The First implementation of the Community-centric Delegation Campaign & the Second One-year Token Burn Plan!

IRISnet
IRISnet Blog
Published in
4 min readMay 9, 2020

Last month, the IRIS Foundation Rolled Out a Community-Centric Delegation Campaign & the Second One-Year Token Burn Plan which starts on April 1st, 2020.

Both plans involve the expansion and optimization of the utilization of Eco-Development Funding. The token burn and rewards release has been completed by the IRIS Foundation at the beginning of May 2020: All delegators received IRIS tokens as direct deposits in an amount equal to their delegation reward earnings in April; the application form of validators rewards was released; the token burn in April was completed to maintain a zero percent inflation rate monthly.

The distribution of delegator rewards for April

On May 7th, according to community delegations from last month, the IRIS Foundation made a distribution to delegation addresses of delegators with an amount equal to their delegation reward earning in April.

1021823.96 IRIS has been distributed to delegators. You can look for details in IRISplorer.

The influence of the Community-Centric Delegation Campaign can be viewed in the following chat: the total stake has been increasd since April 2020.

Reference:http://iris.fan/#/data

Compared with the staking ratio of total circulation on March 31th, it has been increased on April 30th: the staking ratio of total circulation is 36% on March 21th; however, it is 42% at 4 pm on April 30th.

Thanks to the community members who actively delegate in IRIS Hub to promote the sustainable development of the IRISnet ecosystem!

The application form of validators rewards

To help the validator community to grow more decentralized, the IRIS Foundation schedules to reward eligible validators who continuously operate for a long time yet still rank relatively low in terms of the voting power to expand the community voluntary delegations and also maintain the security of the network.

The IRIS Foundation will evaluate validators based on their past operating data, and the willingness of future contributions to the IRISnet ecosystem. If you are interested in being rewarded, please fill the following form and give us your reasons why you should get the rewards!

Feel free to fill the application form: https://forms.gle/tRDcYeFue7rdeRWy7

The summary of IRIS token burn

The IRIS Foundation has burned 67,748,638 IRIS in total until now. The current total supply is 2 billion IRIS to maintain the actual inflation rate as 0.

The following are the details of the 1st IRIS token burn under the second one-year token burning plan with 4,994,080 IRIS burned.

This burning involved two addresses, namely:

1. The main address of eco-development funds:

iaa14tynuu49qx85re9kjfcx0uukdazk8jedlmeqt0

2,293,970 IRIS has been burned.

Enter the Txhash to check this transaction in IRISplorer (irisplorer.io):

CFFFA9D286A1F6B52D01BFFA612D75AFE3A73E2EFFA730560CE48F9CDF6A8463

2. The address of delegated rewards of eco-development funds:

iaa1yfqfqspjktk7gvyf3paqys88edy8m9vwptm9lk

2,700,110 IRIS has been burned.

Enter the Txhash to check this transaction in IRISplorer (irisplorer.io):

40DC5277A7599E4B26D2D7F39997F09E25EBD37880ECA6B64F88272EAD291DDB

The implementation of the second one-year token burning plan has been changed from quarterly to monthly. Continuing the goal of sustaining a zero percent actual inflation rate as the last One-year token burning plan, this follow-up burning plan will further remove IRIS tokens from circulation by 1) burning all delegation rewards the eco-development fund has received each month.2) burning part of the IRIS held by the Eco-Development fund’s main address. Thus, validators and delegators can receive rewards earning with zero inflation rate to facilitate sustainable economic growth within IRISnet.

Relevant information:

Announcement: one-year token burning plan

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IRISnet
IRISnet Blog

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