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Author: Adeola @ Contributor of PermaDAO

Reviewer: Xiaosong HU @ Contributor of PermaDAO

Gitopia Updates Software To Modify Inflation, Introduce Incentives For Users.

Gitopia, a decentralised code collaboration project has announced software updates that modified inflation policy and introduced incentives, a move it says would ensure resilience and sustainability.

The software upgrade, version 3.0.0 was passed in a unanimous decision by the Gitopia community in September. The upgrade was needed to carry out modification in the inflation rate of its native token; introduce platform incentive; reduce ecosystem rewards; and ecosystem airdrop. The version 3.0.0 changelog includes the addition of transactions to archive a repository and to pin repositories for user and DAO among other updates.

The $LORE inflation policy was adjusted downward from a 35 percent rate and halving every two years over 11 years to a 15 percent initial rate and yearly reduction of one percent over 16 years duration while maintaining a hard cap of 1,711,136,479 tokens.

According to Gitopia, the new inflation policy would ensure sustainability while the old inflation mechanism was intended to stimulate early network engagement but was not sustainable. The goals of the policy modification are to ensure a strong token economics, retain future dilution valuation and ensure a timeline for token absorption in the market.

It explained that reducing the inflation rate of tokens reduces sell-off pressures token miners and delegators have and would contribute “to long-term value stability. The project also noted that having a future dilution valuation ration unchanged, sustains trust and previously agreed decisions.

Gitopia will also be incentivizing active participation in the platform. Users will get rewards for just using the platform for open-source contribution and collaboration. With more people venturing into technology and more companies springing up with employees based in different parts of the world, code repository, and collaboration services will be more in demand. The community also approved the initiative to reward users of the Gitopia service. Fifteen percent of the inflation-based rewards are to be dedicated to the incentivisation policy.

“This proposal aims to balance the need for incentivizing active platform usage while ensuring that contributions are of high quality,” the project said about the proposal which eventually got 99.33 percent vote in support.

The move could potentially attract users from its centralized competitor, Github which is popular among many developers but has received criticisms over arbitrary censorship of accounts. Accounts of people it suspects to be associated with some countries have been censored while those associated with projects have been taken down by Github.

As part of the update, long-term users will notice the addition of new features to the homepage of Gitopia. While the ‘latest’ feature helps to keep tabs on what is new, the ‘bounties’ tab helps to discover what the project calls treasure hunts.

Gitopia’s repositories are stored on decentralised storage networks such as Arweave.

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