Presearch is excited to announce that, as per its roadmap, the project will transition to version 1.0 of its new Tokenomics Engine on Monday, February 22nd.
This marks the beginning of a new phase where search rewards are no longer pegged at a fixed rate of 0.25 PRE per search, and will be variable rate, based on system-wide inputs such as number of searches, advertising revenue, node operator rewards and other factors.
Starting Monday, reward rates will now be automatically adjusted each day to balance the overall tokenomics of the Presearch platform on an ongoing basis.
Node operator rewards
If you’ve been following our recent news, you’ll know that we just achieved a major milestone in launching our new node-powered search engine at the end of January. Anyone can run the a Presearch node on their own computing resources to power Presearch’s decentralized search engine, and they will soon receive rewards to compensate them for providing that computing capacity. Just as the Tokenomics Engine will now dynamically adjust search rewards based upon supply and demand to meet the needs of the network, it will be used to power dynamic calculation of Node Rewards for node operators, which will be released by the end of February.
Looking forward, another concept we are currently exploring is search staking, which would be a way to enable Presearchers to stake PRE tokens in order to increase their rewards earned while searching. There may be different levels of staking available with multiple reward rates to match. In this way, Presearchers are rewarded at a higher rate for long term usage of the platform, better aligning incentives toward the those adding the most value.
We are very excited about the potential to leverage staking to overcome some of the challenges posed by people and bots looking to game the rewards system. This could enable us to eliminate or at least minimize the use of the rewards verification system (RVS).
Building a sustainable ecosystem
The overarching goal with this shift to more of a ‘value for value’ model is to ensure that the project is economically sustainable and that rewards are distributed fairly in a way that recognizes the value of all the participants within the Presearch decentralized search ecosystem.
With the price of PRE having recently increased by more than 300%, this has expedited the priority of the Tokenomics Engine rollout to ensure all rewards (search rewards, node operator rewards, and traffic value for keyword operators) are always kept in balance going forward.
As we laid out back in August of 2020, it has been a multi-stage transition to get to this point, with several other releases preceding the rollout of the new Tokenomics Engine, which now positions the project to scale toward many millions of users as we begin our marketing push.
Thank you for your support as we undertake the next leg of the journey, and please know that we are listening to your feedback and that the model is a work in progress and will continue to evolve in time.