Home Coins Band Protocol (BAND) BCIP-1: BandChain GuanYu Mainnet Official Upgrade Proposal | by Sorawit Suriyakarn |...

BCIP-1: BandChain GuanYu Mainnet Official Upgrade Proposal | by Sorawit Suriyakarn | Band Protocol | Sep, 2020


With the success of the GuanYu Testnet #3 upgrade and stable network performance over the past weeks, we shared a draft proposal for the Wenchang to GuanYu upgrade on Discord for our validators to review and provide feedback. Given that there have been no concerns raised, we are excited to share that the core Band Protocol development team has submitted the first BandChain Improvement Proposal (BCIP-1) to propose upgrading BandChain from Wenchang to GuanYu.

  1. If the proposal passes, we will proceed to upgrade the network at block 4,172,935 (expected to be on or around October 14, 2020 2:00 pm UTC) and GuanYu chain will start 1 hour precisely after the upgrade time.
  2. If the proposal fails, we will not upgrade our mainnet and collect feedback to submit a new proposal that fixes all raised concerns.

This is the final step for BandChain to upgrade from Phase 0 Wenchang to Phase 1 GuanYu, bringing full decentralized oracle functionality and allowing validators to fulfill data requests and serve as cross-chain data oracles.

  1. Vote Yes, if you agree to upgrade the network
  2. Vote No, if you disagree with the network upgrade
  3. No (with veto), if you strongly disagree with this proposal
  4. Abstain, if you do not intend to vote in favor or against the proposal but accept the result of the vote
  5. Do not vote (do not submit transaction), if you wish to delegate your voting power to the validator who will vote on your behalf

As this is the first governance proposal on BandChain, feel free to raise any questions or concerns regarding the proposal in our Discord group.

  1. More than 40% of total bonded tokens vote on this proposal.
  2. No with veto votes must less than one-third of the total votes.
  3. Yes votes are more than the sum of No and No with veto votes.

We are looking forward to seeing the reception among our community of delegators, validators, and partners who will bring blockchain applications another step closer towards adoptions through Band Protocol.



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