Developer Rewards In PegNet

PIP 16 — Contributions To Developers Made Easy

The PegNet community has always taken an individualistic approach to rewarding developers. Members of the community pledge PEG toward a feature or project they want to see build on PegNet and the first developer to complete the task claims the reward. Using this method than 20 Million PEG have been awarded to devs that built the explorers, wallets, PegNetd, and other software that supports PegNet today.

As PegNet 2.0 is nearing time to roll out, the question came up about how to continue this tradition and formalize it more in the PegNet protocol, but at the same time to reinforce the individualistic model of donations. So rather than a bunch of voting, the proposal is to have 2,000 PEG per block be sent to devs as directed by the PEG Stakers.

The beauty of PIP 16 is that no user action will be required in order to make contributions to developers. The dev reward will added in the PegNetd software and allow all PEG Stakers to select developer addresses they choose to support. The PegNet software will then automatically make a proportional reward to that developer based on the amount of PEG the Staker has. So for example if a PEG Staker wins 2% of the PEG Staking reward that block, then 2% of the 2,000 developer PEG (40 PEG) will be sent to the addresses selected by the PEG Staker.

Note: This Dev reward is separate from the PEG Staking reward which is 4,500 PEG per block. Meaning Stakers are NOT directing a portion of their personal PEG Staking reward, but rather using their Staking proportion as a “Signal” to show support for developer work they are most interested in see protocol resources go to. So the mining reward is 9,000 PEG, the PEG Staking reward is 4,500 PEG, the pAsset Staking reward is 4,500 PEG and the Dev reward is 2,000 PEG, coming to a total of 20,000 PEG per block.

Over time this developer rewards add up. 2,000 PEG per block times 144 blocks per day, times 365 days per year, equals 105,120,000 PEG. Multiplied by the current price of PEG ($0.002) thats $210,240 USD worth of rewards to distribute to developers building out the PegNet ecosystem. This helps all the PegNet improvements the community sustainability developed over the coming months / years.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
David A. Johnston

Entrepreneur, Investor, Technologist, Voluntarist, Future Martian Settler, & Evangelist for Decentralization.