This is great news!
I do have some questions though.
1. Will Triangles stay POS?
2. Will the total supply of 120k remain the same?
3. Will the APR interest stay at 33%?
Now I can help out with promoting the newly launched Triangles on Twitter and other social media sites. I'm not a tech guy so I can help in that area, I will help this coin anyway I can as I really love this coin and want to see it succeed as people can see from my posts in here. This is what needed to happen for this coin to grow as it's basically not going anywhere at the moment with no links working, no website or block explorer so I'm happy to see this.
I did some thinking about long term scalability for TRI and have a proposal for the TRI community to consider.
1. Yes, it would stay Proof of Stake.
2. Recommend an increase in the supply of coins to 160K to 200K. The TRI blockchain is already at 95.7K coins versus the planned total supply of 120K coins (see the explorer
https://explorer.triangles.technology). This means we have less than one year left of earning 33% until we reach the maximum supply of 120K shares. Once we reach 120K, the only potential growth/revenue left would be from transaction fees and I am not sure this is sufficient return to motivate PoS miners to maintain the network.
3. The APR needs adjustment, but how to do so and still motivate miners?
Option A - yearly inflation mirrors bitcoin, TRI becomes a deflationary platform (I recommend this approach)
staking rate is cut in half every 6 to 12 months from the current 33%, 16.5% in period 1, 8.25% in period 2 and reduces by 50% each subsequent period.
Option B - yearly inflation reaches a steady state rate that the community agrees is viable
staking rate gradually decreases from the current 33%, 16.5% in year 1, 8.25.5% in year 2 and stays at 8.25% for all subsequent years. With this approach TRI will have meaningful inflation in the number of coins over time.
@Vella85, what are your thoughts on either proposal? Obviously this would need to be vetted by the TRI community and would require code updates / wallets.
I created a Slack channel to discuss, we welcome the community to join us and discuss improvements to the platform including the website and social media channels.
https://join.slack.com/t/trianglesdev/shared_invite/MjQzMDEzMjU5ODQ3LTE1MDU0OTYxNzItMTY2YTc2ODQyNwI think everyone has valued points on which direction Triangles need to take. I actually like that Triangles increase the total coin supply but it's finding that balance. I see people say that the coin won't be rare any more but just look at some of the other low supply coins that have a couple million coins. There price is high while Triangles is around $2.50 currently. When it hit $16 that was mostly from hype on Twitter as I have noticed some guys on there have a huge impact on prices with some POS coins. When they tweet Bang! that coin shoots up in price, now as we could see if this coin had value that price would of help at $16 for a long period of time and not come down to the level we are at. So it was just a pump so I think there needs to be changes and increasing the coin supply is a step in the right direction. I think 500k to 1 million is a good amount and the coin will still be rare compared to most other Altcoins out there. We also need future developments as what is the sense in buying Triangles? Just think a 500k supply is small at the current price as it would just be over 1 million marketcap $10 5 million $100 50 million and where the big coins are at 500 million marketcap would make Triangles value at 1k so I'm all for a increase in coin supply and I vote for 500k as that is an even amount and a good amount to have in my opinion.