On Friday the 21st of May, 2021, the first-ever Particl CCS proposal to require on-chain voting was officially approved by Particl stakeholders with an overwhelming majority and participation rate! This marks a significant milestone for the Particl ecosystem as it moves towards a more community-powered form of governance.
Let’s break down the numbers in more detail and go over this proposal’s implications.
The Results Are In!
Voting for the Delegated Output Claim Management proposal was a significant event for the Particl project. It was the first time a CCS proposal required to be approved through a vote and, for this reason, served as a great showcase and test of Particl’s on-chain voting technology.
We are happy to report that the proposal was approved by Particl stakeholders, scoring a mindblowing 99.97% approval rate (minimum required is 60%) and a 63.17% participation rate (minimum required is 20%). Indeed, the vote lasted for 5,040 blocks, with 3,184 of them voting in favor of the proposal and just one block voting against it.
What About the Claim Process Now?
With the proposal officially approved by Particl stakeholders, now’s the time to get moving! As such, we can now announce that the claim period will begin tomorrow. To help you understand the output claim process and its timeline, we will publish, tomorrow, a blog post on Particl News containing all the necessary information to submit your outputs and get them validated so that they can be re-enabled after the upcoming hardfork.
It’s important to be aware that the output claim process will be separated into two phases; the pre-fork and post-fork phases.
If you submit your outputs for validation before the upcoming hardfork and the cutoff date, then you’ll be part of the pre-fork phase and will be able to use your currently disabled coins once the hardfork goes live. This, of course, implies that your claim gets approved.
Keep in mind that, because builds need to be ready days or even weeks in advance before the hardfork (because of the pre-notice required from exchanges), the actual cutoff/deadline date to submit outputs and be part of the pre-fork phase is actually going to be several days or weeks before the hardfork. We will clearly communicate this deadline before its time.
If you submit your outputs after the upcoming hardfork, then you’ll be part of the post-fork phase. You’ll still qualify to get your outputs re-enabled, but you’ll have to wait for the next hardfork to come, which is, at the current time, not scheduled.
For this reason, we strongly recommend submitting your outputs as fast as you can.
Headed Towards Community Governance
It is safe to say that this on-chain voting exercise, the first of its kind on the Particl network, was a resounding success. It highlights just how active Particl stakeholders are and how willing they are to actively participate in the governance of the project.
With this highly encouraging participation rate in mind, you can expect more proposals requiring a vote to be published on the CCS in the weeks, months, and years to come. Some of them may come from the Particl team itself, but anyone can submit a proposal of their own and request a vote for it.
On that end, the Particl team would like to reiterate its position that it fully supports and encourages quality community initiatives. It is by having a good mix of team and community proposals, as well as a significant diversity in the ideas proposed on the CCS, that Particl will achieve optimal levels of decentralization!
Second Proposal Voting to Begin This Week
The Delegated Output Claim Management proposal is only the first proposal to require on-chain voting of many to come. As such, a second proposal, the Decentralized Treasury Model proposal, will begin its voting phase at the end of this week.
Keep an eye on Particl News as we will publish, later today, a blog post explaining in detail the timeline for this proposal and its voting phase. If you still have questions, comments, or general feedback about it, please leave a comment on its Github page before it gets merged into the voting phase.
Once again, we thank you for your overwhelming support and participating in such numbers in this critical first on-chain voting process for Particl. We are as confident as ever moving forward with a more community-powered form of governance and are pretty excited to see all the great things we will achieve together!
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