Published in


IRIS: Vote In A Few Steps Via New Rainbow Wallet 2.5, The 2rd IRIS Token Burn Complete

Biweekly update 20th September — 4th October

This is not financial advice.


Github metrics:

Rainbow v2.5 Released with On-chain Governance Support!

On September 26th, Rainbow Wallet v2.5 is released with new function of voting. Following is a tutorial on how to participate in the voting:

  • Why to add a function of voting to Rainbow Wallet?

IRIS Hub supports on-chain governance to achieve a self-evolutionary network. Before a feature of voting which supports on-chain governance is added to the latest version 2.5 of Rainbow wallet, IRIS token holders can only use command-lines to participate in voting for proposals.

Now every address from IRIS Hub can share its opinion via voting on Rainbow wallet. According to the proposal results, IRIS Hub will automatically make a conclusion, which lowers the requirements of participating in the on-chain governance to support more secure decentralization of the network.

IRIS Hub applies Bonded Proof of Stake consensus. IRIS token holders need to delegate tokens to an active validator to vote and participate in the consensus.

  1. If you have already delegated your IRIS tokens to validators, you can vote directly;
  2. If you have not delegated your IRIS tokens yet, please check: New Rainbow Tutorial 3: Delegate and Undelegate. After delegation, then you have the right to vote.
  • How can I vote as an IRIS token holder?

When there is a new proposal, you can open your Rainbow wallet to check the related information and participate in voting (Currently, only the wallet from IRIS Hub supports this feature. For the support of ATOM from Cosmos Hub, it will be included in the future version.). In order to vote, you need to:

  1. Open Rainbow wallet v2.5, choose [Vote] from the bottom of the home page;
  2. Enter into the Proposal list, check the necessary information and current voting period of every proposal;
  3. Choose one of the proposals with VotingPeriod, read the details and click [Vote]; after that, choose one of the following option ([Yes],[No],[Abstain],[NoWithVeto]);
  4. Click [Confirmation Vote], enter the password, choose [Confirm] to finish voting;
  5. Check the successful votes in the Voting Records.

Social encounters

FAQ on How to Vote

  • Before voting:

Q: Who initiates the proposal? Can wallet clients launch new proposals?

A: It’s complicated to initiate a proposal. Command-line tools are needed. You can find a validator node to help send it out. Detailed instructions:

Q: Is IRIS needed for on-chain proposals? Who will deposit IRIS for the proposal?

A: The initiator of the proposal first deposits, the user cannot participate via Rainbow wallet.

Q: Can you send out a list of the scope of the parameters that can be changed in the proposal?

A: All of the above parameters can be changed by on-chain governance.

Q: Who sets the Participation and Pass Threshold rate of proposals?

A: It depends on the type of proposal. Specific reference:

Q: Can we also initiate a proposal to change the undelegation time in Cosmos?

A: At present, Cosmos does not have the function of on-chain governance and self-evolution, but Rainbow will support for Cosmos’s governance proposal in the future. The change will take effect in the next software upgrade of Cosmos.

  • During Voting:

Q: Why can’t I vote?

A: Maybe for the following reasons:

1. You haven’t delegate your IRIS to any validator. You can get the right to vote after delegation.

2. Your Rainbow wallet has not been updated to the latest version. To use this feature, you need the latest version of Rainbow Wallet:

Q: What if both of the Reject and Pass Threshold is reached in the same proposal?

A: The priority of the Reject is higher. The proposal will be rejected.

Q: What is the difference between No and NoWithVeto?

A: No does not affect the Reject Threshold. NoWithVeto affects the Reject Threshold.

Q: How much power does the IRIS team have in deciding whether to pass the proposal?

A: The outcome of the proposal is entirely determined by the community.

Q: I regret my voting opinion. Can I change it?

A: Everyone has only one chance to vote.

Q: What does the Valid Votes mean?

A: It refers to the number of valid votes generated by IRIS delegated to active validators in the consensus. If the validator is jailed or is a candidate, there won’t be any valid votes.

  • After voting:

Q: How long will the proposal take effect after its adoption?

A: If the type of proposal is parameter change, the change will take effect immediately once it is passed. If the type is a software upgrade, the next version of irishub will be upgraded if the proposal is passed.

Q: If the proposal on shortening the 21-day unbonding time is passed, will the currently releasing tokens come to my account immediately after the proposal takes effect?

A: They will not. The proposal takes effect and the users need to wait for the corresponding time after undelegation. For example, a proposal on “shortening 21-day unbonding time to 14 days” comes into effect on October 5. Then users who undelegates their tokens before October 5 still need to wait 21 days. And after October 5, it only takes 14 days to undelegate.

