I like delegates taking ownership for the network, giving them an economic incentive to improve participation by everyone.
I still think the game-theory behind delegates strategy is kind of backwards with weird incentives (e.g., delegates have the incentive to actively damage the network in the case of a price shock; delegates are "forced" to keep pay rates well above market value). This proposal has good intentions, but layered on top of the other backwards incentives might lead to a big problem:
If I'm running a node and I choose a 20% payrate to be my subsistence rate with 100% uptime. My vote total drops from 100% to 95%, and I have no ability to raise my rate, I now have the incentive to turn off my node. You then have to wait for enough people to vote you out, which may not happen quickly - and there is now a dead delegate for an indefinite amount of time.
I generally believe the market should sort it out:
1) delegates should be allowed to set the pay rates to whatever they want (I understand the argument against, perhaps you can allow for a publicized lag time between when it is announced and set. Give users the choice whether or not they want to vote for someone that chooses to run a dynamic operation where payrate tracks bitUSD, for example).
2) If users do not want a delegate in, they should be able to down-vote a delegate.
EDIT: For this plan to work, delegates also have to have the ability to raise their pay rate.
Actually I wouldn't have it multiply like that. If you have a pay rate at 20% and an approval of 100% your effective pay rate will be 20%. If you have a pay rate of 20% and approval of 21% you still get 20%. If you have pay rate of 20% and approval of 15% then your pay rate is only 15%.
Effectively low-approval delegates cannot demand 100% pay rate. But high approval delegates can get their pay rate.
another idea:
what about not to burn some BTSX but use them to pay standby delegates...(?)
for example If you have a pay rate of 80% and approval of 15% then:
1. your effective pay rate is 15%
2. 20% of BTSX get burnt (like before from total)
3.but 65% get spited proportional to their votes to all delegates included the standby...
I'll just say this and let it be where it is so people can at least know of the plans we were
considering behind the scenes.
We were thinking to build a platform where Delegates essentially pay registered DPOS users to help propagate their content. "Action Points" could be purchased in bitUSD, bitYuan, bitRubles, bitGold/Silver...etc, as "donations to Beyond Bitcoin
X". A daily purchasing cap in addition to an account total cap on "action points" would be present to keep any delegate from becoming too powerful. These work to fuel creation and sharing of content (whether educational, entertaining, pr-related...anything really). These action points can then be attached to posts that a Delegate or Sponsor Users think needs to be known by the rest of the investors and crypto community. *I wont go into all the plans for uses of these points outside of this sphere yet*
In the case above, using this platform, the Delegates philosophically inclined to agree to do something like what you say above would pay the community in its saved-up "action points" to propagate the content on social media. There will be a cap to ensure users can't game the system (unless they go to the trouble of creating another account and building trust on it too). And even links to DAC/Delegate sponsors could incentivize users to click on them by being given action points to be redeemed by a user.
This way delegates are not forced to do any particular thing by the system. All they have to do is get power from those who have a vested interest in the system. We are looking for helpers in this project if anyone is interested. There are also projects around the forums I have thought i'd like to utilize in conjunction with this (as part of the sites functionality), so I'd be interested to hear what you have to say about this within the system you are proposing if you can muster the time to explain.
As far as the transaction fees there are potentially really cool things that can be done with that. Interested in hearing further solutions.