I appreciate all the work that has gone into figuring out PIP-22, but after having spent hours playing with the economics of this version of weighted stake, I will be voting no.
To have a successful economic model, you have to be able to keep a balance while addressing:
- Number of nodes
- Validation Security
- Price changes
- Inflation goals
The new parameters being introduced in PIP-22 are much too complex and sensitive to be effectively used to create a balanced economy. I’ve discussed the economics with others and so far I haven’t seen or heard of a working approach to mapping out how the economics would balance out. I feel the theory of PIP-22 is interesting, but I don’t see the real economics of it playing out in a balanced, predictable way.
I believe investing core-dev resources into PIP-22 would be an inefficient use of resources when we can easily increase the minimum stake to have the same impact outcome. Why invest time into a v0 feature that will have major economic issues, when we already have the params we need to address our needs?
Now that I’ve given PIP-22 a fair shake with seeing how the economics will play out, I will return my attention to PUP-17 and will be updating it will a more in-depth economic model.