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Blocknet Proposal Introduction & Guide

on Thu Nov 02, 2017 8:48 am
Introduction

The Blocknet governance community voting system was implemented when the Blocknet chain reached 86400 blocks. This was the first Superblock creation. The creation, use and distribution of this Superblock will be voted on by the community(service node operators only). New Superblocks of up to 4,320 BLOCK can be created every 43200 blocks or approximately every following month. Submission of a proposal costs 50 BLOCK, which should be added to every proposal's budget to be reimbursed if successful.

In order for a proposal to pass:

  • The amount requested must be 4320 BLOCK or less.
  • Votes in favor must be greater than votes against by at least 10% of the total number of Service Nodes.
  • The proposals that pass are sorted in a descending order list by the sum of yes votes minus no votes.
  • If multiple proposals have an equal sum of yes votes minus no votes, those are sorted randomly.
  • If there are not enough funds remaining in the Superblock for a proposal to be paid out, it is skipped(not paid out), and the next proposal in the list is checked.
  • Multi-month proposals are voted on each month and are treated in the same manner as normal proposals in the ordered list.

There is also something called a 'final budget', which needs to be submitted between 2880 blocks and 28 blocks before the Superblock. By default Service Nodes automatically vote yes on final budgets. Moving forward, proposal voting will end 2880 blocks before the Superblock since the final budget locks in the proposal vote counts. This will be announced in the newsletter as well as in the forum.

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How to Submit A Proposal
For how to submit a proposal, please follow this link :
https://docs.google.com/document/d/1Arcd8GRTNLF5PxNST3cT_cyWW6BoxeRa6qseYYm9Gp4/preview

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Voting On A Blocknet Proposal From the Wallet
For more detailed directions on how to vote, please follow this link:
https://docs.google.com/document/d/1d0AS4lFVB7rkigE5hlVE58wWHO7gQCrNCmatUDRZwRg/preview

The process of voting takes place in the Service Node wallet. Follow these steps to see all current proposals:

  • Open wallet and go to Tools > Debug Console. The debug console will open in a new window.
  • In the console, type in the following:
    Code:
    mnbudget show

  • The proposal-hash for each open proposal can be seen here. To vote, type the following into the console:
    Code:
     mnbudget vote [PROPOSAL-HASH] [YES/NO]
    PROPOSAL-HASH = The hash listed for the proposal you are voting for
    YES/NO = Your choice for whether you are in support of the proposal
    Example:
    Code:
    mnbudget vote c5e08153d22387c7824ced0383e67007880b034c76f73c37e6f14fda61904ae8 yes

  • Hit return and your vote will be registered
  • Repeat this process for every proposal you are voting for



Voting On A Blocknet Proposal For Multiple Nodes At Once
Code:
mnbudget vote-many [PROPOSAL-HASH] [YES/NO]


Voting On A Blocknet Proposal From the Terminal
Follow the same steps as for voting from the wallet except prepend all command with "blocknetdx-cli".
Examples:
Code:
blocknetdx-cli mnbudget show
blocknetdx-cli mnbudget vote c5e08153d22387c7824ced0383e67007880b034c76f73c37e6f14fda61904ae8 yes
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