Proposal Name: chain-upgrades
Cost: 10 BLOCK
mnbudget vote db9b9a1f6ec391d7eb5be32cca0e4b40e70772a30a537caf0b54926a219d4810 yes
For the upcoming migration to Bitcoin’s v18 basechain, there are some additional changes that need to be made:
- Service Node registration will require an address with 5k BLOCK rather than a single 5k BLOCK input. This change is needed to allow Service Node collateral to be staked.
- Service Node voting needs to be moved on-chain to prevent abuse and excessive network spam. Since voting is moved on-chain, voting will incur a normal transaction fee.
- In the current system there is also what’s call a “final budget”, where a submission is manually made 2880 blocks prior to the Superblock for finalization. This final budget system is being removed.
- Proposal submissions will end 2880 blocks prior to the Superblock to prevent last-minute proposals being submitted. Voting will also end 60 block prior to the Superblock.
- For a proposal to pass, 60% of all votes on the proposal must be “yes” and the number of “yes” votes must be at least 25% the total number of Service Nodes participating in voting.
- Transaction fees will be paid out to stakers instead of being burnt to further incentivize staking.
Summary of changes:
- Snode collateral requires 5k address instead of 5k input
- On-chain voting
- Voting fee (normal tx fee)
- Proposal submission ends 2880 blocks prior to Superblock
- Voting ends 60 blocks prior to Superblock
- Remove final budget
- Proposal passing criteria (see above)
- Transaction fees will be paid out instead of being burnt