ReapChain (REAP) — Governance Voting Results Announcement Regarding ReapChain Foundation Holdings Adjustment
Hello, this is ReapChain.
In order to achieve decentralization, ReapChain has decided to adjust the current holdings of the foundation and distribute the remaining holdings to the market. A vote has been conducted to endorse this decision, and the details are disclosed as follows.
*Previous disclosure links:
KOR (Naver): https://blog.naver.com/reapchain/223292240340
Voting Results
Governance voting took place from December 28th (Thursday) to December 31st (Sunday), and we are announcing the results. The voting results can be checked through the following link.
Voting Results: Passed
Voting Results Link: https://dashboard.reapchain.org/gov?status=3
Details of the Passed Proposal: Adjustment of the existing ReapChain Foundation holdings and additional circulation
a. Targeted holdings: Ecosystem Incentives, Company Reserve, Standing Committee Node
b. Adjustment scope:
Adjust the maintenance holding ratio of Standing Committee Nodes, which operate at 2% of the total issuance, to 1%.
The adjusted 1% of Standing Committee Node holdings will be attributed to the foundation, and these holdings will be immediately included in circulating supply upon voting approval.
Include 50% (100 million) of the Company Reserve holdings (200 million) in circulating supply for research and development expenses. The foundation reserve will also be immediately included in circulating supply upon voting approval.
c. Comparison of adjusted holdings after voting approval
Future Schedule
The adjusted quantities, “Company Reserve 100 million” and “Standing Committee Node 380 million,” will be immediately included in circulating supply. These holdings will be used for purposes such as securing the node ecosystem, operating expenses, technology, and research and development, as previously disclosed.
ReapChain Foundation will continue to strive to enhance the value of REAP.
Thank you.
ReapChain Team
