The voting period for the Network Treasury and Inflation Adjustments proposal (ID 25) is now scheduled to start around the end of the month of September, most notably from block  2,010,550 to 2,020,630.

Network Treasury and Inflation Adjustments
Dr. Kapil Amarasinghe

As a reminder, this proposal (ID 25), authored by community member and Particl advisor Dr. Kap, proposes a hard fork for the Particl Blockchain with the expressed aims of:

  • Removing the decentralised treasury model which currently directs 50% of the block reward to a community managed fund that has been used to support development of the Particl project since 2019;
  • Immediately lower the current per annum inflation rate of the Particl blockchain from 7% to 3.5% until June 2026;
  • Further lower the per per annum inflation rate by 0.5% per year over the following 5 year period until the per annum inflation rate is 1.0% (June 2031);
  • To initiate a further community discussion and protocol vote around the time per annum inflation is 1.0% to decide if this should be further lowered to 0% and if so how.

If this proposal (ID 25) passes, the annual reward rate for stakers will effectively remain unchanged at 3.5% for the current year.

Indeed, although the network's total issuance will be halved from 7% to 3.5%, the hardfork also eliminates the 50% allocation of rewards that currently goes to the network treasury. This change redirects the full 3.5% issuance to stakers, keeping their reward rate stable.

Nature of this Proposal

Community Governance Explained — Particl Academy latest documentation
Get familiar with the community governance of the Particl DAO. Decentralized, private, and autonomous decision-making.

Because this proposal (ID 25) suggests a modification to the consensus of the blockchain, the voting parameters of a Protocol Consensus Changing Proposal applies, which means the vote requires a quorum of 20% of all the blocks during the voting period and an approval of 75% or more, and will last approximately two weeks (10,080 blocks) instead of just one for proposals that do not suggest changes to the consensus.

You can find more information here.

Prepare for Vote

Now’s the time to prepare your node to vote on this important proposal (proposal ID 25).

To do so, follow the steps included in this Particl Academy guide, selecting ID #25 when setting up your voting decision: https://academy.particl.io/en/latest/part-guides/partguides_voting.html

For reference, when setting up your vote, either choose 0 to abstain from voting, 1 to approve the proposal, or 2 to reject it.

⚠️ Note: Because the previous repository in which Partyman was hosted is not maintained by its creator anymore, it is mandatory that you change the git remote URL by typing this command in your Partyman folder: git remote set-url origin

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