Quote from: bitseedmike on March 24, 2016, 02:45:27 AM

Quote from: cc001 on March 23, 2016, 10:01:49 PM

Quote from: bitseedmike on March 23, 2016, 09:02:49 PM

I was originally waiting until the Lisk launch to announce my delegate plans, but given the recent amount of discussion, I will do a pre-announcement now.

I will be seeking to run 3 delegates, all of which feature different forms of profit sharing with the voters.

A profit sharing delegate which makes payments of earned Lisk directly to votors
A dapp seed funding delegate in which voters receive shares in a fund which owns shares or tokens of the dapps it funds
A funding delegate for a dapp which is of such immense scale that it merits its own delegate, which also awards shares to its voters

The initial percentage I will keep will be the equivalent of 50% of one delegate, divided by the number of delegates voted into the top 101. If one of the three is voted into the top 101, my percentage is 50%, if two are voted in, my percentage is 25% of each, and for all three voted in the percentage will be 16.7% each.

As the value of Lisk changes in value denominated in gold, the percentage I retain will be adjusted, but never exceed the rates above. Any changes in the delegate reward structure from Lisk will also be factored into any rate changes.

The rate changes based on the change in value in Lisk will be adjusted so that when the value of the earnings quadruples, the percentage I retain will be cut in half. This way, the increases in earnings will be divided evenly between the voters and myself.

In the interim period until the voter profit sharing dapp (https://forum.lisk.io/viewtopic.php?f=8&t=27) or other software is availalbe, in the case of direct sharing of Lisk, I will hold the earnings in the delegate Lisk account for an initial distribution to voters based on their voting records stored on the Lisk Blockchain up to the time of the initial distribution. Succeeding distributions will be made on a regular cycle, most likely once every full forging round of the 101 Lisk Delegates.

I am keeping the names of the delegates quiet for now to try to avoid any would be name squatters from trying to register them first as delegates. Others planning to run delegates may want to consider this precaution as well.

I will also be offering services to set up and manage delegates for others. While the number of delegates is limited, setting up dapp clusters for the many different dapps which can be expected is a much larger potential market which will require a similar skill set.

Please keep me in mind for your votes, and I will reciprocate as well. Thanks.

Great, I support this initiative!

I have two remarks though:

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when the value of the earnings quadruples, the percentage I retain will be cut in half. This way, the increases in earnings will be divided evenly between the voters and myself.

I don't get that. Why not always keeping 50% and distributing the other 50%?

It would be a large windfall for one person to keep with a large increase of Lisk value, so by halving the management fee as earnings quadruples, it still allows a nice rise in earnings for managing the fund while making things steadily more attractive to supporters. Also, I expect other delegates with similar voter rewards plans will offer increasingly lower fees as the value of Lisk increases. In the other direction, if Lisk management decides to change the delegate rewards program due to an increase in Lisk value, the delegate fund management fee could be adjusted back up in a likewise manner, but never to exceed the initial fee rate.

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Succeeding distributions will be made on a regular cycle, most likely once every full forging round of the 101 Lisk Delegates.

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Meaning every 17min? I think it is not worth to distribute the little you make every 17 minutes. I think it would be enough to distribute it every day or even every week?

A lot depends on how well automated the distribution is. Another factor is the flat .1 Lisk transaction fee, so it might indeed be advantageous to do the distributions once a day or even once a week instead of every block cycle. Crypti used .1% for a transaction fee, so the frequency of distribution wouldn't matter. Good point, though - Lisk is different in this regard.

Glad you like the plan, Thanks!

You'll get my votes. I like your ideas for helping the coin and platform grow. Investing/speculation is one of crypto's killer apps right now, so the profit sharing is big. And obviously the more dapps and higher quality dapps the better.

Anyway, I'm new to the whole dpos system, I've tried to do some research and I know it's hard to estimate at this point, but I'm just curious about what you think someone could make for each 5000 lisk of voting power?