Q: Will there be any loss if the proposal is not passed?

A: When the proposal fails to meet the PassThreshold, governance costs will be deducted from the deposit and the rest deposit will be returned to the participants in the deposit phase. But if the proposal reached Reject Threshold because of NoWithVeto, all the deposit will be burnt. Setting up NoWithVeto is to prevent malicious proposals. Please choose your opinions carefully!


The Date Summary of IRIS Network

  • Current total staking: 588.33 million
  • Current staking ratio: 29.40%
  • Total IRIS tokens: 2.0011billion
  • Current Annual Inflation Rate: 4%
  • Annualized staking yield: 13.605%
Source: IRISplorer
Source: CoinMarketCap

The 2rd IRIS Token Burn Complete

On September 27th, 2019, the IRIS Foundation completed the 2nd IRIS token burn under a one-year token burning plan with 14,304,888 IRIS burned. The current total supply is 2 billion IRIS.

This burning involved two addresses, namely:

The main address of eco-development funds: iaa14tynuu49qx85re9kjfcx0uukdazk8jedlmeqt0.

5,696,910.00 IRIS has been burned.

The address of delegated rewards of eco-development funds: iaa1yfqfqspjktk7gvyf3paqys88edy8m9vwptm9lk.

8,607,978.00 IRIS has been burned.

The details of burning can be checked from IRISplorer:


Before burning:

Total Supply: 2,014,304,888 IRIS

First Burn: 5,696,910 IRIS

Second Burn: 8,607,978 IRIS

After burning:

Total supply: 2,000,000,000 IRIS

  • Relevant information:

Partnerships and team members

The 16th IRISnet Validator Brief | Chainflow & Stake. fish

To help the community members learn more about the validators on IRISnet, the team is publishing a series of articles, each of which will cover two validators.

When choosing a validator to delegate, technical parameters such as self-bonded (the higher the better), uptime (the higher the better), commission rate (the lower the better), bond height(the lower the better)etc are good KPIs to review to get a 360-degree view on the validators’ performance. It is always a good practice to select multiple validators to hedge the delegation risk.

The following information can be found on IRISnet explorers including IRISplorer, IRISnet-Overview, Big-Dipper, IRISnet-P2P, Hubble,Minscan.

These are the data on September 26.
  • Chainflow

Who is Chainflow?

Chainflow is currently operated by Chris. His goal is for crypto and decentralization to result in a fairer distribution of power, wealth, and opportunity. He is an original member of the Cosmos Validator Working Group, dating back to October 2017. He’s been running on the IRIS Hub since genesis.

Why Choose This?

  1. Inclusivity — Everyone’s welcome and receives the same terms, no matter how big OR small 😊
  2. NO MINIMUM STAKE REQUIREMENT! — There are no preferential terms or treatment for one delegate over another. Big stakes and small stakes get the same attention.
  3. Performance, operating at 100% uptime, consistent with the biggest validator companies
  4. Fair and transparent fee structure, consistent with these guiding principles:
  5. Distribute enough rewards and fees to stay competitive, while not compromising system availability, security, and integrity.
  6. Keep enough rewards and fees to maintain and improve the network.
  7. Keep a percentage of rewards and fees to repay myself for the time and effort invested in running the systems.
  8. Maintain full transparency into the distribution and uses of rewards and fees.

Contact Info

If you are interested in delegating to Chainflow please read this or reach out!

Let’s chat on Keybase — chrisremus or Telegram — @chris_remus

Follow on Twitter — @ChainflowPOS

Email —

  •, a leading validator service in the staking industry, was founded by Wang Chun in the fall of 2018. is a globally distributed team that has come together to provide the best infrastructure for projects and delegators. also works with fellow validators and staking enthusiasts to share knowledge and educate the community on staking.


There are few projects (iServices) already building on the IRISnet, among which:

  1. PlatON: a trustless cryptographic-based computing network
  2. HashQuark: a blockchain mining pool
  3. HashGard: a digital finance ecosystem

Social media metrics

Social media activity:

The graph above shows the dynamics of changes in the number of IRISnet Twitter followers. The information is taken from

This is not financial advice.

Subscribe to detailed companies’ updates by Paradigm!

Medium. Twitter. Telegram. Reddit.



Paradigm is an ecosystem that incorporates a venture fund, a research agency and an accelerator focused on crypto, DLT, neuroscience, space technologies, robotics, and biometrics — technologies that combined together will alter how we perceive reality.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store