The seventh proposal has been voted tight, and the eighth proposal has also started voting!

The world is in turmoil, and the civic republic is also accelerating. I only reported the content of the seventh proposal to you three days ago and shared my views, and voted in favor of the seventh proposal yesterday (January 11, 2021). On the same day, leafwind ( @leafwind) has proposed the eighth proposal, and this proposal also quickly got enough proposal deposit to start voting. By the time of writing (on the evening of January 12, 2021), in just one day, five validators had already voted in favor, accounting for about 34% of the overall votes. The validators are full of vitality and strong execution, which is very rewarding! !

The main content of the eighth proposal is to lower the proposal deposit threshold, from the current 1 million LikeCoins to 100,000 LikeCoins. In a very humorous way, it took only about half an hour for the eighth proposal to receive enough proposal deposit. The situation may make people feel a little strange, and they do not understand why this proposal is proposed.

In fact, for each proposal, the proposer and the proposal supporters need to pay the proposal deposit. If the total proposal deposit is less than the threshold within the 14-day period, or the proposal is rejected (more than 33.4% of the overall votes voted against and rejected (No With Veto) ) vote), the proposal deposit paid by the proposer and the proposal supporter will be confiscated in full and distributed to the Community Pool for use. The original intention of setting the proposal deposit threshold is to maintain a certain quality of each proposal that appreciates the Citizens Republic, and each proposal has a minimum support before it is put to the vote. Otherwise, if there is abuse, it will waste energy and even cause voting fatigue. Therefore, the setting of the proposal deposit threshold cannot be too low, but in fact it cannot be too high. If it is too low, it is easy to be abused. If it is too high, it will have the opportunity to exploit the opportunities of the proposals of LikeCoin holders with insufficient resources. Also, because the amount is too large, it will take more time to raise and dispatch LikeCoins, which will damage the efficiency of proposals and affect development.

When LikeCoin chain initially set the threshold of one million LikeCoin as the proposal deposit, the price of LikeCoin against the US dollar was relatively low compared to the current price, which was about one-tenth to one-fourth of the current price. As a correction, taking into account It is expected that the value of LikeCoin will grow in the long term, and the deposit threshold for the proposal is lowered to 100,000 LikeCoins. Lao Mao thinks it is reasonable, so he plans to vote for it on Thursday. Comments or discussions are welcome, but preferably before voting.

By the way, I will update the seventh proposal. By the time of writing, eight validators had already voted, and all of them were in favor, accounting for 51.31% of the overall votes. It appears that the 7th proposal has a very good chance of passing. When the seventh proposal is passed, the entrusted interest rate will be greatly increased. Dear LikeCoin holders, Are you ready?