Through the governance process, Firo has finalized new emission rules and block reward distributions. A huge thank you to everyone who voted and shared their thoughts and feedback.
Approved Changes
The Firo community has approved three main changes to the tokenomics: * A fixed emission of 6.25 FIRO/block until the cap of 21.4 million FIRO is hit * A tail emission of 1 FIRO/block thereafter * A block reward division of 70% Masternodes, 5% Miners, 15% Dev, 10% Community To better reflect community sentiment, a ranked-choice voting system was employed, ensuring the final decision accurately represents the community's preferences.
Effect of Changes
The primary effect of the changes is to provide improved incentives for masternodes over the next 4 years, acknowledging their ongoing role and unwavering support of the network. Miners will continue to contribute to the hybrid PoW/masternode consensus mechanism, but there may be a period of slow blocks until the difficulty adjusts. The network will remain protected against 51% attacks with Firo’s masternode chainlocks. Once the bootstrap supply of 21.4 million FIRO has been fully issued, a tail emission of 1 FIRO/block will continue ensuring a stable security subsidy.
Future Direction
The core team has committed not to propose further changes to Firo’s tokenomics until tail emission is hit. This commitment aims to provide stability and certainty to the Firo community. In the near future, an urgent release will be deployed as the changes are set to take effect by block 958655. The team will also roll out an updated roadmap, outlining development and adoption goals for the coming years.
The Firo team extends their gratitude to all community members who have supported the project and participated in the governance process, helping to guide Firo's future.
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