Do You Still Use the 'Palnet' Tag on Your Posts?
I had a wake-up call a couple of days ago - or maybe it's over a week already - when I read in a news report (I think it was BRO's) something about the restructured reward distribution which happened on the Palnet tribe.
I admit I haven't been paying attention to what happened over there. But being an early tribe which supported general content, I kept including the tag, although I noticed for a while I received close to no PAL rewards for doing so. Now I have the explanation for that: author + curation rewards account for only 5% of the daily reward pool on Palnet.
The decision to update their whitepaper was communicated quite some time ago, in January 2021, through the @MinnowSupport account. Here it is:
Over there we find this fragment:
Distribution: Staking: 30% Mining: 60% PoMod: 5% PoB: 5%
Curiously, all my PAL is staked, but probably my 2k PAL is so small by comparison with the whales on the platform that the stake rewards are close to nothing as well.
Anyway, looks like the Palnet tribe moved towards a high incentivization of the miners, with 60% of the reward pool. Stakers receive half of that, and the remaining 10% is split equally between the moderators and the proof-of-brain rewards (i.e. author and curators rewards). Obviously the focus will stop being on the latter.
In my case the changes don't seem to work out well. At least not right now. But it's true something needed to change, because Palnet was dying slowly, without any serious update since launch, if I'm not mistaken.
Will these changes and the move towards a predictive market (Neal McSpadden talked about it a couple of times) be the future of Palnet? Well, I guess we will see.
Did you know about these changes and do you still use the 'palnet' tag on your posts?
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