If you’ve been keeping up-to-date with the project lately, you know that April 2021 has been an important and disruptive one (in a good way 😉) for Particl. Indeed, the Particl team has been undergoing significant internal changes and preparing up for a brand new, more community-focused approach.
As you would expect, such an important shift requires a lot of work to be done internally and structurally, which doesn’t always show up publicly until a later time. The good news, though, is that this “later time” has come, and a lot of what’s been in the works in that regard has started to surface in April. You can expect the month of May to be the same, only at a more accentuated level.
This update will recap all the major events and developments that have happened last month. Let’s get started!
Table of Contents
- Moving Forward With Post-Inflationary Measures
- Increased Focus on Community Governance
- Decentralized Treasury Model
- First Proposal to Require a Vote Now Live on the CCS
- Particl V3 Progress Report
- New Particl Desktop and Core releases
- Work on BasicSwap Resumes
Moving Forward With Post-Inflationary Measures
One of the most important news this month was the publication of the Post-Inflation Solutions and Roadmap blog post. It breaks down the proposed solutions to re-enable temporarily disabled anon and blind outputs and the strategy used to re-establish the blockchain’s integrity with the correct supply moving forward.
To get up to speed with that information, simply follow the Particl News link located at the top of this section.
Note: An update has been added to the above blog post to indicate how to collect and submit outputs using the new Particl Desktop 2.3.6 release.
Increased Focus on Community Governance
Over the past weeks and months, the Particl project has initiated a significant shift towards a more decentralized method of governance. This shift aims at putting you, every community member, into a more important position of power over what happens with the project.
As such, in April, the Particl team has released a critical blog post detailing how the project would be moving forward using the combination of an on-chain voting tool and the CCS proposal system.
The on-chain voting system, which uses staking to register votes on the blockchain, will be used to vote on proposals put forward by the community on the CCS.
If you’ve got a great idea, project, or service you want to provide to the Particl ecosystem, you can now publish a CCS proposal for it and get it voted on by the community.
For all the details on the on-chain voting system and to know how it ties in with the CCS system, check out this blog post available on Particl News.
Decentralized Treasury Model
To empower the community even more and foster an even more efficient governance model, the team has suggested introducing a new decentralized treasury model that could fund the project in a self-sustainable manner.
This decentralized treasury model, which will be published as a CCS proposal in the coming days, suggests increasing the yearly staking rate (APR) from 2% to 8%. Then, 50% of the block rewards would go directly to stakers, and the other 50% would land in the decentralized treasury model.
The Particl team, like other community members, will then be able to craft proposals and claim funds from the treasury for various projects that benefit the Particl ecosystem. Of course, any proposal that requests funds from the treasury will need to be voted on and approved by the community using the on-chain voting system mentioned in the section above.
In May, the team’s going to publish, on Particl News, an important blog post explaining its vision moving forward, how it intends on claiming and using funds from the treasury, the nature of a new legal entity created for that purpose, and so on. Keep your eyes peeled on Particl News for when that blog post lands.
First Proposal to Require a Vote Now Live on the CCS
April also saw the first CCS proposal ever to require an on-chain community vote to be activated. Indeed, created out of firm community feedback, the Delegated Output Claim Management Proposal suggests nominating a group composed of a few Particl team members to receive, process, and validate individual claims to re-enable temporarily disabled outputs.
Once validated, the proof would be forwarded to a second group, this one composed of a few community members, to confirm the validated claims. This second group acts as an additional layer of checks and balances to ensure no claim is wrongly approved without proper evidence of its authenticity.
It seeks to put in place a more streamlined, simple, efficient, and sure-fire method to reactivate outputs, one that would not ultimately be dependent upon the assumed participation and goodwill of stakers.
This proposal, which is currently in its discussion phase, will be opened up for voting in the next few days. If you have any questions or comments, you can visit the AMA/FAQ thread dedicated to this proposal on Reddit by following this link.
Particl V3 Progress Report
As Particl V3 nears completion for its mainnet release, a development progress report has been published during April. It explains, in detail, what’s been completed since the last report, what’s being worked on, and also what’s left to complete for the next testnet round to go live.
Interestingly, the report also mentions that all slowdowns and issues mentioned in the March 2021 Project Update have been resolved and that Particl V3 development is back at its usual, full pace. You can now expect more frequent development updates regarding Particl Desktop (Particl V3) and other components of the Particl ecosystem.
New Particl Desktop and Core releases
To help users submit their outputs to the team, new Particl Core (0.19.2.6) and Particl Desktop (2.3.6) releases have been pushed to Github. These releases will also ease and simplify the process for users to submit individual claims to re-enable temporarily disabled anon and blind outputs when the time comes for it.
As always, it’s highly recommended to update your Particl client to the latest version.
Work on BasicSwap Resumes
Now that the code for the second hardfork and the tracer script is complete, Particl Lead Core Developer Tecnovert has resumed working on BasicSwap, Particl’s upcoming atomic swap based DEX.
BasicSwap, which enables trustless and private swaps between different cryptocurrencies (not just in and out of PART), is poised to play a vital role within the Particl ecosystem moving forward. Not only will it provide more resilience against the power exchanges hold over Particl, but it’ll also make acquiring PART easier, more accessible, and entirely anonymous. An integration of BasicSwap into Particl Desktop is planned and is currently in progress (more details on that in a later Particl News blog post).
As development continues, BasicSwap will soon be opened for testing as a public beta. Stay vigilant as it will be announced on Particl News when ready.
Get prepared for May as things are about to lift for Particl. You can expect the voting periods for two major proposals to go live, which will mark a new phase for the Particl project, one more focused on community governance and decentralization.
Things are about to get exciting and move forward at a much faster pace than the past few months. With crypto going crazy, Particl’s finally putting the odds on its side to have its day under the spotlight!
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