Since BiblePay is moving to Evolution in June, we have the opportunity to potentially change the Sanctuary lockup requirements from 1,550,001 to another figure.
I think this would be a good time to discuss potentially changing this lockup requirement higher in order to :
- Give our investors more ROI per Sanc
- Decrease Hosting Costs
- Increase reliability per Sanc (because user may afford a higher quality host and have more time to monitor each sanc)
The obvious downside to this is a higher barrier of entry cost for the small investor.
But, with our recent downturn in price bringing a sanctuary investment to only $400, I think this is a feasible idea.
For me as an investor, I would personally lean towards consolidating so I can spend less on hosting fees.
Analyzing the effect of wasted hosting:
We currently have about 500 sancs.
Our sanc owners are spending a very high percentage of the revenue on hosting (If hosting is $10 per month, with $20 of revenue that is 50% spent on hosting).
I believe reducing the sanc count by half will not hurt biblepay (as 250 nodes are still more than enough to service our network), and, it could be argued that 250 high quality sancs are better than 500 low quality sancs (as with low quality instant sends could get lost).
Additionally over the next 5 years, even if we move to 125 sancs, our sanc count will again increase (due to more coins being emitted and a lockup ratio average of approx 50% coins become locked into sancs).
I propose that we enter 3 sanctuary proposals floating this idea with different size lockups:
1) 3 million lockup
2) 4.5 million lockup
3) 7 million lockup
If all 3 are voted down we keep 1.55 MM.