Firo

<p>Through Firo’s governance process, Firo’s emission and block reward division has been finalized! A huge thank you to everyone who voted and shared their thoughts and feedback.</p><p>Through several rounds of polls, the community has decided on the implementation of three things to Firo’s tokenomics:</p><ul><li>A fixed emission of 6.25 FIRO/block until the cap of 21.4 million FIRO is hit</li><li>A tail emission of 1 FIRO/block thereafter</li><li>A block reward division of 70% Masternodes, 5% Miners, 15% Dev, 10% Community</li></ul><p>For a more accurate reflection of community sentiment, we employed a system known as <a href="https://www.youtube.com/watch?v&#61;3Y3jE3B8HsE" rel="noopener noreferrer nofollow">ranked-choice voting or instant run-off</a>. This system allowed voters to select multiple choices and then rank them in order of preference, ensuring that the final decision better represents the community’s preferences.</p><h2 id="header-0">Effect of Changes</h2><p>The primary effect of the changes is to provide improved incentives for masternodes for the next 4 years, recognizing their continued role and unwavering support of the network. Miners will still contribute to the hybrid PoW/masternode consensus mechanism, but while the hashrate adjusts, there may be a period of slow blocks until the difficulty adjusts to the new hashrate. The chain will remain protected against 51% attacks with Firo’s <a href="https://firo.org/2021/01/28/chainlocks-activated-mainnet.html" rel="noopener noreferrer nofollow">masternode chainlocks</a>.</p><p>Once the bootstrap supply of 21.4 million has been fully issued, a tail emission of 1 FIRO/block will continue ensuring a continued stable security subsidy. To read more about the effects of tail emission and how it leads to a stable monetary supply that is neither inflationary nor deflationary, you can read this <a href="https://petertodd.org/2022/surprisingly-tail-emission-is-not-inflationary" rel="noopener noreferrer nofollow">article</a>.</p><h2 id="header-1">Future Direction</h2><p>The core team is making a firm commitment not to propose further changes to Firo’s tokenomics until tail emission is hit. This commitment is aimed at providing stability and certainty to the Firo community, ensuring a secure and confident future.</p><p>We will be deploying these changes and making an urgent release very soon, as these changes are scheduled to come into force by block 958655.</p><p>In the coming weeks, the core team will also be rolling out an updated roadmap for Firo, laying out development and adoption goals for the next few years. This will also include research into blockchain consensus models that would be secure and sustainable through tail emission and also a renewed focus on increasing awareness and adoption.</p><p>Again, we would like to thank the community members who have stood by the project and taking part in governance to guide Firo’s future.</p>

Firo Finalized Tokenomics Results 2024

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