Yet again you knock it out of the park!
Also, this isn't your fault but it's the result of having some in depth discussions and crunching numbers. The CR system is being replaced with AR or Award Rights. It's more than a branding change. It's a change to the way we think about the award system.
I think @badassbarbie put it best when she said that "altruism should be a choice we make based on love not our pocket book. most people will never issue a CR if it's going to be a choice between a TR and a CR".
So the primary difference here is that each Crown can generate 1 TR AND 1 AR every 90 days now. Previously it was 1 TR OR 1 AR.
Also if no ARs are awarded at all during a 90 day period then it rolls over to the next 90 day period.
Another change is that the AR cutoff period is 7 days before the end of the award cycle. This prevents someone from sneaking in an AR at the last minute.
Finally, crowns which are in a "debt state", cannot issue ARs but crown holders who have debt are just as eligible to receive an AR as any other VIVA participant. In that case, any Award they might receive would first be used to be pay off their crown debt. This is important because indebted crowns automatically sink their TRs into the liquidity pool until any debts are settled and indebted crowns cannot be transferred.
These are new changes just based on user feedback and your explanation was correct up until a day or so ago and you did an awesome job of explaining it!
Upvoted and Resteemed!
Another question if I may:
Can you give more details of the rationale behind this? I don't think it would really make a difference; instead of people sneaking in ARs at the last minute, they could just sneak them in right at the 7 day cutoff limit.
I think to make it fair and prevent people from gaming the system, you could make it so that ARs are "hidden" until the end of the 90 day period, and only then it is revealed how many were granted during that period and to whom.
Hiding public things on a blockchain is complex. The 7 days is there so folks know who got what. 7 days isn't arbitrary, it's the block proceeding the block that pays the AR.
This is the same as saying it takes 1 confirm from the AR close until AR payment.
Okay, sure. I thought maybe the data could be encrypted or something, but not really a big concern. This sounds fine.
I like this explanation better @williambanks, rather than it sounding like someone is 'gaming the system' (although it may be accurate). @cryptomancer, perhaps the explanation can read:
"ARs must be submitted on or before the 83rd day (7 days before the end of the 90-day period). At the end of the 83rd day, the AR awards are closed and recorded on the blockchain; on the 90th day, the AR awards are distributed and recorded on the next block on the blockchain. In this way, the AR awards can be recorded on a block-chain block preceding the one which includes the actual AR distribution. In other words, awards are recorded on one block (day 83), and the awards distribution are recorded on the next block (day 90). This gives everyone involved a chance to see to whom each award is given."
Of course, @cryptomancer, you may have a better explanation, or something - umm - less wordy :-)
Does this mean that if a crownholder does not issue an AR for a particular Crown during a 90 day period, then that Crown can issue 2 ARs in the next 90 day period? Or does it mean that if no ARs are issued at all from anybody, then the awards pool balance rolls over to the next 90 day period, instead of being reset to zero?
So ARs can be used completely independently of TRs? Does this mean you can choose to rent your TR to a mint, or sink it in the liquidity pool, but either way you still get to give out an AR as well?
It's just a reference to the pool itself as for ARs, they are use it or lose it.
Yes your AR is completely independent of your TR, unless your crown is indebt. Indebted crowns sink their TR into the liquidity pool to cool off and cannot issue ARs during the debt cycle.
Okay, makes sense, thanks.
Thanks for the additional details and appreciate the resteem! I'll get the post updated to reflect the changes. It's great that people won't be forced to make the hard choice between a TR and an AR.