Business Location Changes/Reduced Staking


#1

Hi, I am new to the FOAM Map, however, I believe that this is a tremendous technology attempting a tremendous pursuit and I am excited to participate! I do have 2 fundamental questions regarding owning a POI with my staked FOAM Tokens:

First, I would like to inquire about how Changes to a POI may occur: i.e. A pizza shop goes out of business and is replaced by a new fancy Bar in town. These types of changes can occur frequently and without much public knowledge. If done, does the Owner of a POI maintain the risk of being challenged and losing that challenge resulting in a loss of staked tokens?

Second, with any significant increase in the price of FOAM, will the minimum amount of staked tokens for owning a POI decrease as a result? As in, if the minimum amount of staked FOAM (currently 50 FOAM with ~ price at 0.04usd) increases in price to say, 4.00usd, will POI owners be able to withdrawal any of their Staked Tokens and still maintain ownership of the POI? Or is it designed so that if you wish to withdrawal your stake, you relinquish ownership of your POI, which will allow for new participants to create a POI? Is there a benefit to this I’m not acknowledging?

Thank you for your time and attention,

nay


#2

Welcome!

Yes - it is up to point owners to make sure the points stay accurate and up to date. Point owners have an option to remove the point (and have tokens refunded) in case it becomes outdated as in your example.

It’s a parameter that can be changed by the FOAM token holders. In community calls led by @nameloceroom, we have been discussing these “governance parameter” changes. So far, there has not been a vote to change a parameter.


#3

Thank you for the response!


#4

Welcome! Have fun creating!
Pay attention to the selection and the tags when creating the POIs. It may be that new tags are introduced which then apply more to the POI.