ICON Foundation

New Governance Updates in July and Token Requirements

Greetings ICONists,

In June, we continued to work on the replace that we beforehand introduced to the neighborhood in Could. And at this level, we’re nearly completed with the event and at the moment are commencing testing and QA for stabilization of the replace.

Beneath is the projected timeline for the discharge:

  • 07/14: Launch the replace to Pagoda, Yeouido
  • 07/20: Launch replace to exchanges
  • 07/27: Launch replace to Mainnet

We may even replace ICONex Chrome, ICONex Cell, and ICON Tracker to assist the brand new options.

Replace particulars

Primarily based on neighborhood requests, we have now labored on a number of options to reinforce the governance expertise of the ICON community. Primarily based on this suggestions, we’ll quickly add P-Rep personal key dualizing, staking, and delegating features in SCORE, a number of unstaking intervals, and a operate to extend the variety of delegations from 10 to 100. Particulars of every characteristic will be discovered beneath.

P-Rep Non-public Key Dualizing operate

  • Permits P-Reps to register a further key, the important thing used to provide and validate a block, to the ICON Community.
  • At present, when an ICONist tries to register as a P-Rep, the ICONist’s key will robotically be registered as a key for the node, and the keystore needs to be put into the docker.
  • With this replace, ICONist can register a separate extra key for P-Rep nodes after they attempt to register as a P-Rep.
  • The ICONist public deal with can be used to take part in governance, obtain reward, and solely the node key you’ve gotten registered are included within the docker.
  • Subsequently, the ICONist’s public key doesn’t enter the docker, however solely the important thing of the node enters the docker. It may be understood that the proprietor of the node and the important thing for node operation are separated.

Staking and delegating operate in SCORE

  • Permits SCORE to stake and delegate on to P-Reps.
  • Since ICON Community has a block reward for voting, if a SCORE can vote to a P-Rep, the SCORE can also obtain a reward and distribute it to the ICONists who deposited ICX to the contract.

A number of Unstaking Durations

  • Permits ICONists and SCOREs to have separate schedules for unstaking.
  • At present, an ICONist can solely submit one unstaking request to the community. With this replace, ICONist will have the ability to submit a number of unstaking requests (as much as 1000).

Extension of the variety of delegation slots

  • Permits an ICONist to vote as much as 100 P-Reps.

Extra developments in the course of the month

We continued to make progress on extra IRC token requirements for the ICON community. We hope to launch extra data on these requirements within the coming weeks.


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