Major Upcoming Votes: DeFiChain Improvement Proposals 7, 8, 9, 10 & Community Funding Proposals 2, 3, 4, 5, 6, 7
Important Information regarding the proposals
Since the DeFiChain Foundation isn’t running any masternodes themselves, the outcome of all proposals is entirely in the hands of the community.
We do hope, however, that you’ll accept the DeFiChain Improvement Proposals in order to further incentivize the growth and development of DeFiChain.
Besides the four DFIPs, there are also six CFPs up for vote. These are independent community projects submitted by the respective teams. More on that can be found below.
Voting for all DFIPs and CFPs will commence on Wednesday, 14 April 2021 at 12:00 UTC, and will end on 20th April 2021 at 12:00 UTC.
Before making your decision, we encourage you to discuss your thoughts and ideas about these proposals on Telegram and on GitHub with the wider community. We’d love to hear your feedback, questions or concerns you might have.
Regarding the voting procedure: you’ll soon receive an email from us, explaining how you can cast your vote, whether you are running your own masternode or staking on a platform like Cake. If you operate your own masternode, you can also find more instructions on Github: https://github.com/DeFiCh/dfips/blob/master/README.md#how-to-vote
DeFiChain Improvement Proposals
Foundation-owned DFI was initially set aside for use towards adoption and development of DeFiChain. With the upcoming establishment of on-chain governance of DeFiChain and the intention of further decentralization of DeFiChain, DeFiChain Foundation should no longer play the custodian of such coins and should therefore be destroyed.
The white paper laid out the initial block reward to be 200 DFI, guaranteed for the first 1,050,000 blocks, approximately 1 year in, assuming block time is 30 seconds.
Some minor adjustments over issuance have been made over several DFIPs to incentivize anchoring and liquidity mining.
The current emission rate of DFI is 258.1 DFI per block, with some of it funded by airdrop fund.
Community development fund is currently being accumulated at the rate of 19.9 DFI every block at address dZcHjYhKtEM88TtZLjp314H2xZjkztXtRc.
Community fund proposals are currently being put up on DFIPs GitHub repo.
The goals of this proposal are:
- To allow masternodes to collectively manage and own community development fund.
- To create a more accessible and streamlined process of making community fund requests.
Non-fungible token (NFT) is getting quite some media attention lately.
While NFT is not quite DeFi, NFT if implemented on DeFiChain could be really interesting as it would be implemented as Native NFT, secured by underlying blockchain consensus, unlike NFTs on Turing-complete blockchain.
If implemented, NFT on DeFiChain should be implemented in accordance to ERC 721 for wide community acceptance. An optional library could be included to provide a simple interface for sites, such as OpenSea, that supports ERC 721 to easily support Native NFT on DeFiChain with the same interface.
Community Funding Proposals
Santiago Sabater has built a learning platform for DefiChain.
At https://defichain-explained.com/ the users can do courses to learn more about the basics, techniques and vision of DefiChain. There are currently two different lessons available and after registration you can directly start with them.
Daniel Klaiber and Arthur Eisener have implemented DeFiChain-Portfolio. With this tool DefiChain users can track their rewards and commissions of liquidity mining directly from the wallet of the DeFi app. To reduce data, the earnings are accumulated on a daily basis and also calculated to the fiat equivalent like USD or EUR. For data analysis purposes, the data is available in a graphical as well as tabular form. All data can be exported as csv files for further processing.
Dominik and Patrik Pfaffenbauer are actively developing a light, non-custodial wallet for iOS, Android, Mac, Windows and Linux (https://github.com/DeFiCh-WalletApp).
Smart DeFi Wallet is a non-custodial light wallet application that runs on iOS, Android, Windows, Mac and Linux. In its current stage, it is fully functional and already working.
The goal of this project is not just to provide a mobile application to the DefiChain ecosystem, it is much more than that. It includes many necessary components to further decentralize DeFiChain and move away from the Foundation, enhancing security and future possible projects. Our application solves one of the main problems the current desktop app faces: Our wallet doesn’t run a full-node, the whole infrastructure runs directly in the cloud.
The proposal is about further development of www.defichain-income.com, particularly:
- Revision and implementation of a new design with a professional designer to bring more responsiveness and user experience.
- Extension of the software by a backend with a node server and database to store data persistently.
- Implementation of a login functionality so users only have to enter the data once for all devices.
- Integration of prices from exchanges
- Further detailed visualization of crypto holdings, value and staking of liquidity mining returns over time.
- Adding further pool pairs (when added on DEX).
Robin Torque has set up a community-based Wiki, www.DefiChain-Wiki.com, which collects all relevant information about DeFiChain, wallets, masternodes, etc.
This Wiki has become the go-to place for newbies to educate themselves about DeFiChain. More people are also contributing their knowledge to the Wiki and are thus helping others simultaneously. In appreciation of what has been done so far and to make the wiki the standard of DeFiChain documentation, I would like to submit a CFP here.
We’ve seen a lot of development through the community projects, yet, just in the last few days, we’ve realized again how important moderators actually are.
They answer questions every day, help with technical problems and do this mostly for free.
This proposal therefore suggests that any moderator or certain individuals who stand out through their constant presence and support should be honoured with a small amount of DFI in the upcoming vote.
We welcome any feedback and look forward to hearing your opinion!
Join the discussion now and give your feedback on GitHub and Telegram!