Community Fund Locked In
Good news! The Community Fund soft-fork has locked-in. After almost a year and a half since the initial conversations began.
Good news! The Community Fund soft-fork has locked-in. After almost a year and a half since the initial conversations began.
Now there will be a seven day lock-in period and then the soft-fork will be activated (at block height 2,620,800). The reason for this seven day grace period is to give everyone who hasn’t already done it extra time to upgrade their wallet to the latest version.
After this activation block, nodes running 4.3.x have an increasing risk of ending up on a fork from the main chain, and forking will become unavoidable when the first payment request is processed.
So if you haven’t upgraded already, why not do it now with this link to the latest NavCoin wallets.
What’s changing?
NavCoin 4.4.0 is actually three soft-forks in one, because it contains two Community Fund related NavCoin Protocol Improvement Proposals - NPIP003 and NPIP005, plus the activation of the Community Fund itself. Here’s what this protocol update enables:
- Opening the Community Fund to accept submissions. Now the world’s first fully decentralised, dual-vote fund is ready to go.
- Doubling of the network contribution into the Fund to 500,000 NAV per year. Not only does it mean that when static rewards are enabled the 1:4 ratio of contribution to staking rewards is retained, but it should also mean there are more proposals being worked on and completed.
- Bundling together of fund payments from each block to once every 500 blocks. This will save space on the blockchain, by reducing the number of transactions over the network.
What’s next?
With 4.4.0 locking-in it’s time to start putting together your project ideas, building your team and submitting your proposals to the Community Fund. If you’d like some help creating with your project, or get feedback from other members before making your official submission, you can engage with the NavCoin community in a variety of ways. Here are four easy ways to get started:
- Post an idea or comment in the Community Fund channel on Discord.
- Head over to the NavCollab website, create a profile and write an outline of your idea.
- Go to Twitter and search #HumansOfNavCoin and add your idea into the comments - and remember to like and share your favorite content from other people too.
- The NEXT wallet built by community member Sakdeniz includes a built-in Community Fund proposal form. The NEXT wallet is available for free download now.
Download NavCoin Core 4.4.0 now.
This soft-fork which brings the Community Fund to life is a significant milestone for NavCoin. It’s a world first and something we can all be very proud of.
To guarantee you remain on the network, make sure you’re running the latest version before the end of the lock-in period - here’s the download link again: