[NIP24]: Neblio 2023: Burning of fees and Upgraded Staking

[NeblioTeam]

Proposal Description

The Neblio Team is proposing a fork of the Neblio blockchain to upgrade it with new features and improvements, including a burn TX fee system, upgraded staking reward system, and a brand new furnace wallet.

Proposal Voting Details

Neblio, launched in 2017, is a high-performance blockchain platform designed for enterprise and Industry 4.0 applications and services.

With this proposal, we aim to take Neblio to the next level by introducing:

Fee Burning Proposal One of the key proposals for Neblio is to improve its network scalability and reduce transaction fees by implementing a burning mechanism on the fee of its transactions, similar to what Ethereum offers in its EIP-1559. This mechanism will see the fee on the Neblio network permanently destroyed with each transaction, reducing the overall supply of NEBL tokens, and in turn, increasing the value of remaining tokens. This will also help to stabilise transaction fees and make the network more sustainable.

New Staking Rewards System The crypto market has evolved since Neblio's launch, with new blockchain platforms targeting a general audience for increased adoption. Neblio previously focused on consulting services for enterprises, but this model is now considered obsolete. Our goal is to focus on developing smart contracts and making it easier to develop on Neblio. The economic model of Nebl is outdated and hasn't changed in six years, while the crypto market has seen many advancements. Additionally, we propose increasing staking rewards from 10% to 12%, including a dynamic staking reward system for node operators to determine fees.

The New Furnace (Burn) Wallet We propose the creation of a new Furnace (Burn Address) for Neblio at the time of the fork, to ensure transparency and independence from private keys for our community. The current Furnace wallet, NXsZ1sAz2uHGxYK2rpXRhNfDnHa1NxRy1r, holds approximately 112509067 NEBL and many NTP1 tokens, which is almost 6 times more than the total circulating supply of Neblio. This is not acceptable if a fork were to occur as the private keys may still be accessible by former founding members or third parties. This new Furnace wallet would receive fees burned on every transaction if the proposal is approved.

Other Information

If this proposal is approved, the Neblio team will begin development of the proposed features and, upon completion, will perform a hard fork to enable them. We will inform our community and exchanges of the necessary updates to support the hard fork.

[bpjones101]

How will this affect current projects being developed on the Blockchain that are near completion and ready to launch with NTP1 tokens already established?

[IWantMoreDecred]

I can dig the burn but after much consideration about it, i've come to not really mind so much any more the inflation rate.. so i don't really care so much about it any more. my past proposals about the burn i have lost interest in. i just want to see smart contracts.

definitely NO to the furnace. definitely NO to the increased stake rewards. 10% already beats cardano's fluctuating 2-5%. we are already competitive with a leading blockchain.

Stop trying to attack our furnace. Old neblio team does not have private keys for it. they would have rugged that long ago if they had. This proposal is basically the same piece of crap proposal you made last time.

the only thing in it we want is smart contracts. nothing else. all of us nodes are not going to accept anything else. if we spot an attack on our furnace we will eject you from our community and replace you with a different dev team. nodes rule neblio, not dev teams.

[IWantMoreDecred]

Anyone can develop Neblio's chain. we could have tons of competing dev teams looking to take neblio in different directions. we aren't set to just one "official team". There is no "acquiring of neblio" by a central dev team. You guys don't own it. Nodes collectively own it. All the original team did was set it in motion.. but once nodes decentralized it, it became ours. Dev teams can only propose to do things for the chain. we could have 10 different dev teams all competing to take neblio in 10 different directions.. and the nodes will choose one of, if any, of those paths to accept.

we can also collectively undo anything we make a mistake on, if we choose wrong or take a whole new direction.

dev teams come and go, and there can be bunches at a time.. now think about how idiotic that statement is about the furnace. Imagine if each time we follow a new dev team they want to construct a new furnace again, for fear that the previous team's creation of a furnace has the keys.

So if your argument is that the original devs of neblio might have the private keys to the furnace and could rug us, that means you would have to create a new furnace where now YOU might be holding the private keys of the new furnace.. so then we'd fear you instead rugging us. and if we changed teams again and the next team wants to redo the furnace, then we would then fear that team rugging us from private keys.

