participants are voted into Oracle positions by stake-weighted voting of an SMT
There is something I don't understand. If the job of Oracles is to whitelist people into a specific SMT, then how are these people going to vote Oracles in the first place and with what stake/SMT...Hopefully that make sense.
In an SMT, voting rights (granted by stake) over Oracle positions are distinct from rights to receive from the SMTs rewards pool. This means someone could own an SMT and not have rights to receive from that SMT reward pool - similar to how many people own Bitcoin but can’t/don’t mine it themselves.
As for genesis - either some SMT must exist at launch/outset to do the voting for Oracles; there will be no Oracle restrictions on Rewards Pools; or the Oracle electorate are decided by another SMT.
Can each smt adjust their inflation rates based on predicted market size?
I really enjoy this build-your-own subchain SMT idea - I think Ill head over to steem.chat under the 'deep-thinker' category 👈😇👉