CIP-12: Nodes Begone

Summary

The holders of Captain & Company tokens (the “Tokenholders”) propose the below changes to the function of nodes and further $CNC token emissions.

This choice will entirely eliminate ongoing costs associated with node operation, and cease any further node emission dilution of $CNC tokens.

Proposal: Deprecate Nodes

The entire infrastructure related to Captain & Company nodes found on Abstract at contract address 0x0fdf60a3d8720318e8860649208dad36fb94fbca will be deprecated. Specifically:

• Nodes will no longer emit $CNC
• Any webpages supporting node management will be removed
• All mentions of nodes will be removed
• Redeploy $CNC staking on Ethereum
• Begin regular community polling using tokens & staked tokens on Ethereum

Rationale

Node holders and pool operators have complained regarding ongoing operations costs exceeding the market value of produced tokens. Removing these infrastructure costs and simultaneously culling all future $CNC emissions from nodes will serve to fix the total supply of $CNC at the amount it is at when the plug is pulled.

From a general scarcity perspective, this makes each $CNC token meaningfully more scarce, and certain users therefore may assign a different value to $CNC tokens.

Implications

• Node operators would no longer need to pay third-party infrastructure providers, e.g. AWS or NodeOps
• Node management pages would no longer be accessible
• $CNC tokens would cease to be emitted
• $CNC staking would be redeployed on Ethereum
• Community polls would be easier to run and use Ethereum staked $CNC and Ethereum spot balances of $CNC

Options

1. Deprecate Nodes
2. Reject

Test Cases

n/a

Whitepaper

https://docs.capnco.gg

Copyright

Copyright and related rights waived via CC0. https://creativecommons.org/publicdomain/zero/1.0/