Emissions followup and next steps
Hello Stackers! It’s been amazing to hear so many perspectives on the emissions research. Thank you for engaging and providing your input!
I’m writing this post to provide Stacks Foundation’s current recommendation based on all the research and feedback we’ve received. Please note, the recommendation is distinct from the recommendation provided by 7th Ave Group which was summarized in the initial forum post. We encourage others to share their perspective as well as replies.
Stacks Foundation
Summary: We recommend waiting until after the Nakamoto release to prepare a SIP or take any further steps.
Why?
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The majority of the community urged waiting until launch to decide so we can run more updated models.
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We’ll be able to run updated models post-launch to have more confidence to keep 2050 supply the same.
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It would still allow plenty of time in the back half of 2024 to research and support a governance vote before the January 2025 halving date is upon us.
What other things should we consider in future decisions?
At the Stacks Foundation, we are generally against recommendations that increase 2050 supply from the original 1.818B projections and would likely be interested in solutions that delay the Jan 2025 fork to allow more time to gather data, but for those changes to not impact 2050 supply overall.
Given Stacks’s close tie to Bitcoin, there may be an advantage to sync the Stacks halving date to the next Bitcoin halving and to keep them on the same schedule. This would further align Stacks with the Bitcoin narrative, which makes it easier to see that Stacks become more scarce in mining as Bitcoin becomes more scarce.
Last, we are encouraged to see other proposed solutions to address the miner decentralization concerns that are not related to tokenomics - including R&D around decentralized mining pools, Nakamoto upgrade rules that encourage more miners, and the possibility of bootstrapping signers.
Fundamentally, the decision-making framework laid out in the 7th Ave Group research reports remains a good guide as we see the network through the Nakamoto and sBTC launches.
What’s next?
We encourage the community to continue to share ideas and research ideas to this forum post to continue the discussion. It’s important that we can have healthy, productive conversations and entertain possibilities well before they become a potential problem, growth blocker, or before it’s too late to act.
If you’re interested in some of the potential solutions to encourage more miners, we’d also encourage you to look into some of the other research areas. More information can be found in the SIPs github.