My understanding is that the fees are burned as well, which in a small way could potentially help erode some of the inflation.
This is a myth. I was informed by Symbionts that the fees go the the regent account Socialgraph.
RE: deleted
You are viewing a single comment's thread from:
deleted
Hmmm. I'm a little familiar with the account as I looked into it some months ago to understand who is actually working for the foundation and receiving payments. I wonder how one could access the many micro transactions it's collecting with every action here. That would make for an interesting study.
So hopefully soon, we will be able to make proposals for the community to vote on which will be funded by our fees. 😊
https://blurt.blog/witness-category/@symbionts/symbiont-s-or-ecosynthesizer-or-major-upgrade-create-and-remove-proposals
I'm hopeful if this is the case it doesn't get corrupted as we saw it happen on Hive. All the top stakeholders who control Hive all vote for their pet little projects and for the most part we saw little come of it other than the huge flow of Hive into their wallets, lol. I trust the foundation but will be curious to see what safeguards could be put in to prevent such a dynamic.
So far, it is fair to say that after nearly two years, the Foundation has not done anything abusive with the account. What might happen is that things will just continue as they are, with the Foundation managing the "regent" account, into which flow our fees. It would really be great to see the proposal system in action, with community projects and other proposals which we could vote on. The idea that our fees could go to worthy requests would be ideal, but as you rightly point out, it could go in a more negative direction, which would be sad and upsetting, because what happens when we are faced with the dichotomy of knowing that it is our fees that could be funding proposals that we do not agree with. I would be more in favor of just allowing the Foundation to continue managing the funds.
I'm hopeful they continue on in all aspects. I told that to Jacob when he posted last year that the Foundation would be backing off this year. I have no desire to see a bunch of whales collude to make themselves rich at the rest of the communities expense like we see go on at the other chains.
I'm with you, Bro! 💯