Proposal 44: Hardworking validators, you are blessed!

The content of the proposal is not detailed, but the related article by @Daisy is very detailed. The proposal is here , the other materials of the proposal are here , the PDF of the details is here (AR) and here (IFPS)

The basic content of the proposal is to propose to entrust an average of 100 million $Like in the community pool to some validators who participate in the upgrade of Likecoin Testnet-5 (Testnet 5) on time and can complete the node upgrade within 72 hours after the mainnet upgrade. The entrustment period is six months. After six months, the entrustment is withdrawn and the proposal is completed. Why is it so unfair that it is only given to some validators? Because the proposal proposes that the special commission of bamboo is only more than 5% of the commission, and the validator who has the last 66% of the voting rights in the order of the amount of commission is eligible. Eligible validators need to complete the upgrade at 23:59 Hong Kong/Taipei time (UTC+8) today (the entire network of Testnet 5 has been upgraded on April 14, and Lao Mao also participated). Add the operator address on the mainnet (mainnet) to your validator data record for verification (the proposal can be placed in the personal validator URL of the LikeCoin mainnet browser), if it has not been provided before, it should be provided by Kuaishou (see There are verifiers not provided), and those who have not yet upgraded in Testnet 5 should do so as soon as possible, because the deadline is only eleven hours. During the delegation period, the validator needs to respond to CDC's questions and provide information when Jailed (when in jail), otherwise the delegation may be terminated. The old cat believes that if such validators are tombstoned during the period (the most dead, and can no longer perform services), the delegation should also be stopped immediately.

After the testnet 5 upgrade, preparations for the mainnet upgrade will be made. This upgrade is very important to LikeCoin, and many important functions will be added. I hope the mainnet upgrade will also be successfully completed.

For validator-related or CDC-related proposals, Lao Mao generally tries not to vote or abstain from voting. Although there is some glue, it can avoid the suspicion of conflict of interest. For this proposal, the old cat can vote with confidence, because the old cat is not eligible (crying). The benefits of this proposal can increase the preparation of validators for the mainnet upgrade, improve the security of the mainnet upgrade, and reduce the risk of accidental upgrades. At the same time, it can also be considered as a reward for the efforts of smaller validators, and it can also increase income for the community pool. And it will strengthen the security of the entire LikeCoin chain (the delegation has increased). Is there a cost to that? The cost is that the delegation income of the overall delegator and unqualified validators will be diluted as delegation increases. With the current entrustment situation, the income will be reduced by about 16%. Lao Mao believes that with the current delegation situation, the increase in the total amount of delegation is actually beneficial to the whole. The security and continuity of the mainnet are the lifeblood of LikeCoin (Imagine the impact of the network shutdown on the blockchain - Lao Mao has experienced it himself recently. ), the upgrade of the technical level of the validator is an important asset for any blockchain. As for the increase in community pool revenue, it is also an important fuel for the development of LikeCoin. So the old cat supports this proposal and will vote for it. If you have other opinions, the old cat is always welcome to discuss and advise.

By the way, Lao Mao paid a proposal commission for this proposal. In fact, Lao Mao supports discussions on most of the proposals, and progress can only be made if there are discussions. Therefore, when there are resources (for example, there is no need to increase delegation for validator services in other services to supplement the active list), part of the payment will be made. The commission supports the presentation of the proposal and an idea that supports the development of governance in the appreciative civil republic. However, the old cat paying the proposal commission for the proposal may not necessarily support the proposal or vote in favor of the proposal. Please understand to avoid misunderstanding.