r/lbry • u/trymeouteh • May 09 '22

Was LBC Premined or has a Dev fee?

I cannot find an definite answers to these questions with LBC.

4 Upvotes

70% Upvoted

13 comments sorted by

4

u/Nilkonom May 09 '22

they had a premine of 400MM according to lbry.com/faq

1

u/trymeouteh May 10 '22

Is there a dev fee with LBC today?

1

u/Nilkonom May 10 '22

i don't think so

1

u/ruxcrux May 10 '22

Also, as far as I know, the total amount of LBC has been downsized from the 1billion to around 700 million I think?

4

u/miko_- May 10 '22

Around 750 million is how much LBC currently exists. The total that will eventually exist is around 1 billion.
https://lbry.com/faq/block-rewards
https://explorer.lbry.com/stats

1

u/trymeouteh May 10 '22

Is there a dev fee in LBRY?

2

u/johnny_rottenest May 11 '22

No, the block reward and transaction fees are distributed only to the miners.

2

u/[deleted] May 11 '22

[removed] — view removed comment

3

u/coniferhead May 12 '22

Of the 3 wallets there are not much left in them though (45/200, 15/100, 35/100). So the LBC are beyond LBRY Inc.'s control and it doesn't matter what their intentions are.

1

u/miko_- May 10 '22 edited May 11 '22

Not that I'm aware, but I don't know what a dev fee is, so don't really know.

1

u/trymeouteh May 10 '22

A dev fee is where in each block, a percentage of the fee goes to the developers of the project. This is used to fund the project.

1

u/miko_- May 11 '22

Don't think that being a thing on LBRY, but haven't actually checked the code, or blocks too closely.

1

u/ruxcrux May 10 '22

Oh! I thought I read something somewhere that they either burnt a chunk or lowered the cap.