53.9% of circulating supply staked vs. 38.4% at the end of 2019. 34.9% of the total supply staked. ~14.3% annual staking reward
- Another +4% weekly growth in wallets. Balance wallets have increased 3x since September
- Main P-Reps lowered i_rep to 37,762 from 40,030 the previous week. i_rep is confusing and widely misunderstood. Today’s newsletter focuses on the future of i_rep and how it affects overall voter rewards
- Markus from ICON Hyperconnect broke the news that the Korean congress decided to end the country’s infamous Accredited Certification after 21 years, which paves the way for new ID technologies such as ICONLOOP’s myID
- ICON Dapp Somesing partners with JYP Entertainment, a South Korean multinational entertainment and record label conglomerate
- Ricky Dodds, our head of strategy and communications, completed another great AMA with Crypto.com community
- ICON community activity continues to impress evidenced by our #1 rank in GALAXYscore
- ICX continues to be included as one of the Top Staking Coins in multiple third party sources
- ICON’s official Community Forum is become more active with over 30K increase in Page Views in the past month. COME JOIN THE DISCUSSION!
You may have noticed that we’ve been including the ICON network’s most recent i_rep score every week in our newsletter. What’s i_rep score and why is it so important? Yes, you’re not alone. There’s been a lot of confusion and misunderstanding by both voters and P-Reps alike. Therefore, we just released a blog post Path to Sustainable Economics: P-Rep Commission, which is a MUST READ for every ICONist because it directly affects your ICX rewards.
Most recent i_rep can be found in ICON Tracker’s P-Rep List
under the Governance dropdown menu. The current overall i_rep score is directly controlled by each P-Rep. Lower i_rep score means lower network commission taken by the P-Rep, which means more of the rewards are shared with the voters. However, the current design is unclear how much of the commission is taken by the P-Reps and how much rewards flow to the voters. We plan to change this and make the system more transparent.
i_rep is the second network issue our team is tackling after IISS 3.0. However, unlike IISS 3.0 which took months for just the proposal to pass, we plan to quickly resolve i_rep in a matter of weeks. In the meantime, we want to continue encouraging our voters and P-Reps to help continually lower i_rep.
Min Kim, ICON Foundation Council Member