Emmoglu Services, Accounting and Community
As we already stated and drafted in our value proposal, our goal is to foster a community around Radix and Emmoglu Stakery with the purpose of driving Radix ecosystem forward. In this post we give more details on that.
We’ll be running:
- One validator node on mainnet.
- One fullnode on mainnet for failover.
- One archive node on mainnet.
- One (or two) stokenet nodes.
And we’ll also be providing additional services on radixscan.io so that you will be able to see your wallet stake history. This service is not in its final form. Currently it displays only your stake history in our node. In the future, we will provide info on all your validators staked in a csv that can be accepted by Koinly to make easier for you to do your taxes. Some more thought has to go into this, though, it’s not 100% ready.
Emmoglu Stakery will start mainnet with a
3.69% 3.06% fee. We do intend to never raise this fee, but eventually depending on Radix price, amount staked at Emmoglu, and special ecosystem events we can lower it in small steps (or multiples) of 0.09%. Why those numbers? Well, it must be actually obvious at this point that we are obcessed about 3, 6, 9s and specially 36. It’s ok, you can call me superstitious 😅 (by the way this is the title of one of the bests songs of mankind’s musical history).
We also think it’s better not to start low and then raise it, but the other way around, so we accumulate when APY is higher and soften the fee burden when it drops.
Whatever income we get from fees, after costs payed, we’ll allocate in the following way:
- 20% to Emmoglu Community Fund
- 30% to Emmoglu Cash Flow Reserve Fund
- Whatever is left is split between Leo and Michael.
Emmoglu Community Fund
This fund will be used to raise awareness towards Radix, further help foster Radix user base (like gleam campaigns) and ecosystem (like bounty tasks), attract new stakers to Emmoglu Stakery (like airdrops - if we’re stil not above a decent ranking), and can also be used in ways that makes our clients happy as well, like monthly lotteries and special promotions.
To know the best way to use this fund, though, we would love more community engagement, so far we’re a bit frustrated we didn’t got a good engagement neither in Discord or Telegram 😒. We’re not very active at Reddit but we’ll try taking a look there once in a while and alsdo push our blog posts/news announcement there.
Emmoglu Cash Flow Reserve
This fund is a reserve for the business, to antecipate costs through discounted reservations, to prepare for bear markets, to grow the business with ads, etc. If that savings account grows too much, additional distributions to the Community Fund may occur, or we can also use that money to incorporate into an “All Radix related” startup in the future and hire additional work.
Cloud or no Cloud Update
Speaking about incorporation, I did some research and seems incorporating here in Brazil is not a good idea, at least at first, as it will overburden Leo with bureaucracy and increased taxes. So, for now, cloud is the only possible path to have this huge country represented in the Radix Network of validators.