Decentralized Governance Readjustment
The community is called to vote on altering the percentage of the block reward that goes towards the Crown Decentralized Governance and Proposal System (DGPS)
The Crown Platform project is going through several changes that impact its very foundations as a public blockchain, such as the change to a Proof of Stake protocol, and the first block halving after 4 years and 2.1 million forged blocks.
Technical transformation is accompanied by structural changes in the social composition of the project: Community and team have been growing and evolving since the decentralized governance system was implemented, tied to the Masternode layer that empowers participants to vote and decide on the future of the project.
Back then, begining of 2017, Crown was a small project with a hard Core of loosely associated individuals that decided to invest into further development of Crown. This effort, brought into action by some of the most engaged and veteran participants, would plant the seed for what Crown is today, a steadily growing and increasingly decentralizing ecosystem of crypto-enthusiasts, developers, merchants, entrepreneurs, designers, tinkerers, friends… that seeks to be self-sustainable and self-regulated.
The ongoing challenge of designing and developing a blockchain platform to reach the above goals as well as to host (d)Apps and offer advanced functionalities for individual and commercial use, such as timestamping, unique registration of assets and authorship, advanced governance, and payment services, among others, has proven to be at the height of the capacities and knowledge of our brilliant and commited development team, employed by the Crown DAO through the use of the DGPS.
Expertise comes at a price, and professional software developers, scarce and in high demand, are a rare good that we need to keep searching for and successfully retain. With the necessary expansion of the team, additional fixed costs have been accumulating. In the last months, the Core team has seen itself in a situation where, on top of being one of the most active parts of the community, it has had to contribute, along with other generous participants, big amounts of CRW in order to keep development at pace. The upcoming block halving poses a new challenge and has forced a new call for action.
As explained above, the situation is not sustainable mid- and longterm, which has obliged to re-evaluate the distribution of the block reward. After intensive debate with Masternode holders, developers, team, and community in a broader sense, these are the actions that have been taken in order to decide together what the future block reward distribution should be:
- Two proposals have been submitted to the network that ask the voting community if the percentage of the block reward that goes towards the DGPS should be raised to a) 20% or b) 25%.
- Pertinent research has been conducted in order to see how to change these parameters, so as to minimize the impact it will have on the ROI of stakers, as well as to maintain the economic balance and decentralization of the network.
This change is broadly viewed as necessary in order to keep development independent and the network decentralized. More context and debate can be found on:
- Gitlab Issue 246 Agree on budget redistribution and implement it:
https://gitlab.crown.tech/crown/crown-core/issues/246 - Proposals BLOCK20PCT and BLOCK25PCT:
http://bit.ly/BlkPrcntge - Czech Community voting:
https://twitter.com/CrownPlatformCZ/status/1051744738913775616
The Crown Community is called to discuss, vote, and decide, once more, the path that the project should take.
Visit https://crown.tech to join Crown!
