[PoI Vote Open] Symbol Tokenomics - Network Fee Usage

As communicated on [Symbol Tokenomics Update] the original Tokenomics proposal did not address what should happen with the various sink funds/network fees that are configurable in Symbol.

These fees are items such as:

Mosaic fees
Namespace rental fees
Voting fee rewards (Finality voting)

It is already known that the voting fees will be distributed to Voting nodes (supernodes >3m that have voting role enabled and are voting), initially this will be a layer 2 solution alongside the supernode programme, in time we will work to try and place it on chain as part of the roadmap.

The remaining fees have several options, none of which is more or less correct than any other; they are personal preferences.

How to Vote
To Vote via Nano Wallet, you need to update your Nano Wallet to Fix the Voting Module

Latest Build: [https://github.com/NemProject/NanoWallet/releases/tag/v2.4.8]
Poll address for voting via nano wallet voting center: NAL34O5XRY6ZEYIUTTF4YFSPA2JZARKTHVDQLKAP

A guide is here: https://docs.nem.io/en/nanowallet/voting-module


  • Option A: Direct network fees to node voting fund NAJSQAGXLQHSX3ZWMI42UB3C4UP5MNFS4VW63OWT

  • Option B: Direct network fees to NEM HUB community reward program NCZ53LWZSEETJ3OHZZQ2OIA7JD47XF36RSCQJ4HC

  • Option C: Direct all network fees to a burn address NB7QNYG42BL6ID2NELGT4OUVMG2WJMLNSLT47TXU

The vote is PoI based and will run until 10.00am, 28st January 2021, the general rules for the vote are outlined in the vote description

The Tokenomics subject is quite complex/dense, however this component is relatively discreet, the decision has an impact on the supply inflation (and therefore circulating supply potentially) and block rewards earned by harvesters + node owners.

The Voting Module relies on the HugeAlice server on NIS1 as it performs a specific role that others do not have. It has had some performance issues occasionally in the past couple of weeks so BloodyRookie is keeping an eye on it. We are adding a further 2 nodes to NIS1 as backups in case this causes challenges, they will take some time to sync but will be online asap.

Happy to answer any questions/discussions and for the avoidance of doubt I confirm that this vote is BINDING, NGL and the Core Devs will implement the decision at Symbol launch


Voting has now closed. The community has selected Option A: Direct network fees to node voting fund. NEM Group will implement this decision in the Symbol Mainnet.