Proposal 10. Support Program for Small and/or Oversea Nodes

In order to promote decentralization of ChainX network, and at the same time help the expansion of node distribution outside China, it is necessary to provide a certain degree of support to small and medium-sized nodes and overseas nodes. Encourage them to create and maintain communities around their nodes as to expand the whole ChainX community.

Target Nodes

Outlying Nodes

  • those nodes that far away from the most validators on the Chain
  • active in the community
  • Make outstanding contributions to the development of ChainX

Every quarter(noted as Period), the Parliament selects out :

0–1 node as categaory A;

0–2 nodes as category B

Small Nodes

  • small and medium-sized nodes
  • active in the community
  • Make outstanding contributions to the development of ChainX

Every quarter(noted as Period), the Parliament selects out :

0–1 node as categaory X;

0–2 nodes as category Y

During that Period, these nodes can take following programs:

Interest-free PCX loan for self-delegation (available for X, Y)

The parliament lent a certain amount of PCX to the target node as its self-collateralization (the loan amount is N times as their own self-collateralization). :

  • Node in Categroy A,N=1 (Maximum 10,000PCX),NO interest at first period, can expand to second period, but will charge interest on theoretical voting income during the second period, Redemption by Parliament after expiry;
  • Node in Categroy B,N=0.7 (Maximum 5,000PCX),NO interest at first period, can expand to second period, but will charge interest on theoretical voting income during the second period, Redemption by Parliament after expiry;

When the target node has misconduct or the self-collateralization amount changes lead to non-compliance, the parliament has the right to recover the loan in advance.

Voting Support (available for A, B, X, Y)

The parliament votes a certain amount of PCX to the target node directly, and the amount is M times as their self-collateralization:

  • Node in Categroy A,M=2 (Maximum 15,000PCX), Redemption by Parliament after expiry;
  • Node in Categroy B,M=1.5 (Maximum 10,000PCX), Redemption by Parliament after expiry

When the target node has misconduct or the self-collateralization amount changes lead to non-compliance, the parliament has the right to unstake the votes in advance.

Discount for missing-blocks (available for A, B)

Keeping the overall network protocol untouched, the partial penalty for missing blocks can be returned to the target node. Parliament would keep tracking the leakage of target nodes using technical ways and special funds are reserved. once penalties for missing blocks are detected, a curtain amount of PCX would be automatically transfered to their jackpots. The amount is L times as the penalty:

Node in Categroy A,L=0.75;

Node in Categroy B,L=0.50

When the target node has misconduct, the parliament has the right to shutdown this discount in advance.

Community referendum page

How to Vote:

The user transfers 0 PCX to the designated address below to support for or against Proposal 10

For:

5To9YgbfermFF1VMRYvXpnseDiahUzDwrjRRMMoYQNJsU4hE

Against:

5To9NZMfkfCJqRSutyWunPwitPAviTNcnG54kQqnxMCxAiZg

Proposal 10 referendum end time

Block height 12118800 (Estimated time 2020–03–04 18:00:00)

Rules

1. The voting effect of users is counted by the total balance of the voting account

2. During the referendum, users can change their voting opinions at any time, and the last vote is valid

3. As of the end of the voting, the proposal was approved if the number of votes was greater than 2/3, otherwise the proposal was not approved

About ChainX

ChainX is the largest Layer-2 network of Bitcoin, based on Substrate, and will evolve into the Polkadot Secondary Relay Chain.