Once again, it has been a busy two weeks in the Proof-of-Stake Blockchain Environment. Multiple Mainnets went live, we’ve had a lot of ICON news. These are the key highlights:
Stakin Keeps Global Push with Crypto Education
KAVA CDP is live!
NPoS on Polkadot
ICON P-Rep Delegation Program Resubmit
ICON Main P-Reps Lowered Global Commission Rate
Coda’s Public Testnet 3.2b is live!
Solana TDS Stage 5
We’re proud to say that our Daily ICX has genuinely made the push for global crypto education. Since the ICON P-Rep Meeting of May 16th, 2020, we’ve been able to add so many different languages. We want to thank all our partners and the ICON Community for all the support.
To join, let us know in our Telegram channel:https://t.me/stakinofficial
On June 14th, the highly anticipated Collateralized Debt Position Platform (CDP) from KAVA went live! The DeFi Lending Platform features $BNB collateral — the top 10 digital assets according to CoinMarketCap — USDX loans, and minting rewards. Minting USDX rewards is delayed until July 1st. The reason for this is that the Kava Stability Committee was created to quickly adjust a set of Kava parameters in response to system conditions. For comparison as to what this platform looks like, think MakerDAO but for the Cosmos Ecosystem.
Exciting news from the Polkadot Network! Starting on June 18th, 2020, the network is now officially Nominated Proof-of-Stake (NPoS). The Web3Foundation said it is confident in the stability of the network after PoA, and had reached the sufficient number of validators, which made it possible to transition to NPoS successfully. Decentralization will be a key focus during the new phase; steps will be taken to increase the active validator set from 20 to at least 100 active community validators. Read the NPoS explanation here.
There has been a lot going on in terms of P-Rep governance changes. And on June 12th, the ICON Foundation announced that they would open up the application process for the P-Rep Delegation Program to the community. All teams requesting delegation support will have to submit their applications on the ICON Community Forum. Even though this does affect the June delegation program, as it delays it by a few weeks, the Foundation beliefs it is necessary to create more transparency within the ICON Network. All re-submitted applications needed to be received before the deadline of June 19th.
Check our application here.
In other ICON News, after the ICON Foundation announced its recommendation for the Main P-Reps to lower the global commission rate to 29.2% down from 36% to start, P-Reps are making continuous effort to reduce i_rep to 14,000, which will result in a P-Rep Commission Rate of approximately 17.5%. Over the last week, Main P-Reps lowered the global commission rate to 17.9% down from 19% last week. Stakin has been actively reducing our i_rep and reached 13.600 on June 5th.
On June 9th, 2020, the Coda ‘Bugspray’ Public Beta Testnet 3.2b went live. This Testnet makes it possible for the community to try out the key roles on the blockchain such as block producer and SNARK worker. It is possible to get to know the operating protocol, learn how to stake, and contribute to Coda’s network resilience. Testing of different projects is possible as well, and you can earn Testnet Points. For more information on the Coda Testnet, click here.
Tour de Sol (TDS), Solana’s incentivized testnet event, is an opportunity to flex validation skills, earn tokens, and secure the Solana network. After a successful fourth stage, the game has moved to Stage 5. The fifth stage started on June 10th at 10 am PT and will have a duration of approximately four weeks. Stage 5 focusses on Smart Contracts and Optimistic Confirmations.