Information Regarding Proposals and Governance

Monday 9 July 2018

Hey Crave Community!

We just wanted to give some information regarding superblocks, proposals, and our governance system. Glad to announce that everything is now working perfectly. Please read below.

Yesterday, the second superblock occurred and funds were automatically distributed to the three accepted proposals between blocks 259200-259202. The two large funds are being held in Multisignature addresses, which means that in order for any coins to be released, the transaction needs to be signed by two of three selected Crave team members.

Ledger Listing Fund multisignature address: http://explorer.crave.cc/address/bbMcWSA2ohKW2gVtzzaqZwBf1wzdP7fF3t

Exchange Listing Fund multisignature address: http://explorer.crave.cc/address/bQmnAtuPHMs4Uda8fceNbLEpbxWA26xZBa

A total of 15000+5000+300=20300 Crave were distributed to the owners of the associated proposals. With a maximum superblock award of 43200 Crave, this means that 47% of the possible budget was used.

To clear any confusion, we have a constant block reward of 10 Crave, not 11. The reason we say 11 is to account for the theoretical 100 % use of the budget. So for this past superblock period, it is as if we had an equivalent block reward of 10.47 Crave. The next period could have an equivalent block reward of 10.25 Crave or 10.99 Crave – it depends on the proposals that are passed.

Hopefully that makes sense, but please let me know if you have any questions regarding this.

One month ago, our first superblock occurred to distribute funds to multiple accepted proposals. Within the period of 4320 blocks before the superblock, all accepted proposals are supposed to become finalized, which is necessary for the second finalization fee to be paid and for fund allocation. However, this never happened for the first set of proposals, and therefore it is as if the superblock never happened. No funds were created and none were sent to the accepted proposal addresses.

Since then, we located the problem as to why this happened and fixed it (verified by this most recent superblock). The fix was somewhat hidden and something that there isn’t much documentation on – sort of a ‘secret’ among the system the that required some deeper research into the code.

This past month, we were seeing if we could force the finalization of those first proposals in order to create and release the funds, but that does not seem to be possible. Therefore, over the next two superblocks, the same proposals are going to be submitted for voting and funding again. This will allow new proposals to be submitted alongside these older ones.

Since all of those proposals were submitted by team members, it’s not too big of a deal – only a slight inconvenience. If the proposal called for a payment, we will still pay it now and use the proposal as a means to be paid back at a later point in time. This means that there shouldn’t be any delay in the proposals due to that first misfiring superblock.

To conclude this rambling speech here, please feel free to submit a proposal now if you have any ideas that you would like to contribute!

Two resources for this are…

  1. Our Proposals page of the website (https://crave.cc/proposals) where you can see the current proposals, their status, and instructions on how to vote
  2. Our Crave Forum (https://forum.crave.cc/) where you can have discussions regarding proposals and find further information.
Monthly Development Update – June 2018
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