What You Need to Know about IRIS Community Tax Pool Allocation!
Since the mainnet launch on March 1, 2019, IRISnet has been running smoothly and well. The Community Tax Pool has accumulated about 1 million IRIS funds. These days, IRISnet community members are having off-chain governance discussions on this topic.
In this article, I am going to share with you the background info about this fund, also the current discussion focus, as well as how to participate in this community governance on how to make good use of this fund.
Where do the funds come from?
Every time a block of IRISnet is generated, some new IRIS will be issued under an annualized inflation rate of 4%, of which 2% will enter the Community Tax Pool. With network running stably, the tokens in the pool keep accumulating. At the time of editing, 993,609.4807 IRIS has been accumulated. For real-time data, please view: https://www.irisplorer.io/#/stats/irisstats
How to use the funds?
IRISnet has an advanced on-chain governance mechanism. Users can initiate proposals and others can vote on proposals to decide how to govern the Community Tax Pool.
Community Governance
The way how the fund is used is up to community members. From the governance discussions on the platforms such as the IRISnet Forum and the community group, we have seen many community members provided valuable suggestions.
For example, there are those who proposed to burn:
Some have proposed airdrops:
Some have proposed to build the ecosystem:
Thank you, community members, for your active participation in the governance! Although opinions are very different, the distribution of the community fund pool is not fixed, and it can be allocated in proportion. For example, someone can either issue a CommunityTaxUsage proposal and specify 30% of the Community Tax Pool to be burned. At the same time, other members can also issue another proposal to specify the remaining 70% for airdrops. What’s more, community members who wish to apply for grants can even issue a proposal for the grants …
The above is just for reference, and everyone is welcome to make more governance discussions on IRISnet forum!
How to Participate in the Governance via the IRISnet Forum?
First, click the link to join into the discussion of how to use the funds in the Community tax pool: https://forum.irisnet.org/t/how-to-use-tokens-in-community-pools/309
You need to log into the IRISnet forum through GitHub or Google account authentication. After the registration, you are allowed to leave a message and share your opinions.
How to get voting power?
Every individual in the community can participate in the governance of launching a proposal. Please pay attention, only delegators and active validators, who participated in the network consensus during the voting period, can cast their valid votes for the on-chain proposal. If you do not know how to delegate your IRIS tokens, please check this article:New Rainbow Tutorial 3: Delegate and Undelegate
Then you have the right to vote by following this article：Rainbow v2.5 Released with On-chain Governance Support!
