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Our understanding of being a P-Rep is closely linked to act in a trustful and transparent way. And another month means another transparency report where we publish a report stating how we are using our P-Rep reward funds.
Here you can find the previous Transparency Report.

In the previous month we changed how our funds are used and we don’t exactly allocate the funds to the certain category, but we approximately assign it based on the planned percentages. …


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Our understanding of being a P-Rep is closely linked to act in a trustful and transparent way. And another month means another transparency report where we publish a report stating how we are using our P-Rep reward funds.
Here you can find the previous Transparency Report.

We have completely overhauled the distribution of our ICON P-rep rewards as we have seen that many of the rewards have been stagnant due to inefficient distribution. We have decided to allocate all the funds into one wallet and use the funds for operations on the ICON network based on the current needs. This allows us to be more adaptable to the current situation in the ICON ecosystem and our company and thus be more efficient.
ICON Europe treasury was very stagnant because of a lack of interest in pushing this initiative, we have allocated 15% of all the funds into it to help support the growth of ICON in the European region. We will still work towards that goal but the funds allocated to this will be used for the development, and we will be looking to use them while collaborating with European P-reps when we see it fit and possible. …


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LICX development is finished. We are releasing a mainnet version with a cap that will be slowly increased to ensure everything is running fine. We are also in process of getting an audit and are doing extensions to make LICX useable in more ways.

!BETA VERSION IS UNAUDITED!

Summary

The first version of LICX is live on the mainnet with a cap of a maximum of 1,000 LICX to be minted. We will monitor the smart contract and increase the maximum cap accordingly. This is a preliminary security measure as the smart contract deployed is unaudited by a third party, we are in process of getting an audit for the smart contract. …


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Our understanding of being a P-Rep is closely linked to act in a trustful and transparent way. And another month means another transparency report where we publish a report stating how we are using our P-Rep reward funds.
Here you can find the previous Transparency Report.

We have changed the expenses from being shown in ICX to $ to more accurately represent the amount of funds used by the company. The change in the unpaid expenses column where this will be in effect will be highlighted with a darker shade of green. The previous months are still shown in ICX. …


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Our understanding of being a P-Rep is closely linked to act in a trustful and transparent way. And another month means another transparency report where we publish a report stating how we are using our P-Rep reward funds.
Here you can find the previous Transparency Report.

We have changed the expenses from being shown in ICX to $ to more accurately represent the amount of funds used by the company. The change in the unpaid expenses column where this will be in effect will be highlighted with a darker shade of green. The previous months are still shown in ICX. …


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Long have we waited and finally the time has come for us to release the first version of LICX to the public to test it out. Test it out and try to break it if possible, this will only help us improve any bugs in the code.

Summary

LICX is finally coming to a stage where we are comfortable to reveal it to the public because we want LICX to be as user friendly as possible, we have been tinkering with it for a longer period than initially expected. But now it is ready for testing so head over to licx.finance


Image for post
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Our understanding of being a P-Rep is closely linked to act in a trustful and transparent way. And another month means another transparency report where we publish a report stating how we are using our P-Rep reward funds.
Here you can find the previous Transparency Report.

We have added a “€ to $ ratio” column to the spreadsheet which states the ratio between the two currencies used for calculations, meaning that one € would result in the amount of $ written in the spreadsheet, and this month the ratio between them is 1€ : 1.18$. …


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Our understanding of being a P-Rep is closely linked to act in a trustful and transparent way. Since we moved our funds to different wallets for security reasons we want to make sure that the community knows this.

We have updated our security and in the process, our wallet addresses were changed. We have already updated our links in the block42 ICON reward distribution sheet and that all of the wallet addresses can be seen there.

You can see how our funds are distributed in the ICON P-Rep Fund Transparency


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Our understanding of being a P-Rep is closely linked to act in a trustful and transparent way. And another month means another transparency report where we publish a report stating how we are using our P-Rep reward funds.
Here you can find the previous Transparency Report.

Find a detailed distribution of ICX funds each month in the following Google Sheets document: block42 ICON funds spreadsheet

As stated in our P-Rep proposal, we’ve defined categories to whom we allocate our P-Rep rewards. For each of these categories, we will explain our claim, which means how much money and/or working hours we’ve spent on that category in the last month. …


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To provide transparency on our progress we decided to provide a bi-weekly update on the LICX progress. Here is what we accomplished in the third sprint of LICX development.

Summary

LICX is a token that represents staked ICX this way users can transfer ICX to another wallet while still receiving the rewards for staking. This week we have focused on finishing open tasks and documentation. You can read the previous bi-weekly update here.
Tasks that we have completed in this sprint:

  • Testing batches for automatic reward distribution
  • Writing FAQ and Technical documentation
  • Implementing the transfer function

Testing batches for automatic reward distribution

To improve the user experience of using LICX we want to implement automatic reward distribution in our MVP. To get more insight into how the transaction fees affect the rewards and determining the correct batch size to not clog up the network, we had to do testing with various batch sizes. …

About

Jasa Srot

Project & Community manager @block42 Blockchain Company

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