Decenomy, a project focused on revolutionizing transactions through blockchain technology, has announced a groundbreaking update currently undergoing beta testing: The Dynamic Rewards System. This innovative system aims to create a more transparent, equitable, and sustainable network by dynamically adjusting block rewards based on key network metrics.
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The core feature of the Dynamic Rewards System is its ability to adapt block rewards based on the network’s total and circulating supply. This ensures a closer alignment between these metrics, fostering a healthier and more sustainable ecosystem for Decenomy.
Key Features of the Dynamic Rewards System
- Dynamic Block Reward Adjustment: Block rewards will fluctuate based on real-time network data, ensuring optimal resource allocation.
- Advanced Circulating Supply Algorithm: A sophisticated algorithm will precisely calculate the circulating supply, providing a clearer picture of token distribution.
- Enhanced Supply and Emission Metrics: Users will have access to a more comprehensive view of supply and emission data, promoting greater transparency.
- Smooth Reward Adjustment: Transitions between reward structures will be seamless, minimizing disruption for network participants.
- Transition to DAO Governance: Ultimately, the control over reward adjustments will shift to a Decentralized Autonomous Organization (DAO), fostering a community-driven ecosystem.
Thorough Testing for a Smooth Transition
The Dynamic Rewards System is currently undergoing rigorous testing on the Kyanite Testnet (tKYAN). Adjustments are being made hourly, allowing Decenomy to monitor and refine the system in real-time. Once testing is complete, the system will be implemented on the mainnet, with adjustments occurring every 30 days.
Transparency Through Community Participation
While the initial testing phase involves Decenomy developers and long-time supporters, the project plans to open the testnet to the public soon. This allows for broader participation and fosters a deeper understanding of the system’s development and deployment. Users can actively participate in the testing and gain insights into the entire process through the DMY explorer.
The Dynamic Rewards System marks a significant step forward for Decenomy. With its focus on transparency, equity, and sustainability, this innovative system paves the way for a more robust and future-proof blockchain network.
