Proposal to lower the monthly rewards cap for XSI

XIO recently introduced a $1000 cap on monthly rewards thru the XSI scheme, but I think this is too high. I think it should be lowered further, with a cap in the region of $250 per month.

Thoughts?

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I am in two minds about this. On one hand I think it’s a good idea and it allows us to slash the max rewards for XSI, without a lot of rework. We can still keep the 10/5/2,5% system, but also make sure we don’t pay out too much XIO.
On the other hand it feels pretty rough to cut someone’s reward so much. I mean the people who get more than 1000$ in XSI per month must own at minimum 10000$ of XIO. So clearly they are invested in the project and care about it. Do we wanna cut of their reward so much with less than a month notice?
I would suggest maybe gradual change towards it.
Also i would be interested to know how much XIO we saved by capping to 1000$ and how much we would save (approximately) by going to 250$.

I would agree. As much as I like high rewards, I can’t really justify receiving even $1000 for merely interacting and contributing to a forum. $1000 is a monthly salary in many parts of the world. $250 seems more appropriate as a cap. even at $25/hr, that’s 10hrs worth of contribution per month, which seems about right for the most engaged citizens. $1000 is very tempting though, so could push people to contribute and hodl who otherwise wouldn’t.

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one step at a time. we cannot simply slash it 80% (for some people) in 1 time. that would be counterproductive…

at least we can see how it works for 2/3 months…

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I think we should reassess the situation in a few months. I see no reason why we should change the structure so soon…

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Initially when i read about the limit to $1000 in XSI rewards, I thought it was across the board, as in $1000 would be the total amount shared among all participants, which i was kind of excited about because I am curious to see how people partake in the social programmes when there is less to gain in an immediate reward sense, I’m a big fan of the community discussion here and im curious to what degree its inspired by the reward structure.

I dont know how many community members were receiving more than $1000 in rewards for XSI monthly, but thats a huge reward in my opinion, not that i begrudge it to any community members, I received a nice reward for the XSI this month, and i’m super happy to get it, but i dont think that what i gave in terms of opinion justified what i got back. I think lower rewards are acceptable for sure. I would happily spend some time here sharing thoughts and feedback without incentivisation, as someone planning to hold XIO for the long term i naturally feel incentivised by that alone. If the community were to take the rewards and add to the XLP as i did in this case, then thats a benefit for the project going forward, I wont always have the eth to do that, but assuming i am not stuck for cash, i wont be selling any rewards i receive.

I’m ranting here, but long story short, I wouldnt be troubled by seeing the reward cap reduced further in the coming months, for the sake of saving funds for allocation elsewhere. Up to $250 a month in time still seems like a great potential monthly reward in my opinion.

XID-AF60F

I doubt people would bother for that little.
It seems way too low.
You have to keep in mind that if you want to be in the top ten, to get 10%, you have to put in serious time and effort.

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Maybe the right solution is to give ETH or DAI instead of XIO for XSI. In this way we can avoid dumpers and maybe we can get more buyer

That statement could make some pretty good viral marketing to raise awareness of XIO.

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Or a sixth of a normal salary, depending on where you live.
I do not know that it says that much without context.

True, depends on where you live.
So statement may not be accurate for all.

For the near future better to keep the monthly rewards cap for XSI the way it is now. Best not to have too many changes in a short period of time.

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I think that instead of lowering the cap we should just have a “diminishing returns” style of rewards.

Something o nthe lines of this:

1000 xio hodled; 10% reward
10.000 xio hodled: 7% rewards
25000 xio hodled: 5% rewards
50000 xio hodled: 4% rewards
80000 xio hodled: 3% rewards

And so on

Of course my numbers are made up, but this is just to give you an idea

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$250 monthly cap is too little. I would not make any effort to provide feedback for 250 dollars per month.
I was one of the people who were receiving crazy high XSI rewards (thousands of dollars ). I was highly anticipating the 1000 USD cap, because such rewards were not healthy for the ecosystem. But reducing it further down to 250 USD is horrible idea, 250 USD is too little, many people will lose interest in the project and will dump their tokens right away.
XID- 930ed

I think we are in the testing process so the team would not to rush and slash it down too fast.

1000$ a sixth of a normal salary? maybe in luxemburg or switzerland… in 99,9999% of the world is much more than average salary or just average…

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I do not think you know how much 99,9999% of the world makes up=)

A person working in United States typically earns around 94,700 USD per year
-Average Salary in United States 2021 - The Complete Guide

that is with taxes… net is half and here we are talking about net. i’m living in spain for example, and in this chart (Average income around the world) i can see that our average is 2533$… that number is what a company pays for you monthly in total. but you see approx. 1200$ (1100€) of that sum.

based on that chart i can say that only 30 countries have at least an average of 1000$ per month.

and i suppose this is for 40 hours a week, 4 weeks per month… here we are talking about 4 hours a month? maybe 6?.. not comparable at all…

obviously 99,99% was to exaggerate…

Well this is also before taxes, which you have to pay in most countries.

I think this conversation might be getting a little off-topic… I don’t think it really matters whether the amount you receive is higher than or lower than a monthly salary. There are many places around the world where it would be higher than or lower than a monthly salary. The real question here is whether it’s worth paying out up to $1,000 to those members who are actively participating - I would argue the answer to this is yes, for sure!

The XIO liquidity providers are currently doing nothing at all and they make significant returns on a monthly basis just because they hold XIO. I think we should at least wait a few months and revaluate but I believe this is a fair number unless we are looking to turn down all the rewards - as in all the different ways you can earn XIO.

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