Reapchain (REAP) — Governance Voting Schedule and Method Disclosure Regarding Foundation Holding Adjustment and Bridge Service Support
Hello, this is Reapchain.
Reapchain aims to implement decentralization by adjusting the current holdings of the foundation and has decided to adjust and distribute the remaining quantities in the market. The final implementation of this decision by the foundation will be determined through an official vote, as previously announced. Please refer to the previous disclosure for details.
*Previous Disclosure Links:
KOR (Naver): https://blog.naver.com/reapchain/223279916795
In connection with the above, the confirmed voting schedule and methods are as follows. Governance voting and the bridge service can be conducted through the Reapchain dashboard.
Reapchain Dashboard and Gitbook Links
*Dashboard: https://dashboard.reapchain.org/
*Gitbook: https://reapchain.gitbook.io/mainnet/
Governance Voting Schedule and Method
Voting Period: December 28 (Thu) 00:00 ~ December 31 (Sun) 15:00
Voting Method: “For” or “Against” Voting
Voting URL: Scheduled for item registration on December 22 (Separate notice for voting link after item approval)
Voting Items: Adjustment of existing Reapchain Foundation holdings and additional distribution
a. Target Quantities for Adjustment: Ecosystem Incentives, Company Reserve, Standing Committee Node
b. Adjustment Scope:
The standing committee node holding, which operates at 2% of the total issuance, will be adjusted to 1%.
The adjusted 1% of standing committee node quantity will be attributed to the foundation, and the attributed quantity will be used for node ecosystem security and operation costs, immediately included in circulating supply upon voting approval.
50% of the Company Reserve quantity of 200 million will be included in circulating supply for research and development expenses upon voting approval.
c. Comparison of Adjusted Quantities in the Event of Voting Approval for Current Foundation Holdings
Bridge Service Support (*Bridge Opening Date: December 27 (Wed))
The Reapchain Foundation has completed the mainnet launch in October and the integrated testing for the bridge transition. The bridge service will be supported on December 27 (Wed), one day before the start of governance voting.
Wallet Connection: Connect With Wallet — Connect With Wallet — ReapChain Mainnet (gitbook.io)
*Required Installed Wallets: Keplr, Metamask
Keplr Guide: Keplr — Keplr — ReapChain Mainnet (gitbook.io)
Metamask Guide: Metamask — Metamask — ReapChain Mainnet (gitbook.io)
Bridge Service
*Bridge URL: Scheduled to open on December 27 (Wed) (Separate notice for link on the opening day)
*Bridge Guide: https://acrobat.adobe.com/id/urn:aaid:sc:AP:ff90c39b-9aba-47aa-9f07-e66bf0125644
Governance Voting Guide
*To participate in governance voting, it is essential to stake the “erc-20 based REAP” (cREAP) by converting it to REAP through the bridge.
Staking and Delegation
After converting cREAP held in a personal wallet to REAP through the bridge, voting is possible by delegating to one of the standing committee nodes.
*Staking Guide: Staking — Staking — ReapChain Mainnet (gitbook.io)
Governance Voting
The voting period is from December 28 (Thu) to December 31 (Sun). Please participate without any confusion.
*Voting Guide: https://acrobat.adobe.com/id/urn:aaid:sc:AP:cf5a14dd-2c3e-45e3-83c1-e4e2372045fd
Please refer to the above information and actively participate in the voting. Reapchain Foundation will continuously strive to enhance the value of REAP.
Thank you.
