Icx incentive system Idea

I was inspired by the newly proposed Balanced Token Economy.

I think we need a system that locks icx for a certain period of time and gives a higher interest rate.

No additional icx is issued due to this system. Rather, icx is reduced.

It is a system that reduces the interest rate for those who do not lock icx for a certain period to prevent new inflation, and provides a higher interest rate the longer they lock.

In other words, it is an incentive for more contributors.

The fee (burn) for immediate unstaking seems to be good this way.

E.g, Assume that pob locks 1 year icx and receives 1% more annual interest. The pob unstakes immediately after 6 months. Then, When unstaking immediately, a fee of 1% + 1-0.5 (remaining period)% will be burned.

In order to differentiate it from normal staking, additional interest is paid when the period is completed.

If we take the standard of the icx interest rate , Based on the icx token supply economy, the icx lock without loss is 30 days.

I thought about it again.

Locking icx by more people than we thought may not have enough icx to pay extra interest, so we think it’s good to keep this system running smoothly by putting a portion of the immediate unstaking fee as a reserve for those who lock icx right away do.

These are approximate contents and are approximate figures.