Application Type: Staking And creating node
Application amount: Dynamic (Initially set to 20k + 500k)
Payment times: Dynamic
Wallet address: Nse1VAxNoGphtGiQHdUhLBtd8MnuCJ8h
Vote support rate: 70%
Due to the recent entire crypto market crash, members of CCC were receiving less than a third of the fiat income they were on two months ago. This is a real concern for myself and other CCC members which we all rely on the NULS rewards as an income.
CCC Developer Introduction
My name is Mario B. known by Berzeck in the community, I am a software engineer with more than 15 years of experience designing and implementing complex systems, my prefered development language is C++.
Back in June 2018 I was attracted to NULS project not only because the technology it had but the whole machinery it is building around it that allows to adapt and evolve faster than any other blockchain.
In August 2018 I proposed to change the architecture of Nuls to a new one based on microservices that would allow among other things to develop systems around NULS a lot easier without development language constraints, Nulstar project was born, Nulstar was received with great enthusiasm by core team and it was decided it would be the base for NULS 2.0.
Nulstar project will allow to build complex systems like exchanges, bet sites, etc. easier than anything we have seen in crypto world, and all these systems will be able to talk each other seamlessly therefore making a huge positive impact to NULS ecosystem.
Also, as a founding member, with others, we did lay up the foundations of the CCC.
In November 2018 I resigned from my job so I could dedicate all my time to NULS, so my only income source is the rewards generated by my CCC node.
Standard Payout System
The reward payout for CCC members are nodes sponsored by NULS with 50% commission for part time developers, and full time members receiving 100% commission. This is around 1,653 NULS with 50% commission and 3,306 NULS with 100% commission.
As I am a full time developer I was receiving a little around 3,306 NULS per month, considering 16% tax rate in my country plus 8%-9% for bank fees then the net amount becomes 2506 NULS, and this not considering that the amount of NULS staked tend to increase over time which will further decrease the monthly NULS rewards.
At today's market value NULS is priced at $0.36, this results in my developers monthly salary being $1,190 before tax, and $902 after tax.
This is unsustainable livable income and a real concern for both maintaining and attracting developers within CCC for working on NULS.
Emergency Temporal Solution
Thankfully Core Team acknowledged this situation and filled my node temporarily to 520000.
Proposed Solution: Higher Node Reward Output
Our proposed solution, a higher node reward output while prices are low, will allow for NULS price to fluctuate in value while still being able to pay CCC members a somewhat fair reward for their work. This will ensure CCC developers are able to work both part time and more importantly full time without having to worry about their finances.
At the end of each period (which can vary from one to three months) the average price of NULS will be evaluated and this figure will be used to ensure CCC members are receiving a fair fiat value output. As the fiat value of NULS changes, as will the staking amount inside CCC members nodes, this manages the reward output for CCC nodes.
The formula to be used would be: N = -300000 P + 680000
Where P is the average price of NULS in the period and N the total amount of NULS staked
The idea is that the total number of NULS staked in my node should always equal or higher than N at any point of time. Note that 220000 NULS should be the minimum amount to be staked.
Example values in the table below:
The NULS used to create, deposit and stake CCC nodes comes from the community fund. These NULS are never in the hands of CCC, NULS Foundation them and CCC members only receive the output reward from their nodes.
When the staking amount is changed or a CCC member leaves, the funds are returned back to the community pot. With this, the community funds are never actually spent during this process. In fact, the community fund will grow. CCC members commission rates are set at 50% and 100% for part time and full time members respectively. What this means is 50% of the node rewards from part time members will go back into the community funds. For example, if a developer is earning $2,000/month from their node, then another $2,000/month is earned for the community fund.
This proposal is to request your vote to support the keeping the current staked amount in my node. Again, the amount staked belongs to the community, but allows my node to earn more rewards to help compensate me for my full-time work. As a temporary solution, core team has already increased the staked amount of my node, but still this proposal needs to formally go through voting process and to keep this staked amount, I ask that you vote “Yes” on my proposal, otherwise I will receive a pay cut!
Thank you in advance for your support people!!!