Quick update regarding the 'GRIDCOIN' MPA - The Gridcoin price fluctuated, triggered a black swan state and the asset has been stuck in said state ever since: https://bitsharestalk.org/index.php/topic,22733.msg299091.html#msg299091
It has however opened the door to new developments by PC regarding MPA resiliency to black swan events. Once these new changes are in effect, the Gridcoin community will reactivate the market pegged asset, requiring more witnesses to produce the price feed.
Prior to the black swan event we only had 2 or 3 witnesses out of 25 (27?), whilst changing the witness count may be a dangerous idea the concept of vote weight degradation over time for witnesses and committee members is still sound.
What does everyone think?
I do think a UIA fits more in Gridcoin's situation, perhaps with a special owner/committee like the STEALTH asset (check https://cryptofresh.com/u/stealth-mgmt , the owner is a multi-sig account, automatically controlled by top 5 holders)
We've already got an EBA (OPEN.GRC), issuing an UIA would inflate the GRC coinsupply (unlikely to fly with the GRC network unless we burnt GRC before project-raining an GRC UIA).
We're waiting for the blackswan hardening features to be implemented within BTS early this year, when the changes are implemented we will revive the GRIDCOIN MPA even if it's risky.
This is off topic though, back to the main point - vote degredation!
People are talking about increasing the block rewards for witnesses to encourage more active/productive witnesses:
https://bitsharestalk.org/index.php/topic,23702.0.htmlSurely degrading votes over say 4-6 months would encourage witnesses to continuously campaign for their positions and open the door for new witnesses to potentially gain power?
Getting witnesses to add price feeds for the GRIDCOIN MPA was like pulling teeth - witnesses should be far more active & inactivity should have consequences, even if their witness node is healthy.
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