulted in a (near) exponential growth of the total supply and as a result, a devaluation of the currency which in turn makes it very hard to trade; there is very little room to trade as the value is below 1 satoshi.
The bottom line is, if we don’t make some serious changes soon, no amount of sun and water will keep sprouts… Sprouting?
Combining views
We as coreteam all have different backgrounds, knowledge and views. Together we form a social multidisciplinary team with the same goal: a successful relaunch of Sprouts that’s good not just for the community, but also for the entire world.
We have taken on board your votes and opinions and combined them with our views and have come up with what we believe, is a great future for Sprouts and for the planet.
Results
Total Supply: reduction of 3 decimals
We have decided to reduce the total supply by 3 decimals. Our assumption is that when reducing the price by 3 decimals the value will increase by 3 decimals. This will make it easier to trade (with Bitcoin). Eventually this will resolve the “1 satoshi sellwall” on the market. The exact number of the new total supply will be between 300 million and 500 million.
Example:
If at the time of the reduction the existing total supply is 800 Billion and the new total supply is 300 Million and you hold 230 Million Sprouts, here’s the calculation:
800,000,000,000 (total supply at reduction) divided by 300M (new total supply, after reduction) equals 2,666.
Your holding at the time of the reduction, divided by 2,666 equals your new holding.
If I had 230 Million Sprouts before the reduction, I’d have 86,271.56 Sprouts after the reduction.
Reward: annual reward 8%
The votes from the team and the community resulted in a 8% annual reward. Our experts have experience with altcoins with annual rewards between 5 and 10% and they seem stable. We also thought 8% would be a fair reward. It is much lower than we are all used to, but we do not want the old scenario fast growing total supply, to occur. 8% has also a great symbolic value, we think, considering we have a coreteam of 8 and the symbol 8 is infinite as are the possibilities for Sprouts.
Reward paid in days
To keep the markets in continuous movement and to make sure people soon experience the positive effects of staking through the wallet, we have chosen for a daily reward. This reward will be a fraction of the 8% reward and will be calculated very precise so Sprouts does not have the cumulative percentage (percentages adding up every day, reaching a combined grand total annually) issue Sprouts has with the current wallet.
Reward split up
Staking will result in a 8% annual reward, paid daily. The reward will consist of three parts: net reward, charity and research and development.
84% of the annual reward will go directly to the wallet owner, then 8% for charity and 8% for R&D. These funds will be directed to two central addresses and will be used for charities (the community will have a say regarding which charities will be supported) and research and development (marketing, costs, etc.).
Conclusion
The total supply and the reward will be reduced significantly. The reward will be split as discussed in three parts: reward owner, charity and research and development. We expect that the parameter changes will result to begin with, with a significantly higher value, a stronger position on the exchanges/markets, more trades, etc… We hope the charity and research and development funds will eventually add a new dimension to Sprouts plus create a stronger base because of the increasing financial possibilities.
Coming soon
Estimated deadline wallet launch
Why estimated? The duration of the process depends on our next choices. The same applies to the roadmap (including the tech roadmap).
Stay tuned for a further update within seven days from this post.
