Profit share method vote

This vote is to decide what method we use for profit share WHEN the time is right. It seems the thoughts of the community is that this will be in the future when profits are large enough to be enticing.

But for now this is just to decide the method of verification we use of the wallets to do the share and what we will go with. On-chain vs Off -chain.

Off Chain vs On Chain Rewards Explained

On Chain

If we want to handle rewards in the traditional way using a rewards contract on the blockchain users would need to stake Shibvinci tokens in the new rewards contract. If we didn’t do this we would have to query each holders balance one by one, which would cost so much in gas that it would eat up any potential rewards.

There’s also a 10% tax on all token transfers so it would cost users 10% to stake and 10% to unstake. We can’t remove this now the contract has been renounced.

Off Chain

We can perform verification actions off chain using a javascript server without having to pay any gas.

So this would allow holders to simply “opt in” to rewards and our server could check all opted-in users shiv balance and update each holders rewards balance without us loosing rewards on gas fees.

Holders would NOT have to stake tokens using this method so no taxes would be paid incurred.

What makes this “off chain” is the fact that it would be our own server that users opt in to which then varieties the users.

From a user experience there would be no noticeable difference.