GoNebulas Community Collaboration Fund Established with over 4,050,000 NAS! Nebulas Follow Apr 15 · 3 min read

On March 30, 2020, the Nebulas mainnet was successfully upgraded to Nebulas Voyager. Since the block height of 4,202,000, the DPoS consensus mechanism that has been used temporarily by Nebulas has been upgraded to the Proof of Devotion (PoD) consensus mechanism. Revenue from DPoS block generation up to the mainnet block height of 4,201,999 has been managed by the Nebulas Foundation* and will be fully invested into a Pool to support community building via Go Nebulas.

DPoS Managed Revenue Source and Quantity

According to the Nebulas Technical White Paper, Nebulas’ base asset “NAS” has a fixed total supply of 100 million NAS plus annual inflation:

1. The incentive to bookkeeper nodes: 3 million new NAS are issued each year, or approximately 8,219.1744 NAS per day. The generation of this NAS began on March 31, 2018 when the Nebulas mainnet went live;

2. Developer Incentive Protocol (DIP) Reward: 1 million NAS annually which is awarded to Smart Contract Developers. This began on May 6, 2019, when the DIP protocol went online (from block height of 2,307,000).

The inflation portion from the mainnet network upgrade is managed by the Nebulas Foundation, which holds all DPoS Managed Revenue.

On October 29, 2019, a community vote decided to destroy the 35 million NAS community fund which greatly reduced the total NAS issuance. In addition, the community voted unanimously to reduce annual inflation and to restore the annual revenue structure from 4 million NAS back to approximately 3 million NAS annually (Proposal No. NIP162, Executive Announcement). With this proposal being approved, excess revenue generated from the block height of 2,307,000 to 4,201,999 has been destroyed — the destruction announcement was issued separately.

Therefore, according to the block height, since the Nebulas mainnet launched in March of 2018, and when the mainnet was upgraded with the revised annual distribution, the calculation formula of DPoS’s revenue is: 1.42694*4201999+(0.47565* (420199–2306999)); Total NAS generated: 6,897,357.2031.

The formula for the excess portion to be destroyed is 0.47565* (4201999–2306999) with the NAS amount to be destroyed being 901,356.75 NAS.

Ultimately, the DPoS managed revenue pool is 5,996,000.4531 NAS.

DPoS Managed Fund Income, Distribution and Fund Advance Settlement

As of March 30, 2020, DPoS revenue in the Foundation’s Trust were partially used for the following projects — the remainder has not been distributed:

The amount loaned by the foundation which is to be repaid with DPoS revenue is:

The remaining DPoS fund will be issued to the Nebulas Foundation in the amount of 4,050,894.6972 NAS.

The remaining DPoS Managed fund will be fully invested in the GoNebulas Fund

The delivered DPoS fund revenue (approximately 4.05m NAS) will be fully invested in the GoNebulas Fund as a source of funding for the GoNebulas community collaboration platform.

GoNebulas Fund address: n1cwsE8w4m6cRkr14R5c4hK3Lb9wPsUHhY9

The PoD nodes, governance mechanism and governance nodes via voting will determine the establishment and acceptance of the platform project. The Foundation’s implementation of projects will be based on the voting results of the governance nodes. The GoNebulas platform will continue to be an important component of the Nebulas ecosystem and autonomy. Each community member can launch a project on the platform to contribute to Nebulas’ technological development, ecosystem construction, branding and promotion. We look forward to your participation!

*The DPoS managed revenue pool is only for the inflation portion prior to the Nebulas Voyager mainnet upgrade. With the new mainnet online, the 3 million NAS generated per year will be spent exclusively on the node initiative as block rewards and community governance bonus. For further details, see Node Planning Incentive Allocation.