Possibility to donate a part of the XSI and XLP XIO earned each month

💭 Exploring Ideas ⚙️ Tokenomics
#1

I think it would be a good idea to give the possibility to the people to chose if they want to donate back to XIO a part of their monthly earnings from XSI and/or XLP programs.

Personally i feel i get too much from XSI (as i’ve said in many of my last replies) and i would like to give back like a 5% every month.

This amount can be used for any kind of “extra” activity that the community decides (or just maintained in a place for the future…). Or maybe given to some social program out there that the community can vote…

The last time i’ve discussed this topic someone was thinking about giving something back in exchange for the donation, but that’s not the point for me. If it’s a donation it’s a donation: you don’t get anything back (otherwise it is not a donation hahaha).

I know in this world made of people searching for money maybe we won’t be so many people doing that, but it’s a start.

I’m feeling like i’m stealing money you know… The last month i’ve earned more than 1000$ just for repliyng to some XIO Social topics…

5 Likes
#2

I would just say if you are earning this much, you likely have a larger holding (i.e. 10%) which could incentivize you to give a charitable donation to a Community Fund. I have been thinking about proposing a Community Board that thinks of ways to best focus on the sustainable growth of the Network. The second solution to is using these funds to stake for community members…Jörno, Kenny, Austin, Dash, Steve, Zord, ect. A third possible solution is for you to be able burn xio…maybe the community can create a burn mechanism that helps with inflation. In the spirit of Bomb, a community deflationary burn mechanism could even “convert” the XIO into the a collection of alts that go into the treasury…truly giving back to the community.

2 Likes
#3

That’s a great idea - expecially considering how Zach mentioned in one of his videos his concerns about devs being underpaid. Donations or even some sort of Tip jar for them would be pretty cool. Could also use donations to a Community Fund for additional marketing and getting the word out to folks about XIO - that might attract donations as well. Would be super cool if they could somehow track that, like allow you to track your donations to marketing efforts (for example twitter clicks or whatever) to see what impact your donation had.

1 Like
#4

Uhm… I don’t like the third option (burning of xios)… My idea was that the amount you donate is used for something… If you convert it into for example eth it would be OK, but I think we are pushing xio and not eth… I don’t know… Any other idea?

We can find some charity program and donate to them (I think for ex. Meme did that with the last nft they sold) when we have a nice sum…

We should start and see how many people are donating to know what is the money we have every month on average…

#5

We have discussed using funds for charity many times on telegram and was going to edit my post about the possible use for non-profits voted on my the community. Or even just community based projects. This could expand the reach of the community.

On my second point, rather than just giving it back, it can actually be a mechanism that helps take xio out of existence…it would not simply sell…but sell and decrease the supply there combating deflation. The user gets a new coin and xio becomes more valuable, or at least in theory, in the process. This is just an altered version of Flashstaking.

1 Like
#6

Always appreciate if people show their social motives.
Regarding donations you are fortunately already at liberty to do with your tokens as you please. If you would like to give a share back of your earnings just ask someone for their address.

I definitely support making an easy option available. :slight_smile:

Problem is that value, price, greed are highly subjective notions. Does it sound strange that you got rewarded 1000USD for social comments, to me yes. But I also trust the payer that they deem this appropriate. In some cultures it is offensive to say no thank you to a reward.

And once can also consider that paying back could not be the most efficient use of your assets. For instance you could assume that you are really good at allocating resources and therefore delay a donation until you amassed an amount that makes an impact. Bill Gates would never have ended up where he is now had he not been a tough business man earlier on.

I also like this idea

it’s a simple direct measure for the gain of every citizen.

Anyways, nice idea and I would be happy to see an easy donation function for devs, projects and other good causes.

#7

Yes, one can always decide what to do with his money or tokens in this case.

An automatic donation percentage function would be perfect to make this automatic if somebody wants to donate some xios.

I think a social part for xio would be good (some kind of xio foundation…)

1 Like
#8

Glad to see somebody took the time to create a post for this topic.

This could be one option yes, but maybe a easier way to set this up would be via the XIO Portal functions? Basicaly - stake in the “donations portal” and the ones driving this charity pool/portal will be free to use that donation as they see fit.

1 Like
#9

Yes, but my vision was more “automatic”… Like “I want to donate a 5% of each xsi or xlp earnings that I make”…

We can do both I suppose… Something manual (staking) and something automatic…