Developers Forum for XinFin XDC Network

Discussion on: Increasing the Security and Decreasing the Supply of XDC

ronald_mitchell_0de6c6219 profile image
Ronald Mitchell

I would lean towards 20x increase however also have a function to increase or decrease later. Once price per XDC reaches $1-$2, the 20x May actually be more than institution/enterprises wish to pay at 100k tx per minute. Especially when we have pitched "Near Zero Gas Fees" for 3-4 years.

I also suggest when creating the decentralized payout for nodes, we utilize NFTs with a redeem feature. This allows the NFT to accept rewards, not the wallet, therefore it's not a taxable event until the owner redeems rewards.

He may choose 1x a month or 1x a year for organization on taxes. He may chose 1x every 4 years and try to time the bottom of market to avoid costly taxes. It's the choice of the NFT holder.

When this takes place I also suggest offering validator nodes and standbys a time period to change wallets and add more security to the network. (Maybe requires an additional proposal)

duts profile image
duts Author

Great suggestions.
Also, yes - personally, I think the best way forward is probably to ensure that we can change the TX fees as needed. So, when the price of XDC is way up, we can lower the fees again if necessary. Adaptability.