Announcement about PAL token changes!

in Palnet5 months ago

We have some exciting new changes coming to the PAL token that should make those of you that have been accumulating over the past 2 years very happy! We will be cutting inflation by 75% going forward, we will also be putting a much heavier emphasis on staking and mining, and we should also see the first dApp that will be using the PAL token exclusively release within the next week or so.

In simple terms this means:

  • The number of tokens being issued per block is being reduced
  • PAL rewards allocated to blogging are reduced
  • Miners will be allocated more PAL
  • New incentives for staking PAL

There are a few reasons we have decided to change the distribution model. When we launched PAL token we were the first tribe and had no idea what type of eco-system would develop. There are now plenty of niche tribes for blogging that have a distinct purpose. Palnet is a community and not a niche topic, so while allocating such a large percentage of rewards towards blogging has been a fantastic opportunity for distribution, we feel it no longer makes sense. Our initial idea of developing a specialized front end has become increasingly unnecessary due to the fantastic work of integrating tribes and communities by the Peakd team.

We have been evaluating all these developments and feel it's now time to increase rewards for those who have invested in the PAL token!


Over the next week you can expect to see a revamped whitepaper to reflect the post-distribution phase of PAL’s new changes. There will also be an announcement about a cool new dApp for the HIVE ecosystem that will not only give incentives for holding PAL, but also offer opportunities for PAL holders to grow their stake in multiple ways while adding significant utility to the token and a new tool unique to the HIVE blockchain.

It’s taken a while to get the token distributed as fairly and freely as we could and of course developing new dApps takes time, but hopefully you have been hanging in there and collecting your PAL tokens. Over the next couple of weeks, things are going to get a lot more interesting. Thanks for being a part of our community and happy HODLing!

As always feel free to hop into the PALnet discord if you have any questions!

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GO PAL!

sweet I haven’t sold a single PAL since it launched here’s hoping I made a good choice

Sweet congratulations on getting to another level!!!! Great job!

Looking forward to good token economics for PAL.. have been HOlding PAL for a long time.. cheers

Might PAL will do something that I will not regret buying it.

awesome news are awesome!

If it's for improvement I'm in.

Finally good news for the PAL Holders, lucky me
😀

Good to see new use cases brought to half-dead coins! Gives me hope for Hive 2021!

 5 months ago 

PAL has has always been to help minnows. It was given away via airdrops and claimdrops, and for over 2 years there was ample opportunity that allowed everyone to get their hands on it either by participating on the palnet tag or by buying it very cheaply off the market.

There are a lot of token distribution mechanisms, none of them perfect, but this seems to have been the best in an imperfect world.

Yes. Always thought it wise to hold onto the initial airdrop and keep stacking. Good news all round and way to go.

I can say that I'm more than interested.
And there's one thing, a tribe, community should act, should try new approaches, some will fail, some will succeed, some will even change the whole hive

Happy to see some movement on this token. I've been staking since the start and was starting to wonder if it was forgotten about like some others.

Guess I'll just hold on to my PAL for a little while longer then 😁

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Check out the last post from @hivebuzz:

Next Hive Power Up Day is February 1st 2021

Turn up that scarcity! Scarcity is good!

I have been accumulating PAL from some time now
Best of luck

New incentives for staking PAL

What might these new incentives be ?