GitHub: https://github.com/gridcoin-community/Gridcoin-Tasks/issues/250
Reddit:
MRC PR
https://github.com/gridcoin-community/Gridcoin-Research/pull/2425
Introduction
Hello! I bring to you good news, courtesy of Jim Owens and the rest of the core developers and testers.
MRC has been a talking point of the community for over four years. Welp. Here it comes!
Much of the technical work has been completed and undergoing testing. It is loosely expected to be part of the next major update named Kermit’s Mom.
There is one remaining logistics question that needs to be answered, and will be answered by this poll.
For some background on the rationale behind MRC, please read my introduction post on the subject (from what seems like a lifetime ago):
An Introduction to Manual Rewards Claim
Otherwise, we present here the basics of MRC and a poll to determine the percentage of the MRC-fee that is sent directly to the community wallet.
Basics of MRC
MRC stands for Manual Rewards Claim. It means that a cruncher can click the MRC button and receive their research rewards without the cruncher themself having to stake a block. It is great for users without enough GRC to regularly stake a block.
Operation
- There will be a 14 day minimum between receiving a research reward, whether from a staked block or a previous MRC, and clicking the MRC button.
- There will be a fee for using the MRC feature.
- That fee will be a percentage of your owed rewards.
- If you claim your rewards at 14 days, that fee is 40% of your rewards.
- After 14 days, the fee reduces based on the formula: (40% * 14 / t) where t is equal to the number of days since your last received reward.
Some examples
- At 14 days, the fee is 40%
- At 28 days the fee is .4*14/28 = 20%
- At 56 days the fee is .4*14/56 = 10%
- At 180 days the fee is .4*14/180= ~3%
The Poll
The poll is connected to the treasury system.
MRC creates a new fee in the Gridcoin ecosystem. This fee can be used in many ways. For this initial implementation, we propose dividing the MRC-fee into two chunks:
Chunk 1: A reward for the staker that secures the block and sends the MRC to the person that clicked the button.
Chunk 2: The community wallet.
This poll seeks to determine the percentage of the fee that will go to the community wallet.
NOTE: You are voting on the percentage of the MRC-fee that will go to the community wallet. You are NOT voting on what the MRC-fee should be. The MRC fee is determined by the 14 day window and formula described in the “Basics of MRC” section.
An Example Because This is a Bit Confusing and We Want to be As Clear As Possible
- Let’s say this poll determines that the percentage of the MRC-fee that goes to the community wallet is 80%.
- Let’s say I am a cruncher and am owed 1000 GRC.
- Let’s say I last received a research reward 56 days ago.
- Let’s say I now click the MRC button.
- This means that I must pay a 10% MRC-fee from the 1000 MRC I am owed.
- This means I must pay 100 GRC as the MRC-fee.
- The 80% result from this hypothetical poll would mean 80 GRC will go to the community wallet and 20 GRC will go to the staker that sends me my owed rewards.
- In the end, I will receive 900 GRC, the community wallet will receive 80 GRC and the staker that produced the block with my rewards in it will receive 20 GRC.
Poll Information
Poll Type: Development
Poll duration: 42 days
Start Date: 2/24/22
End Date: 4/7/22
AVW Requirement: %50
Question: What percentage of the MRC-fee should be sent directly to the community wallet?
Options:
- 50%
- 60%
- 70%
- 80%
- 90%
- Abstain
Really nice to see MRC on the way.
But why do the options only start at 50%?
Also what happens if 20% vote for 50, 20% vote for 60 and 30% vote for 90? I guess 90 would win, but other (more) voters would prefer a lower value.
Maybe this could be split up, like in the french presidential election. Use this poll to find the two most popular options, and start a second poll to choose the winner between the two
Because the general belief is that 50% (or more) should go to the foundation. The staker is already getting the CBR fee, their own research rewards and the transaction fees from all transactions, and now will be getting the MRC fee. Percentages less than 50% to the community wallet (foundation) tilt it too much towards the staker.