Attention masternode owners
It’s time to vote!
Being a masternode owner isn’t just about earning a passive income. With great rewards comes great responsibility. Masternode owners are responsible for enacting the Crown Decentralised Governance Proposal system which
- decides the future direction of the Crown project, and
- allocates funds from the superblock to the current proposals
If you need a reminder of what the CDGP system is about please take a look at the governance section of the Crown website, and familiarise yourself with the superblock calendar and the voting system.
It is crucially important that you exercise your duty to vote in the monthly superblock “election”.
The next superblock is at block 2,419,200 which is estimated to occur at about 07:20 UTC on 17 June 2019. However, voting closes 2880 blocks (about 2 days) before that but your masternode must remain online until the actual superblock for your vote(s) to count.
Please go and vote now!
Last month, in superblock 2,376,000 the submitted proposals asked for a combined total amount of Crown which exceeded the available funds. The proposal with the largest ask received the smallest number of votes and consequently, although it passed, it did not get funded. This put continued platform development in jeopardy. Also, fewer than 20% of the enabled masternodes actually voted.
That’s right, the majority of masternode owners abdicated their responsibility and left it up to a minority of a subset of the Crown community to decide how the project should progress and which proposals to fund.
This month, for superblock 2,419,200 the submitted proposals again ask for a combined total amount of Crown which exceeds the superblock maximum of 54,000 CRW. It is possible that there will be some additional proposals submitted for this superblock which will further increase the competition for the limited funds available. Almost inevitably that means some proposals will fail to be funded, even if they pass (a proposal passes when the number of Yes votes exceeds the number of No votes by at least 10% of the number of enabled masternodes).
At the time of writing, only about 30% of masternodes have voted in this superblock.
We need all masternode owners to carefully review the submitted proposals and vote according to their interpretation of the best interests of the project. Each proposal contains a link to a detailed description of what it entails, how much funding is sought, who is asking for it and doing the work, and the benefits it will bring. Please take the time to review all the proposals and to consider (among other things)
- the total available budget
- the individual amounts requested
- the other proposals amounts requested
- the priorities of the project
- the impact of each proposal on those priorities if it is funded and if it isn’t funded
- just passing may not be sufficient for a proposal to be funded
Hint: it would be a really good thing if the development and infrastructure proposals passed!
Where to find the proposals?
You can see a pretty colour overview of the active proposals at crowncentral.net:
You can also see the submitted proposals directly in your QT wallet in the Voting tab of the Masternodes page:
Most importantly, you can also vote for them here. But before voting, please take time to click on the URL for each proposal to read the details. Some of the descriptions can be found in the Crown forum:
but proposal owners can put the description anywhere (Google docs is another popular location).
The description should include essentials like who is making the proposal, how much they’re asking and what the community gets in return. There should also be contact details so if you have any questions about the proposal you can contact the proposer and seek clarification or offer comments and feedback.
Questions and comments are positively encouraged because they increase participation and help build the community. If you vote No on a proposal it would be really helpful to the proposer if you let them know why you voted that way. You can ask questions and leave comments in the #proposals channel in Discord.
How to vote
Each proposal includes instructions on how to cast your vote. There are two cryptic looking lines of the form
How To Vote YES: mnbudget vote-many 3c67369ab31786ab1bff83c3634a71eb3b9b8983260d1f97c0e664bc741cdb4f yes
How To Vote NO: mnbudget vote-many 3c67369ab31786ab1bff83c3634a71eb3b9b8983260d1f97c0e664bc741cdb4f no
which are what you need to know if you’re going to vote using the command line interface or the debug console of the QT wallet. You can also vote directly from the Voting tab in the QT GUI. Whichever method you’re going to use, your wallet must be unlocked before you can vote.
To vote using the QT GUI, click on a proposal to highlight it and then click the appropriate vote-many button. The wallet will respond with a confirmation request window:
After voting you should get a result window similar to:
Due to a bug in the QT wallet, votes don’t always register on the first attempt. If you don’t get a result window like this, you need to vote again.
You can vote more than once for any proposal but only your last vote before the voting window closes counts. So you can change your mind on a proposal if you want to.
Remember: this superblock is over-full. It is probable that not every proposal which passes will get funded. If passing proposals don’t get funded there is a possibility that some superblock funds will remain unallocated and be wasted (as happened last month). One of your responsibilities as a masternode owner is to ensure funds are allocated in the best interests of the project. You may want to change one or more of your votes to make that happen.
Please vote as soon as possible.
Please also check again before the voting window closes (around 07:20 UTC on 15 June) because circumstances could have changed and you may want to vote again.
So far only about 30% of masternodes have voted. Let’s see if we can double that number over this coming weekend.