Bible Pay

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  • Rob Andrews
  • Administrator

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    • June 05, 2017, 08:09:04 PM
    • Patmos, Island Of
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Monthly Superblock Budget Change
« on: August 04, 2020, 09:21:39 PM »
Since we voted that sanctuaries will sponsor orphans starting in the next mandatory, this means that Sanctuaries are paying the lions share of the charity expenses in the future.

This means that BiblePay should not pay the primary charity expenses from the monthly governance superblock (this is approx. 10% of the coins emissions).

I propose that we reduce the monthly superblock budget (by removing the charity component) and apply it to the coinbase reward, and we raise the sanctuary portion of the coinbase (approximately to the proper percentage that rewards this amount primarily to the sanctuaries).

This means the monthly budget will drop to 4.8 million (from 9.7 million) - and we will clarify the breakdown on the website to:
8.75% - Monthly governance:
- 50% IT
- 25% PR, P2P
- 25% Miscellaneous

And the 8.75% would be added to the sanctuaries, bringing their reward up to 41.25% (from 32.5%).