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  • [Parameter change] Reduce XCT inflation from 7.5% to 2%

    Summary Foundation proposes to reduce XCT inflation from current 7.5% to 2%.

    Background and Motivation
    Recent market events have resulted in less network activity across Cosmos and other blockchain ecosystems. To ease the XCT selling pressure Foundation proposes to reduce the inflation to 2%. Adapting the token emission relative to the overall network activity slowdown will also allow Foundation to invest more into product development.

    In case the proposal passes, the inflation will be reduced to 2% annually, which corresponds to ~10,000,000 XCT. Rewards ratio for XCT staking and XCT incentive for staking with Nodes will remain the same at 60/40 respectively.

    Discussions on increasing the XCT inflation will be resumed and considered as soon as the market situation becomes more favorable.

    posted in DAO Proposals
  • RE: Request To Add $TORI Network Into Citadel.One

    Hi Lain,
    Thanks for sharing the proposal. Let's see what community thinks about it.

    posted in DAO Proposals
  • XCT Buyback Proposal #5

    Summary Foundation proposes to use part of accrued rewards from DAO Nodes for XCT buyback from Pancakeswap pools.

    XCT buy back and burn have proven the effectiveness in the period of highly volatile market conditions. In the past months Foundation has made several buy back and burn transactions (links). We propose to continue using accrued rewards from validator commissions for XCT buybacks.

    XCT holders and stakers must benefit from community driven node ownership, thus XCT buyback and burn is the best solution and use case at this stage of development.

    At the moment of this proposal is counting 42 nodes in mainnets. All their addresses and balances are public and can be viewed in explorers.
    List of addresses:
    Akash – akashvaloper1a4zxtnu9k0zpl6p5hmduc5zz7xrm2dz8vm2ey8
    AssetMantle – mantlevaloper1y4ycv888ja5ya8qtw8mqe2l0fvt9amlfj9068h
    Axelar – axelarvaloper17q4fqv86dxkes384tnmrvjr9ljp2slunr6k00w
    Band – bandvaloper10grrhfawl98ypn5x25zmqcp8f20eg9sw56v3e0
    Bitsong – bitsongvaloper1knmj6ve4p4e2rl3wpj0rk9dswacr2swn75sc7a
    Cerberus – cerberusvaloper16rzknyz8xwcvt5eaw7g0kh0fv2rsa4naeqmugz
    Chihuahua – chihuahuavaloper1rgtfvfwx6kpf2vppur8l5g4y2c4acj74xzw6af
    Comdex – comdexvaloper1glgnuuckrkcvl90uk0ute8h0y4gdp5u8s0ahnt
    Cosmos – cosmosvaloper1lzhlnpahvznwfv4jmay2tgaha5kmz5qxerarrl
    Crescent – crevaloper1fdvy6rl6yz44hagtmah25g4vvxd76gh5t8mu8e
    Cyber – bostromvaloper1argjwgcplguenq4l92ggn06wadnfrz0eq6yysn
    e-Money – emoneyvaloper19aas63km0rq96dtuuvjkn76nyyj67qre477gt3
    Evmos – evmosvaloper1p5k54qk9jdamvw4r756g7dxsjarf6p0l3huk84 – fetchvaloper169hpfaau6ey8avzr6dk30f2y6j3gv8x5ds9657
    The Graph – 0x8d632dfc2454d624910fe982e85a5b15d2ae93c5
    G-bridge – gravityvaloper1nyj09trs40txcmemjsqy2l8f0lkga93esgtw02
    ICON – hx3aa778e1f00c77d3490e9e625f1f83ed26f90133
    Injective – injvaloper1hsxaln75wjs033t3spd8a0gawl4jvxawn6v849
    IOST – citadeldao
    IRIS – iva12f8cfz4qqtk3qxym94xme5qyqjl3gpw0hv2hs0
    Juno – junovaloper1lzhlnpahvznwfv4jmay2tgaha5kmz5qx4cuznf
    Kava – kavavaloper17u9s2fx5htqdsuk78hkfskw9s5g06tzqyl2m8j
    KiChain – kivaloper1umjuwrcn0vdx6w7nxaemv9s6ds0w860k5nrfyr
    Konstellation – darcvaloper1yu5nqdp8pdtz9q9n6h2wt6h5vsk9qhhsq92xn3
    Lum – lumvaloper1vujcasxr8nh77yv20dw4lgdkkrkk7krvss8xhh
    Oasis – oasis1qzu358mpd4z5frmrq6vnwq87cqfvdmfxh5ax57cj
    Osmosis – osmovaloper1lzhlnpahvznwfv4jmay2tgaha5kmz5qxwmj9we
    Persistence – persistencevaloper1tv288tg8fa0a53742949m4swph0x2mfg7jsc22
    Regen – regenvaloper15t7cmpmlgzllvs2wv4zly3lhsd0yd02ktppmsm
    Rizon – rizonvaloper1t7g0jeqhh46jkpyhfjnwsa2fr35k4zjrp35dzc
    Secret – secretvaloper1x76f2c2cuwa4e3lttjgqeqva0725ftmqvgvfnv
    StaFi – 33vpeihzksu2HGtYqjNB9aZbrbwfqNsUC4ZAbMMGmKsXtgPo
    Stargaze – starsvaloper1qv2tdjma7dcg6jmgawwd0aajjcx89rqca0cqgr
    Starname – starvaloper1y0w5qhdf6aj90u7knykdetqus4nc2axgkrt8vn
    Sentinel – sentvaloper1wmeez9g4tepgfnt66989tf4j2zzfwckfhgy0gh
    Sifchain – sifvaloper1nh90hjeljehpcmuvu3ldw59842kvhgn286nv8k
    Stride – stridevaloper1md2j38ls8hg94vjfafu0a2p9htwlkjmhux9e4v
    Tezos – tz1fUyqYH7H4pRHN1roWY17giXhy1RvxjgUV
    Umee – umeevaloper148lf9ndu40fmy44ku74v65lqp8mwqej9nz0s54
    Wanchain – 0xa49a146ddf3c4529fd9bb993e6fed9311588a418

