It is with great excitement that we announce the unanimous approval of the Network Treasury and Inflation Adjustments proposal (ID #25). The proposal received a resounding 100% approval rate (75% required) with a strong quorum of 63.2% (20% required)!
Dr. Kapil Amarasinghe
This is nothing short of a mandate from the community, and we are moving forward immediately. The team will prepare a mandatory Particl Core update that will trigger a hardfork to:
- Reduce the annual inflation rate from 6% to 3.5%,
- Eliminate the automated staking reward allocation to the network treasury.
Keep an eye on Particl News and other Particl communications mediums for the release of this new Particl Core version.
Healthier Economics, Higher Rewards
This change marks a significant step forward for the Particl network's long-term health. In practice, it means that the network's inflation rate will reduce from 6% to 3.5% while the guaranteed annual staking interest for stakers will increase from 3% to 3.5% for the next year. After that, the coin emission rate will reduce by 0.5% every year until it stabilizes, after 5 years, at a sustainable 1% annually.
This establishes a more balanced and robust economic model, making the network prime for the exciting developments ahead.
Our Vision: A Universal, Private Economy
While our current development focus is entirely on BasicSwap DEX, our foundational goal remains unchanged: to build a private and sovereign digital economy with decentralized eCommerce at its core.
As such, our work on BasicSwap is a strategic and vital step toward that vision. We learned from the initial launch of the Particl Marketplace that requiring the use of PART was a significant barrier to adoption. To build a truly global platform, we must build bridges, not walls, and the marketplace needs to accommodate a multitude of coins.
This is BasicSwap's primary role within the Particl ecosystem; it is the bridge.
Building Smarter: How BasicSwap Will Power the New Marketplace
Some might see our focus on BasicSwap and think development on the marketplace has paused. In reality, the opposite is true: the work we're doing on BasicSwap is the direct foundation for the next generation of the Particl Marketplace.
Indeed, we plan on building a completely new and re-imagined marketplace codebase that will be more modern, user-friendly, and accessible. Having learned from the challenges of the first version and from what made other cryptocurrency platforms successful from an adoption point of view, we're designing this new iteration with mass adoption in mind.
A lot of the components we build for BasicSwap are modular pieces intended for the new marketplace. For example, our collaboration with the Litecoin Foundation is leading us to build a web and mobile-friendly architecture for BasicSwap that relies on light wallets and doesn't require you to run any software locally. This system, sometimes known to as the "web gateway" within the Particl community, is the foundation that will allow us to deploy the Particl Marketplace on mobile and web, removing the need for users to run a full node or install the marketplace locally.
This is just one example of how our current efforts are designed to directly benefit the Particl ecosystem, creating a more seamless, powerful, yet intuitive marketplace experience where users can even check out with coins like Monero.
The Future Role of PART: Value-Added Features
You might be asking: "If PART isn't required to use the marketplace, what is its purpose?"
Without going into too much details at this point, we are moving to an "added value" model. Using the marketplace will be free and open to all, with no requirement to use PART at all. This is necessary for any kind of broader levels of adoption.
However, the usage Particl within the marketplace will unlock premium features and advanced capabilities, some of which are only possible due to Particl's inherent technology. Think of it like powerful software that's free to use but offers advanced tools for a fee.
These features could include:
- Advanced MAD escrow options and premium functionalities on the marketplace,
- Use of Particl's Confidential Tokens (CTs),
- Bridges to other blockchains or access to BasicSwap network portals,
- Etc.
Revenue can then be used to benefit the entire network via a combination of redirecting fees to stakers, using them for funding operations, or permanently burning them for deflationary purposes (which combines well with the new lower inflation rate triggered by the approval of proposal ID #25), depending on the source.
This strategy allows the platform to attract the widest possible crypto audience, giving them a desperately needed way to exchange crypto for tangible goods without middlemen, and simulataneously eliminating the friction of forcing a native token while still creating powerful but non-intrusive incentives to use PART for those who want the best experience.
What's Next?
We are keeping the specific roadmap for the new marketplace under wraps while we focus on moving BasicSwap out of Beta. This isn't to be vague, but to ensure we deliver a polished, high-quality foundation before revealing the exciting details that come after this current development phase.
For now, we invite you to try BasicSwap, provide feedback, and help us spread the word. Its success is instrumental to reviving development and interest in the new and improved Particl Marketplace.
Thank You!
We want to extend a heartfelt thank you to our active staking community and the broader Particl community for participating in this vote with such a convincing result. We are energized by your approval and look forward to more community proposals in the future.
Your commitment to the vision and your continued support drive us forward. Nothing would be possible without you.
- The Particl Team
The Open-Source Revolution
We're on a mission to create a private, independent, and pro-liberty digital economy that is fair and open to all. Learn more about what we do at any of the following links.
Be a part of the movement and join us in the fight for our freedoms by meeting the community and spreading the word far and wide!
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