🇺🇸1st DeFiChain Improvement Proposal: Bitcoin anchoring rewards

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In the white paper, every 60 blocks 5 DFI is set aside to be paid out to successful Bitcoin anchoring. The paper does not mention the source of the 5 DFI. This proposal is to address the source for anchor funding and make it clear and trackable.

Don’t really understand what Bitcoin Anchoring, Proposals, etc. are all about? You can find everything explained in great detail in our official whitepaper.

Proposal

Proposal explained in video form

0.1 DFI from each mined block to be accumulated in a smart contract address. This 0.1 DFI should be coming from the community part of the reward (i.e. 10% of block rewards).

If this proposal passes: block reward would look as follows:

  • 180 DFI as mining reward for masternode
  • 19.9 DFI goes to community fund
  • 0.1 DFI goes to Bitcoin anchor reward smart contract

Upon successful anchoring, the entirety of the smart contract holding (in DFI) will be awarded to the anchorer.

Upon approval, this proposal will be implemented during the next hard fork.

Important Information regarding the proposal

As stated in our last update, the DeFiChain Foundation has shut off all its own masternodes; DeFiChain cannot and will not be voting.

This means that the outcome of this proposal is 100% in the community’s hands.

We do hope, however, that you do accept this proposal in order to enable continued smooth operation of the DeFiChain Foundation with no concerns about where the anchoring DFI will be coming from.

Also, we do not yet have a set date for when the votes will actually be starting.

This announcement is merely to inform you about the upcoming vote sometime soon and to encourage discussion and feedback from you, our community.

So please, start talking about and discussing this proposal on Telegram and GitHub. We would love to hear your feedback and any concerns you might have.

As to how the voting actually will take place: you will get an email from us in time explaining how exactly you can vote, no matter if you are running your own masternode or staking on a platform like Cake.

With that said, you should definitely also check out our 2nd proposal and we are looking forward to hearing your opinions!

Join the discussion now and give your feedback on GitHub and Telegram!

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Bringing #DeFi (Decentralized Finance) to #Bitcoin

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