FIRMACHAIN Governance Proposal Voting Result_FIRMACHAIN v0.3.5 Upgrade
Hello. This is FIRMACHAIN.
The voting on FIRMACHAIN’s third governance proposal — the first software upgrade proposal ‘FIRMACHAIN v0.3.5 Upgrade’ — that started on the 8th of December is now complete. The proposal passed successfully.
The voting on this proposal, held for 7 days, showed a high voting rate of 90.53% out of the total voting power.
*Click on the image to enlarge
With the passing of this proposal, the FIRMACHAIN network will be upgraded at block height 4,806,000 (December 20, 22 22:00 UTC +8).
Following are the results of this voting.
▶️ FIRMACHAIN v0.3.5 Upgrade Proposal Voting Result
① Voting Start : December 8, 22 18:29:55(UTC+8)
② Voting End : December 15, 22 18:29:55(UTC+8)
③ Key Details
- Overview
- Supports the official version of CosmWasm
- Version upgrade of FIRMACHAIN binary, Cosmos SDK, IBC, Tendermint
- Applies the second governance proposal
- Effects
- Multichain smart contract support is now available with the integration of IBC and CosmWasm
- CosmWasm platform support enables a strong smart contract writing and DApp development features
- Applies the patch from the second governance proposal - Upgrade Details
- Supports the official version of IBC(Inter-Blockchain Communication Protocol) : applies the more stable IBC v3.3.0
- Supports the official CosmWasm version : Applies the official CosmWasm v0.29.2 for the multichain smart contract platform
- Sets Minimum Commission to 5% : Applies FIRMACHAIN’s second governance proposal (Increase minimum commission rate to 5%) proposed by Validator ‘PERLLUCK | LOVE & PEACE’
*Sets a floor of 5% to Validator’s minimum commission rate. The commission rate of those who have set the minimum commission to less than 5% will automatically be adjusted to 5%.
- Upgrade Method
- Validators must upgrade the FIRMACHAIN binary version from v0.3.3 to v0.3.5-patch
* Does not apply to regular holders
* Reference link when conducting the upgrade
Github:
Upgrade guide :
- Upgrade Details
- Cosmos SDK: v0.44.5 -> v0.45.9
- Tendermint: v0.34.14 -> v0.34.21
- IBC: v1.2.2 -> v3.3.0
- CosmWasm: v0.29.2
- Min Commission Rate: 0% -> 5%
- Firma Station: v1.0.17 -> v1.0.18
- Block Explorer: v1.6.0 -> v2.0.0
④ Votes
- Voted: 92,076,505.51(90.53% of total voting power)
⑤ Voting Result
- Yes: 89,095,406.418304(96.76%)
- No: 2,981,099.096263(3.24%)
- Veto: 0 (0%)
- Abstain: 0 (0%)
▶️ What to look out for during the Upgrade
- Due to time differences in the block creation time, the exact upgrade time requires consistent monitoring.
- The Firma Station application will not function during the network upgrade.
- The stabilization of the Firma Station application and the block explorer can take up to 1~2 hours post-upgrade.
- During the upgrade, some cryptocurrency exchanges can suspend the deposit and withdrawal of FCT(FCT2) so please check the announcements of the respective cryptocurrency exchanges.
Thank you.
For more information about FIRMACHAIN, or partnership inquiries, please contact us at contact@firmachain.org. Those who wish to join the FIRMACHAIN team, please contact us at info@firmachain.org.
About FIRMACHAIN
FIRMACHAIN originally aimed to transfer all paper based social and legal activities onto the blockchain to introduce transparency and prevent document tampering and forgery. Maintaining the fundamental value of trust, the FIRMACHAIN team is now turning its gaze to becoming a comprehensive blockchain platform. Our goal is to provide business entities and FIRMACHAIN holders with useful blockchain based services that are useful yet fun to engage with thereby satisfying the team’s goal to become a ‘Utilitainment’ (Utility + Entertainment) platform.
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