No, it's better to just trust that there is no private keys of the first furnace and that the original neblio team did it right. so quit asking. It's not going to happen. There is no threat here. they would have rugged it long ago.

You could say that same exact thing about Ethereum.. "what if vitalik has the private key for the burn address.. he might rug us". what's ethereum going to do? change burn addresses every damn time someone wants to take it a new direction? this is unheard of to change burn addresses. no other chain does that. so why should we? get real. Not going to happen.

[IWantMoreDecred]

I know it's not proposed here, but if your next proposal is to then try to change the supply of neblio so you can hand yourselves from free nebls, like was once talked about, don't even bother with that NIP either... you'll just waste your time and ours. nobody will accept it. investors don't like high-supply chains or shaking up investor's confidence by making supply show up out of nowhere. I've seen other chains do this and it always turns out to be a fail. people don't like being shaken up. You know what people like? slow-n-steady.

If you want more investors to come in. it's simple. Just do smart contracts. Nothing else on-chain. that's it and that's all. then focus all resources on efficiency of wallets, coin-listings and building dapps/games that actually demonstrate what neblio can do. If you don't want to do that part then use some of that "VC" money you claim to have backing of and pay 3rd parties to create some. this would get people USING more and speculating less. Then price will rise because of investors seeing the USE-case fleshing out.

[NeblioTeam]

So if your argument is that the original devs of neblio might have the private keys to the furnace and could rug us, that means you would have to create a new furnace where now YOU might be holding the private keys of the new furnace.. so then we'd fear you instead rugging us. and if we changed teams again and the next team wants to redo the furnace, then we would then fear that team rugging us from private keys.

No, it's better to just trust that there is no private keys of the first furnace and that the original neblio team did it right. so quit asking. It's not going to happen. There is no threat here. they would have rugged it long ago.

You could say that same exact thing about Ethereum.. "what if vitalik has the private key for the burn address.. he might rug us". what's ethereum going to do? change burn addresses every damn time someone wants to take it a new direction? this is unheard of to change burn addresses. no other chain does that. so why should we? get real. Not going to happen.

It can be mathematically proven that it is negligible that anyone knows the private key of the Ethereum burn address.

If we would deploy a new burn address as per this proposal, it would be using the Bitcoin scripting language to remove any trust in the current or future development teams.

This is where the difference with the current furnace address, where trust is needed in the old team, as the coins are guarded by a script with a public key. Simple knowledge of its private key (does anyone have it? No one knows) would allow moving the coins.

Please reconsider your opinion after adding valid mathematical concepts to your logic.

[drvw]

Nobody accepts this . This is a bad suggestion

[IWantMoreDecred]

So if your argument is that the original devs of neblio might have the private keys to the furnace and could rug us, that means you would have to create a new furnace where now YOU might be holding the private keys of the new furnace.. so then we'd fear you instead rugging us. and if we changed teams again and the next team wants to redo the furnace, then we would then fear that team rugging us from private keys. No, it's better to just trust that there is no private keys of the first furnace and that the original neblio team did it right. so quit asking. It's not going to happen. There is no threat here. they would have rugged it long ago. You could say that same exact thing about Ethereum.. "what if vitalik has the private key for the burn address.. he might rug us". what's ethereum going to do? change burn addresses every damn time someone wants to take it a new direction? this is unheard of to change burn addresses. no other chain does that. so why should we? get real. Not going to happen.

It can be mathematically proven that it is negligible that anyone knows the private key of the Ethereum burn address.

If we would deploy a new burn address as per this proposal, it would be using the Bitcoin scripting language to remove any trust in the current or future development teams.

This is where the difference with the current furnace address, where trust is needed in the old team, as the coins are guarded by a script with a public key. Simple knowledge of its private key (does anyone have it? No one knows) would allow moving the coins.

