Tue, Oct 2, 2018 9:00 AM
There has been a lot of discussion lately in the circles of delegates about how to incentivize people to contribute more and make being a delegate financially sustainable as the price of ARK has slowly gone down over the last few months by quite a substantial amount.
A few months ago being a delegate was a lot easier as ARK was somewhat stable at around 2.5-3$ which meant you could pay all your ARK related bills while still being able to skip a few work days and spend that time on ARK without making any financial loss. As time went on the price went down and people started to spend less and less time on ARK because it just wasn't sustainable anymore to sacrifice worktime which was brought up during the last week when the network staled for almost 24 hours.
The network stalled and was only able to recover because Moon from biz_classic spun up hundreds of relays to force consensus which showed that the network needs more relays to function stable and be able to recover on its own. Relays come at a cost and if delegates start to spend more on relays out of their own pocket they will be left with 0 pay for their work at the end of the month or even go out negative which will just make the mood even worse and ultimately bring people to the point of leaving.
A few delegates lowered their share to 75% and contribute 5% to the ACF which is supposed to incentivize people to run relays and I support the idea. I will occasionally send a donation to the ACF for relays but not on a regular schedule.
I will be lowering the share to 80% until the ARK price stabilises again so that I will be able to spend more time on ARK and ARK projects.
The projects I will spend the most time on are of course arkx.io, delegates.arkx.io and an upcoming application at forgery.app which is in the works but hasn't received too much attention due to the ARK price not allow me to spend as much time on ARK as I would like to. Another bunch will be to develop and maintain https://github.com/faustbrian?utf8=%E2%9C%93&tab=repositories&q=ark&type=&language= to make sure they are ready and stable when Core v2 hits mainnet.
Regarding where the money goes, there are quite a few things which currently leaves me with very little return after paying those bills and taxes. A small list can be found below that includes some of the monthly cost but not all, excluding work hours spent on ARK.
All of those costs vary per month and have left me for the past few months with very little reward for my time invested after paying those bills and taxes, which is the same case for various other delegates and resulted in a few delegates already lowering their share.
Another change coming is that we will switch to daily payouts and will cover all transaction fees. Those changes will be made within the next 24 hours so a small downtime of 5 minutes might be possible. I will also continue work on https://delegates.arkx.io/ this week to iron out some things and make some instructions more clear.
Please keep in mind that the lowered share is only temporarily until the ARK price stabilises to a level where all bills can be paid and a reward for my effort and contributions is still left at the end of the day. I hope my supporters of the last year understand this change and support me so I can continue to contribute to the Ark Ecosystem like I have been doing for the past year.