Jun 24, 2020
A transparent promise to the Sesameseed community
Transparency is at the core of Sesameseed. From the very beginning Sesameseed has remained committed to earning the trust of its community through its core beliefs of open communication, transparency of operations, and reward sharing. We are proud to have delivered on these beliefs with technological efforts like the multichain SEED token, through its automatic compounding, swap and redeem utilities, the DEX and on-chain ONT/ONG swap on Ontology, staking contracts, and the recently launched Sprout.
Today we are proud to announce that Sesameseed is opening up its books to the community to review anytime. Through Sprout you can track Redeem accounts, Operation Expense accounts, and SEEDGerminator accounts.
Sesameseed earns node rewards from represented blockchains through community staking. Rewards are distributed to the community in the form of SEED. The SEED allocated to each blockchain is split between the community of native stakers, Sesameseed OPEX accounts, and SEEDGerminator accounts.
There are several different types of accounts included in this transparency section.
Types of accounts
Redeem Accounts
Contain all the native tokens that are backing the redeem value of SEED. If funds have been moved from a redeem account in the past (to another redeem account), the address remains in the transparency section so the transactions can be viewed on the blockchain.
OPEX Accounts
The portion of daily minted SEED allocated for Sesameseed operating expenses.
SEEDGerminator Accounts
The portion of daily minted SEED allocated to SEEDGerminator. (Currently all this SEED is distributed on the Ontology blockchain, but this can change and will be reflected in this transparency section.)
Burn Accounts
These are blackhole addresses where SEED is sent when they are burned. SEED is burned when it is redeemed or swapped between blockchains. Burning SEED removes them from existence.
Vault Account
This account exists on TRON since SEED was the first token ever created on the network, before the existence of TRC20 smart contract tokens. Daily rewards on TRON are “minted” using this vault account. The amount of SEED in this account is not counted in the circulating supply of SEED. When SEED on TRON becomes a TRC20 token and SEED can be minted via smart contract, the SEED in this address will be burned.
For the latest version of this content, please visit our knowledge base.
Tell us what you think
Review these accounts on Sprout and share your thoughts in the Telegram community group or on any of our social media channels.
If you haven’t yet signed up for Sprout, do so now to start maximizing your staking rewards.
