LikeCoin chain Proposal #5 - Increase the inflation rate from 1% to 2%


Since the LikeCoin chain was first launched on Nov 15 2019, the inflation rate of LikeCoin has been set to be 1%. 

Meanwhile, the percentage of delegated LikeCoin is below 50% (49.89% as of Oct 5 2020), which is significantly lower than the idea threshold of 67%. On the other hand, with the passed Proposal #3, more and more validators are joining and thus on average each validator is getting less delegated LikeCoin. We thus propose to increase the inflation rate of LikeCoin from 1% to 2% to increase the incentive to delegate LikeCoin.


To increase the inflation rate from 1% to 2%

Expected results

If the proposal is passed:

  1. The number of delegated LikeCoin will be increased.
  2. The reward to validators will be increased, balancing the effect of increased number of validators.
  3. The reward to stakeholders with their LikeCoin delegated will be increased.
  4. The dilution effect by inflation to undelegated LikeCoin will be increased.  
  5. The number of migrated LikeCoin may be increased.