If I understand the Tokenomics of PRV correctly, what it is currently lacking is a way to get rid of extra PRV and a way to add value to the liquidity pools. Without both of these things, it will be hard to continue to survive. Staking isn’t going to be the only thing we need.
I propose (Creating a monthly membership that a costs a decent amount of PRV)
What you get from this membership:
- Voting Rights
- Some sort consumable token (only created for members) [is tradeable with prv / adds value]
- Hopefully even more perks in the future
Users who payed the membership fee are able to vote on things in the incognito network. Since it costs money to enter we could reward voters with lottery tickets.
Lottery Tickets: These are consumable tokens only generated by voting. There could be a giant pool of money to fund the voters lottery. Lottery winners only win the interest made from the pool. They don’t win the full pool just a large percentage of the interest. Members would be able to sell their lottery tickets to other users instead of using them to enter the lottery. The more lottery tickets you use the higher your chance of wining. This incentivizes voting and could potentially add more value to the liquidity pool.
I added the lottery token, but I feel like we need to continue to try to add more value to the pool. We should also reward members with another token that is only generated every time you buy membership. This token should be consumable so the value spent on the coin (in PRV) by purchasing membership, is locked into the liquidity pool.
- A coin to store data on the network. You can spend it to save a specific amount of data on the network, anything you want. The more coins the more data.
- A coin that can be used to store ethereum collectible assets in the pool. If people want to make their digital collectible assets private, they are going to need to use this coin to do so. This will also give the ability to create an asset marketplace.
- Maybe even a Level up/Reward system. You get a coin every time you pay the membership fee. You can spend coins on leveling up your account, it costs exponentially more to get to the next level. Why would you want to be a high level? Idk, maybe you get more voting power the higher your level is, or you get more lottery tokens for every vote. Since the coin would be tradable, it will give reason to buy membership, and eventually add the value once consumed.
If the value of the consumable coin goes up, then more people will buy membership burning PRV coins to sell them. Which will lower the price of the consumables.
I couldn’t think of many. Hopefully you guys have better ideas. I was just brainstorming. I think having the membership system in place would be helpful to the network. I also think an interest lotto would be cool for members/voters.
A monthly member generated consumable token could add extra liquidity to the pools. It keeps the coin scarce which keeps the price high, adding liquidity when consumed and rewarding members when traded.
What are your thoughts on this?