Blocknet Governance Community Voting System Update.

Voting has been extended for this Superblock.

Recently, an issue with the Blocknet Governance Community Voting System payout mechanism was discovered. In light of this discovery we are deciding to extend the voting for the Community Funds Proposal to Nov 15th. This is because it is such a large amount of Block (130k) to be allocated. Voting will now close at Block 142000. Details are below:

Title: Community Fund Proposals

This is a collection of proposals for community funds to be created utilizing the redeem funds.

Rationale: Reallocate the redeem funds in order to support the long term goals of the Blocknet.

Proposal 1: Bug Bounty Fund

Purpose:

  • Incentivize white hat hacking and general improvements
  • Security audits

Cost Assessment: A fixed amount of 50,000 BLOCK

Proposal 2: Ecosystem Growth Fund

Purpose

  • Trading tutorials
  • Developer tutorials
  • Trading tools
  • Investor tools
  • Developer tools
  • Developer incentives
  • Documentation

Cost Assessment: A fixed amount of 20,000 BLOCK

Proposal 3: Rainy Day Fund

Purpose:

  • Used as a reserve emergency fund for any unforseen issues and expenses.

Cost Assessment: A fixed amount of 20,000 BLOCK

Proposal 4: PR Fund

Purpose:

  • Translations
  • Pay fees for articles, interviews, podcasts, Youtuber videos
  • Sponsor content (CryptoCompare newsletters, etc)
  • Advertisements
  • Graphics, designs, animations

Cost Assessment: A fixed amount of 10,000 BLOCK

Proposal 5: Development Fund

Purpose:

  • Interim payments to compensate contributors that begin tasks before a proposal period.
  • New website
  • Any additional development related costs

Cost Assessment: A fixed amount of 10,000 BLOCK

Proposal 6: Ledger (Secure HW Wallet) Fund

Purpose:

  • Used for development of Ledger hardware support and future maintenance, updates and support.

Cost Assessment: A fixed amount of 10,000 BLOCK

Proposal 7: Legal Fund

Purpose:

  • To seek legal council on various questions surrounding the liability of the project members regulatory compliance, such as:
  • Risk of contributing members if aspects of the project are deemed illegal
  • Risk of conceiving members if aspects of the project are deemed illegal
  • Risk of partners if aspects of the project are deemed legal
  • Compliance risk from GDPR and other regulations

Cost Assessment: A fixed amount of 10,000 BLOCK

Proposal 8: Burn Fund

Purpose:

  • Permenantly remove the excess Redeem Funds from circulation.

Cost Assessment: The remaining unallocated BLOCK from the Redeem Fund

Total Cost Assessment for the above:

  • Bug Bounty Fund — 50,000 BLOCK
  • Ecosystem Growth Fund — 20,000 BLOCK
  • Rainy Day Fund — 20,000 BLOCK
  • PR Fund — 10,000 BLOCK
  • Development Fund — 10,000 BLOCK
  • Ledger Fund — 10,000 BLOCK
  • Legal Fund — 10,000 BLOCK
  • Burn Fund — Remaining unallocated BLOCK from the Redeem Fund

Superblock Total: 0 BLOCK

Redeem Fund Total: 130,000 BLOCK + Burn Fund paid from the Redeem Fund.

Voting Guide: The process of voting takes place in the Service Node wallet.

Open wallet and go to Tools > Debug Console. The debug console will open in a new window.

To vote for the Bug Bounty Fund, please type the following commands as shown below: (Or click here for a clearer version that you can copy and paste)

If voting from the terminal, type in the following: (Or once again, click here for a clearer version that you can copy and paste)

For more detailed voting instructions please click here

To view all proposals in detail, please click here

Recently passed proposals

At the time of voting for the proposals below, 355 Service Nodes were active. At least 10% of nodes must vote for a vote to be legitimate. The following proposals were successfully passed:

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