Syscoin Governance

The community at work!

  • - Governance proposals payout schedule: every month (43,800 Blocks)
  • - Block Rewards are 38.5 Syscoins deflated 5 percent per year, of which 10 percent is allocated to the Superblock(3.85 Syscoins)
  • - Governance funding per round (168,630 Syscoins per month)

Syscoins governance ensures that there is a decentralized, unbiased system to manage and fund the platform. Unlike previous not-for-profit foundations that were tasked to maintain core protocol and promotion of the coin, Syscoin governance is administered by masternode operators that are heavily invested in the future of Syscoin. These masternodes are the most dependant to date, as they, unlike miners, cannot reuse their asset for any other coin or purpose.

Syscoins decentralized governance system powered by masternodes, ensures that the promotion and betterment of Syscoin is their number one focus. Masternodes must vote through a transparent public portal, on the development and expansion of the Syscoin network, and budgeted funds are allocated accordingly. Each project that gets voted on and is passed, is taken from the total budget and paid directly to the person who won the proposal to carry out the proposed project. The payment is paid out in a decentralized fashion, using a superblock, once a month. A superblock receives 10 percent of each block reward saved into a monthly budget for proposals. Governance promotes a fast turnaround and essentially indicates an approval to proceed on that specific task.

To ensure long-term stability, allocating funds through Syscoin ensures masternode operators become contractors who work for, and are compensated through the network. A portion of the block reward is held in escrow, in the names of the operators, and not released until voting is complete. This maintains the promotion of the coin and the network, as operators who sell their coins can be picked up by more interested individuals who will then acquire the right to vote. This system allows for the network to be capable of sustaining itself, maintaining growth and allowing for appropriate adjustments and changes which are not dependent on specific operators.

"A Community initiative to help out fellow Sycoiners" - bigpoppa

Donate: bigpoppa or SUZzZvWoKUqSHUAS8RjnhComZ4DUXfMjh1

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