David Moss & Strongblock Fud vs Fomo — 22/11/2020
FUD: The team is going to dump their tokens after the burn.
FOMO: The team has not sold any tokens since launch. We’re in this for the long haul.
FUD: Are you really going to burn 9.6m STRONG? 96% of minted tokens? That seems absurd.
FOMO: Yes. Before December 1st. Too many tokens = too much inflation = too much FUD.
FUD: There won’t be any tokens left for rewards after the burn.
FOMO: Rewards after the burn will be lower, and will come from a combination of community tokens, node fees, and other sources (to be announced after the burn) in a more sustainable manner. Again, this is about the long term stability of the protocol and STRONG.
FUD: Gas fees for claiming are too high.
FOMO: (This answer is also in the pinned post.) We know. The claiming contract has a lot of math; math in Ethereum costs gas. We have developed and are testing a solution. So far, it dramatically decreases gas fees. We are doing more extensive real-world testing this weekend.. If it passes, it will require migrating to new pool contracts. Ideally, you will not need to unmine or claim for this to occur. If you do need to unmine, other fees will be turned off. Once the migration is complete, you will be able to claim already-earned rewards, but with low gas fees.
FUD: Nodes are not getting approved fast enough.
FOMO: Approving nodes is currently a manual process. Manual means staff have to manually review and approve nodes. We usually respond in 2 business days. Once the process is automated, approvals will be faster.
As we mentioned last week, we’re also developing a new method to allow anyone to quickly set up a new node without any technical knowledge, similar to what we built for our Blockchain-as-a-Service platform. Details coming after the burn.
FUD: The Early Holders pool rewards rate is too high.
FOMO: The EH pool rewards have been lowered. The pool will be folded into the Strong Pool soon. Stay tuned.
FUD: Nodes don’t matter.
FOMO: Blockchain nodes transmit, relay and store decentralized blockchain data. Although nodes are crucial to the integrity of their blockchains, not all nodes are rewarded within their own blockchain networks. StrongBlock believes that rewarding nodes running the latest stable version of Ethereum, who exhibit reliable uptime, and have few to zero outages, makes for a more stable and resilient network. That became obvious with the Infura outage that affected MetaMask, Binance and others.
So, we think that nodes matter. A lot. And that’s why we built a protocol to incentivize them.
FUD: There is no new Tokenomics.
FOMO: We have already published the token allocation. We will be publishing rewards schedules and new information about the node ecosystem soon after the burn.