Please reconsider your opinion after adding valid mathematical concepts to your logic.

neblio is already based off of bitcoin/litecoin. "trust" has already been removed from the equation with the first furnace. you should know this. neblio's furnace is every bit as secure as ethereum's burn address. they are junk addresses nobody can access.

if you are going to say that "smart contracts" depend on it changing to use as bait, i'll have you know that the original neblio team was also working on smart contracts.. not once did they ever say "oh yeah, btw, we'll have to change the furnace address after". furnace affects nothing.

The only reason neblio team did not finish development of the smart contracts is because they were starting to think it was better to just rely on the restfulAPIs, since they are much more efficient way to achieve same results. in many ways they are more powerful and causes less bloat on-chain. So when i say i will accept smart contracts, i do so only because i see too many people, who don't know how to use rAPIs are whining about it not having them. so my feelings are mixed because i know it will inflate the chain, but a lot of devs seem to want them.. so we got no choice about that part.

You know who i trust? original Neblio team. I know where they live. I know all about them. i've had long discussions with them. But you guys, i don't know you. So if the original team told me furnace is untouchable, i believe them. They're not likely to screw me over because i could have them in prison. they don't have any more edge than vitalik has over his own burn furnace of ethereum.

[sebge-1]

How about unbundling these proposals? For example separating the fee burning proposal from the furnace question. Conceivably some folks might only want one and not the other, and bucketing three unrelated changes into one proposal dilutes some of that feedback.

[Jake2270]

Sorry but as a long term holder I trusted the old team but from what I seen of (whoever you guys even are) you, you have been pushing fake news about game company partnerships and attending conferences and none of it looks to have even happened. Also seen today that you boast about pump and dumps happening on NEBL as well as on other chains! Seen that you guys were behind some scam token TCT which Binance Delisted last October. I've seen this name as a CEO and Admin of Neblio also linked to pump and dump groups.

I supported the old team and they didn't rug, can't say the same about you. But I suspect you may own a lot of the supply after buying the bottom, so can probably swing the vote yourselves but I'm voting AGAINST this proposal simply down to your reputation. We don't know you and we don't trust you. Simple.

[bpjones101]

I certainly prefer restFul API over Smart Contracts. Certainly more straight forward to work with.

[IWantMoreDecred]

How about unbundling these proposals? For example separating the fee burning proposal from the furnace question. Conceivably some folks might only want one and not the other, and bucketing three unrelated changes into one proposal dilutes some of that feedback.

yeah. they are doing that on purpose because they are trying to trojan-horse what they really want.. the nebl's in that burn address. so they will promise the moon to get it. just like typical Democrats in usa government who create these enormous pork-barrel crap bundled in that nobody wants and then put a few good things in there to use as bait.

[Jake2270]

I dont trust them with any proposal. Saw this posted online about this team. It doesn't fill me with confidence, put it that way.

https://telegra.ph/Neblio-Is-Controlled-by-Russian-Criminals-Connected-to-Binance-11-11

https://www.bitchute.com/video/SIn104QjdiW5/

[IWantMoreDecred]

I dont trust them with any proposal. Saw this posted online about this team. It doesn't fill me with confidence, put it that way.

https://telegra.ph/Neblio-Is-Controlled-by-Russian-Criminals-Connected-to-Binance-11-11

https://www.bitchute.com/video/SIn104QjdiW5/

i don't trust that news either. i think that's just done by LUNC supporters who are trying to keep NEBL down. They really don't know anything about the team and are jumping to conclusions.

whether or not they are right, the moment they asked to touch burn address or change supply in their prior neblio 2.0 proposal that failed, i immediately considered them a threat looking to hurt us.

that burn address is worth over 100mil $ of nebl that is lost forever and we must make sure it stays that way.

so if they put out any wallet updates, inspect it for malicious code. if you can't read code. just don't upgrade it. nodes can hold out running the same old node software for years and let them waste their time. our chain works great as it is. It's not like original neblio team left us in limbo with a badly operating chain that needed major things. they left it at a time when it is really solid. we can hold out and accept nothing if we want and just hopefully find a new team.

all this current team has control over is our social media accounts and maybe the nebl website. they can either give them back to community or old neblio team or give them to a new team.. or, if they don't want to cooperate, if we get a new team we trust to come in, they can just create new social media accounts and we'll tell Coinmarketcap, binance, coingecko and whatever else of the new social media account to watch. we can oust this team pretty easily.

having control over social's is not control over neblio itself. the chain doesn't care. it moves on as expected.

