As you may already know, last week was one of the most important weeks for the ICON project. We finally released our interoperability technology, BTP 1.0
, a key piece of technology for our ecosystem and one of the major milestones from our whitepaper. This technology will allow ICON to fulfill its goal of hyperconnecting the world and bridging private and public chain ecosystems.
Last week, we also hosted the P-Rep Governance Meeting #4
to discuss the Contribution Proposal Paper, the P-Rep Commission Rate, and IISS Implementation. It was a great turnout and conversation and we encourage the community to check out the discussion!
Lastly, we launched the application process for the June P-Rep Delegation Pilot Program
. Remember with this program, the ICON Foundation will use a portion of its ICX treasury to delegate to teams we believe are contributing to the network in areas such as development, marketing, and community building. If this sounds like you, please be sure to apply by June 1st! And we released our May roadmap update
including new feature requests from the community!
54% of circulating supply staked vs. 38.4% at the end of 2019. 35% of the total supply staked. ~14% annual staking reward
- Another +4% weekly growth in wallets. Balance wallets have increased 3x since September
- Main P-Reps lowered the global commission rate to 29.2% down from roughly 36% to start the week. We continue to suggest lowering i_rep to 14,000 which will result in a P-Rep Commission Rate of approximately 17.5%.
Daeki Lee hosted the 1st community developer call. If you are a community developer who would like to contribute to the ICON ecosystem and this initiative to stimulate developer activities, please join the next session. Details here.
As you can see by the many items accomplished this week, the team is hard at work. Let’s keep the momentum going.
Min Kim, ICON Foundation Council Member