Whitepaper
Search…
⌃K
Links

Information

Users

Users will receive 55% of the block reward and 10% of the transaction fee. With these rewards people will be able to delegate their coins to “send free transactions” but also receive a % return of the delegated coins that could be used anyway they like. Core idea behind the users receiving this reward is to incentivize users to delegate coins and keep the inflation down but also make their voice heard by giving the right to vote on new proposals created by Bancc or the community.

Validators

Validators will receive 6.99% of the block reward and 80% of the trans- action fee. Anyone is eligible to create a server and set up a validator. There will be a maximum of 300 validators available in the network at the same time. The validators in the network are seen as the “payment processors” whereas people that are interested in becoming a validator should treat it as running their own businesses.

Merchants

Merchants will receive 9% of the block reward and 0% of the transaction fee. Anyone is eligible to join as a merchant but will need to do a KYB verification process in order to join. The merchants will be setting up light clients all around the world to help secure the blockchain and be able to process transactions in a physical or online store.

Bancc

Bancc will receive 20% of the block reward and 5% of the transaction fee. Bancc will be mainly responsible for conducting business related operations with other businesses around the world to facilitate a growth with users that can use the products and services all in their respective country. Bancc will be responsible for developing, market- ing and operating the blockchain, with the usage of delivering proposals for the network to vote in.

Foundation

Bancc Foundation will receive 9% of the block rewards and 5% of the transaction fee. The foundation will be a non-profit organisation that aims to help and build a sustainable future in low income countries that are in need not only in financial infrastructure but also in human necessities such as food, schools, buildings, electricity etc.

Non-stakers

Non-users (the ones that only have an address) will receive 0.01% of the block rewards and 0% of the transaction fee. We think it is a great idea to reward users that have not delegated staking to incentivise people to buy an amount of coins to delegate.