Hello fellow Freelancers,
We have a few announcements that we want to share with everyone regarding the team and status of the project. We are very excited by the news that we are releasing to everyone and hope you find this information just as exciting as we do. To start with we would like to welcome @burning01, @coleus, @fireseal, @crypto-dev, and @🦇「MafiaCat」「女神」「既婚」🦇 to the team. @burning01 and @coleus are joining us as Moderators and Advisors to the project, @fireseal is joining us as the Marketing Manager, and @crypto-dev and :bat:「MafiaCat」「女神」「既婚」:bat: are joining the team as Lead Developers. In the coming weeks we will be updating the website to include information regarding the team and their backgrounds as well as a whitepaper that will cover everything surrounding the project.
The original developer @worx-dev has had to step down from the project due to some personal reasons. He has transferred his premine holdings to @!🤴🏽Mr Grow🤴🏽! and asked us to continue the project. We plan on doing that and hope that we can welcome him back in the near future. The new lead developers are hard at work and we hope to share some good results soon!
Lastly, we have been performing a large amount of testing and analysis regarding the block reward system and have found that the last week voted system will become extremely problematic down the road, especially with users who do not update. We evaluated other projects that are successful as well as extrapolated what we are currently doing and found that one of the largest problems facing us is a possible oversupply condition in the market which will drive prices down. For this reason, we are implementing a few changes. First, the following block reward structure will be implemented:
Phase 3 28801-57600 8 WORX 80% 20% Current
Phase 4 57601-86400 12 WORX 80% 20% reached in 2 days
Phase 5 86401-115200 16 WORX 80% 20% reached in 24 days
Phase 6 115201-144000 20 WORX 80% 20% reached in 44 days
Phase 7 144001-172800 24 WORX 80% 20% reached in 64 days
Phase 8 172800-infinity 28 WORX 80% 20% reached in 84 days
As you can see it is the original one as we have removed the phase 9. The logic behind it: reward increases with the increased number of masternodes thereby ROI remains the same for a long time without creating an oversupply in the time.
Secondly, we will be implementing a voting system. As we grow and develop the project we will constantly be analyzing the market conditions. If we detect any possible issues, we will decide on what needs to be changed and present a few options for the masternodes to vote on. The outcome of the vote will help determine the final decision that is made and the wallets will then be updated as needed. We hope that with this new process we can bring transparency to what we are doing, attract new investors while maintaining ROI for current investors, and grow the project into something that truly captures the vision that is the block chain.
As always we welcome all your comments, questions, and suggestions!
Worx Team