[IWantMoreDecred]

fyziktom has learned a thing or two about blockchain when his team created VENFT and VEframework. He has a team. some possibility there. we know him. and we have others who know how to code. maybe someone will fill the role eventually.

[Jake2270]

I dont trust them with any proposal. Saw this posted online about this team. It doesn't fill me with confidence, put it that way. https://telegra.ph/Neblio-Is-Controlled-by-Russian-Criminals-Connected-to-Binance-11-11 https://www.bitchute.com/video/SIn104QjdiW5/

i don't trust that news either. i think that's just done by LUNC supporters who are trying to keep NEBL down. They really don't know anything about the team and are jumping to conclusions.

whether or not they are right, the moment they asked to touch burn address or change supply in their prior neblio 2.0 proposal that failed, i immediately considered them a threat looking to hurt us.

that burn address is worth over 100mil $ of nebl that is lost forever and we must make sure it stays that way.

so if they put out any wallet updates, inspect it for malicious code. if you can't read code. just don't upgrade it. nodes can hold out running the same old node software for years and let them waste their time. our chain works great as it is. It's not like original neblio team left us in limbo with a badly operating chain that needed major things. they left it at a time when it is really solid. we can hold out and accept nothing if we want and just hopefully find a new team.

all this current team has control over is our social media accounts and maybe the nebl website. they can either give them back to community or old neblio team or give them to a new team.. or, if they don't want to cooperate, if we get a new team we trust to come in, they can just create new social media accounts and we'll tell Coinmarketcap, binance, coingecko and whatever else of the new social media account to watch. we can oust this team pretty easily.

having control over social's is not control over neblio itself. the chain doesn't care. it moves on as expected.

Good points but I still don't trust them as seems neither do you. Though I do think theres truth in some of these things posted about them, the name/person matches the name of some scammer that was behind TCT chain, it did get Delisted on Binance (I checked) and it's not there anymore. The name crops up for other projects too as well as Neblio so I'm not going to dismiss it all as lies when clearly certain things are actually matching up with the claims/accusations.

Anyway, on your other point, about them not having any control over the chain, how do you know they didn't buy millions of NEBL at the time of the takeover? When it was around 0.17? How do we know they weren't the ones that then manipulated the price up above $3?

If they do own a lot of the supply still as the price is still way up from the ATL, then they can actually swing any vote possibly, we just dont know what exactly we are up against. Imagine if they got 3-4m coins aceoss wallets (they dont have a team wallet because that was with the old team) and they emptied it before they went.

So if new team do in fact have a lot of NEBL, their voting weight will be pretty high, so in theory they could put anu proposals on the table and use their nebl to vote them through. I dont think many of the other top wallets are actually bothering to vote on proposals.

So if you are wrong, they can actually impact stuff in a very big way, via votes as well as market manipulation which I am strongly suspecting they are doing. We cannot have rogue entities gaining this much on chain control.

[IWantMoreDecred]

So if new team do in fact have a lot of NEBL, their voting weight will be pretty high, so in theory they could put anu proposals on the table and use their nebl to vote them through. I dont think many of the other top wallets are actually bothering to vote on proposals.

So if you are wrong, they can actually impact stuff in a very big way, via votes as well as market manipulation which I am strongly suspecting they are doing. We cannot have rogue entities gaining this much on chain control.

the reason i know they don't have enough nebl is because they wouldn't even bother asking us. they would have just done it. no proposal at all. Think about it. if they really had millions of dollars worth of nebl, they would be so rich they wouldn't even care to waste time trying to get richer off of such an attack and risk jail. who would do this if they are already comfortable living? it's poor people who steal out of desperation, because they have little to lose. this is why i know they have nothing or at least not near enough to make a dent.

