Blocknet Proposals FAQ

Introduction

The Blocknet governance community voting system will be implemented shortly. When the Blocknet chain reaches 86400 blocks this will represent the first Superblock creation opportunity. The creation, use and distribution of this Superblock will be voted on by the community.  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.

Writing a Blocknet proposal for the forum

Proposals should be submitted to the forum and should use the following or similarly informative format:

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Proposal Name
Brief description of proposal

- Rationale and further explanation of proposal & background info

- Technical explanation/agenda of feature/proposal (if applicable)

- Teams/person undertaking the work

- Cost assessment

- Fund custodians

- Voting links

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By sticking to a similar format your proposal should accurately convey the relevant information, notably: what is being proposed, why it is being proposed, how much it will cost, where the funds will go once created, and links for service nodes to submit their votes.

Voting on a Blocknet proposal

The process of voting takes place in the Service Node wallet. To see all current proposals go to the debug console of the Wallet-QT and type “mnbudget show” or enter the terminal and type “blocknetdx-cli mnbudget show”. The proposal-hash for each open proposal can be seen here. To vote, go to the debug console of the Wallet-QT and type “mnbudget vote proposal-hash yes/no”, or enter the terminal and type “blocknetdx-cli mnbudget vote proposal-hash yes/no”. (Replace the words “proposal hash” with the actual hash and then choose either yes or no). Hit return and your vote will be registered.

FAQ

How many votes are required to pass a proposal?

In order for a proposal to pass there are two requirements, at least 10% of active service nodes must vote and Yaes must have a majority.

What is the 50 BLOCK fee to submit a proposal and why does it exist?

To submit a proposal a 50 BLOCK collateral fee is required. This deters spam and stops unfeasible proposals from being submitted. Currently this is a set rate, but because of the large portion of the potential Superblock fund lost to reimbursing this fee, it will likely be adjusted in future.