    More detailed information about nodes and XCT token can be found here and here.

    Forum discussion will be concluded on Oct. 20 and will be submitted on-chain right after.
    In case on-chain tx passes if so, buyout and burn events will be happening in multiple batches.
    In order to avoid front-running DAO Foundation will not disclose buyout exact time, however will release a report after the process is completed.

    posted in DAO Proposals
  • XCT Burn Proposal #4

    Summary Foundation proposes to burn 5mln XCT (8% from circulating supply) accrued from periodical buy backs.

    Background Validator Service is expanding. Currently there are over 40 validator nodes running in different networks. Being the main’s revenue stream, validator nodes collect a fixed % of commission fees from staking rewards. Half of all accrued tokens are used for XCT token buy back. At the moment of writing of this proposal Foundation has bought back 5,000,000 XCT.

    XCT burning reduces the token supply making XCT a deflationary token in accordance to its whitepaper.

    XCT buyback treasury:
    Previous XCT burning transactions:
    July, 19 –
    May, 13 –
    April, 1 –

    Forum discussion will be concluded on Oct. 20 and will be submitted on-chain right after.

    posted in DAO Proposals
  • RE: Independent wallet platform

    Interesting requests.

    1. Keplr.Metamask only sign up (without email) is coming pretty soon, may be early September
    2. As for setting a custom node, tbh we were considering cloud nodes and such but decided to move in a slightly different direction. is more general-user-centric now, meaning that such functionality wouldn't be in a great demand. However, once our SDK is ready and Dev Center is up and running, this option can be considered, especially if there's a demand from advanced C1 users.
      Would love to hear from others too!
    posted in DAO Proposals
  • RE: Mobile phone as signer

    2FA with mobile phone is technically possible and this has been already discussed once somewhere in the chat. However, such functionality will require a lot of time and work, and is not currently in our priority, so we will keep it in mind, but without strong user demand I would't expect it any time soon.

    posted in DAO Proposals
  • RE: Make coin managment more intuitive

    Hi Felix. Thanks for your proposals. We discussed them with the team. The idea to create all addresses and then hide/show them on the frontend (sidebar) is an interesting idea. Added it to our waitlist.

    posted in DAO Proposals
  • RE: Minimum amount for autorestake app

    Hello @atreyuu! Thanks for submitting a proposal on the forum.
    While I think we can consider changing the restake amount for some networks, we believe that 0.01 is a bit too low. Here are the reasons:

    1. First of all we will spam the network with numerous and numerous transactions that will be happening every block.

    Imagine users with big stakes, that accrue 0.01 each block, so the platform will be initiating transactions for one user every 7-12 seconds. Imagine same for hundreds or thousands of users.

    1. Another reason is that no matter the restake amount, the transaction fee is always +- the same. With such an amount of restake transactions we will be paying a lot of commissions ( is paying all transactions on behalf of users no matter what validator they are staking with).

    We would suggest waiting a month or so, collect data on the restake app usage and then decide on each network specifically. Also, let's see the feedback and thoughts of other members and continue the discussion then.

    posted in DAO Proposals
  • RE: Server error when staking xct - Error ServerError: Returned error: operation is not available

    Hey @similiken, that's right the issue was fixed. The staking problem appeared for those accounts that voted on the first governance proposal.
    Yesterday we relaunched it and the issue was automatically resolved.
    Sorry for the inconvenience!

    posted in FAQ & Feedback