[IWantMoreDecred]

evidence of this is when their first neblio 2.0 proposal failed.. still, all this time later, and still no attack. why? cuz they got nothing. if they had a ton of voting power they would have just said "oh to heck with it, i'm doing it anyway" months ago, instead of wasting time still here.. still trying to sway us. that burn address alone is worth well over 100mil $. they wouldn't even care to take the time to pump up price any more. they would just have just forced it and moved on.

[Jake2270]

They might still do it anyway. Regardless of this going to a vote or not. There is nothing stopping them. They shaped the last roadmap without any of the items being voted for, and also disregard the Neblio X vote which was something that passed via a vote.

[Jake2270]

Why would they attack? If they got control of big amount of NEBL they can just use it to manipulate the markets, pump and dump it and take even more NEBL off people. They dont need to attack anything, they can just keep moving the price of NEBL wherever they want, hype to get FOMO then take people's NEBL. They can take the price anywhere they want it to go.

They already tweeted about a NEBL pump and dump and also one for a partner project SNM. so why would I trust these guys over anything? Looks to me like they using NEBL as their personal money making scam that's why I'm quickly losing faith in the project.

[Jake2270]

You guys are clowns! The website went down, but also the Orion wallet and Neblio APIs and you've said or done nothing as APIs are still down and Orion doesn't work! Trust totally gone! You have destroyed a very good and potentially great L1 platform. Hope you are happy with yourselves!

I have heavy bags, since 2018. I'm out in the next scam pump that you guys will orchestrate. I know Binance will remove NEBL once you guys are done with it cos I've seen proof you were behind TCT coin (I've seen what you did to it for 2 years) and that's been delisited on Binance. So i know what's coming for NEBL unfortunately.

[Jake2270]

What's even going on here? A DDoS attack happens 5 days ago, the Orion wallet is dead and the team say absolutely nothing?? Why are we hearing this from a third party source and not the dev team!? Are you guys even serious?? Answer right now! Or we'll hold a vote to get you removed! You guys.are fools! You aren't communicating with the community, you ban people that ask questions.

https://twitter.com/AgentCrypt0/status/1626263938198282243?t=8LQBwqoGBCldDOAfqNruCg&s=19

[Bartrnl]

Interesting replies. I have been looking at the Neblio Explorer: https://explorer.nebl.io/address/NMiYmuo5qXgBGqoiJ5ofyai8E24kZDzzwW and i noticed that in the last 2 weeks, about 660k neblio have been sent to the Binance Wallet, by one wallet! Which to me, looks like someone sold their 660k stack on Binance.

That must have been a long term holder... @Jake2270 was that you? Damn.. Too bad that you left the project if that's the case..

On top of that, when i take a look at that Binance wallet, i see that from 30 july 2022 (2 days prior to new team takeover ANNOUNCEMENT), till 25 November, about 2.6 million neblio have been sent to the Binance wallet... That's a lot of neblio..

So when I combine those 2 facts. I come to about 3.2mil neblio that were transfered to Binance since the new team takeover. I really wonder who's coins those were. Was it long term holders? Was it the old team? Was it the new team? Who sold 3.2mil coins?...

When I take a look at the price action of Neblio in the past 3 months, to me it looks like someone has been dumping bags massively.. The price sometimes went up for 30 minutes, and then dumped straight back. I have no clue what is going on...

Neblio has such a low circulating supply, about 20 million, of which only 50% is on exchanges. With any decent volume, a couple of millions of dollars, it should literally go up hard, in price. Like we saw in 2018. In the past 5 months, we got a lot of crazy volume days. Sometimes 10 million usd, sometimes even 50 million in a day! But Neblio price did basically nothing. Sometimes it went up 30%, but dumped straight back 30 minutes later.. This shows me someone has been dumping their hundreds of thousands, if not millions of coins? I can't think otherwise. Maybe i'm wrong? Who knows.

But to me it looks like more and more people that were long term believers, left the ship..?

What are you guys thinking that's going on here? @Jake2270 @Shane-Neblio

I'm a long term believer in Neblio myself. But this are looking shady lately.