Proposal #3 at the C4E network has been passed. Let’s learn more about it!
We have successfully passed a new proposal to officially launch the Strategic Reserve Delegation Program v1.0.
The proposal passed with an amazing voting turnout of 92.37% with 100% of votes for YES!
This is a clear signal of trust and support for the team’s activities from the validators’ community.
Big Thank you for your continuous support!
The main objective of the Strategic Reserve Delegation Program (SRDP) is to make the C4E network more decentralized and secure by incentivizing validators to contribute to the development of the ecosystem.
Before the introduction of SRDP, the C4E team had to make arbitrary decisions about delegation to a specific validator set, which didn’t support or even negatively impacted decentralization.
Delegation program
Under SRDP, Chain4Energy will allocate 54,000,000 C4E from the Strategic Reserve Pool, which will be split into four categories: Eligibility, Early supporter, Objective, and Subjective.
The Eligibility, Subjective, and Early supporter categories will be evaluated and assigned manually by the core team, while Objective criteria will be evaluated automatically based on Key Performance Indicators (KPIs) that are tracked and evaluated on a monthly basis.
The Subjective category includes parameters that cannot be evaluated on-chain, so the core team will score them individually on a quarterly basis.
The detailed specification of the Strategic Reserve Delegation Program v1.0 can be found on the C4E network’s website.
The program has been designed to encourage validators to contribute to the development of the Chain4Energy ecosystem and reward them for achieving high KPIs.
Early supporters who joined the network at the very beginning will also be rewarded with an additional delegation, as long as the validator is eligible for the SRDP.
Summary
In conclusion, the introduction of the Strategic Reserve Delegation Program v1.0 is a significant step towards making the C4E network more decentralized and secure.
By incentivizing validators to contribute to the ecosystem, the C4E team is ensuring that the network remains robust and healthy in the long run.
The clear guidelines and evaluation criteria of the program provide transparency and fairness to all validators participating in the program, which is crucial for building trust and confidence in the network.
Next steps
According to the description in the documentation, we are about to prepare for the first round in Q2 SRDP which is going to start on 01/04/2023.
However, we have to perform the transition from the current state to the SRDP criteria.
The preparation will be performed in 4 categories:
- Early supporters: The list of eligible validators will be announced next week for the review. Once confirmed, the proper delegation will be executed.
- Eligibility: Everyone who is eligible can receive 40k C4E delegations. The list of eligible validators will be prepared next week.
- Objective: Waiting for the official start of the program
- Subjective: The C4E team next week will issue a form dedicated to validators who can provide information on the contributions they have made to the Chain4Energy project so far.
