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Introduction

Blocknet is a self-funded and community-governed project. Decentralization defines the template for group decision-making and is self-managed through a 2-part governing system consisting of Service Nodes and Superblocks. There is also additional funding aside from the Superblock, which is explained under Community Funds.


Superblock

Superblocks are special blocks that occur every 43,200 blocks, or approximately once each month. On each Superblock, up to a maximum of 40,000 BLOCK can be minted to fund the project. It's important to note that only the total amount of BLOCK requested by passing proposals will be minted, so if no proposals pass then no BLOCK will be minted in the Superblock.

To request funding from a Superblock, a proposal must be submitted to the network prior to the Superblock. Service Node operators then have the opportunity to review these proposals and vote on each proposal with either a ‘yes’ or ‘no’ to approve or decline funding.


Passing Criteria

For a proposal to pass and receive funding:

  • The amount requested must be 40,000 BLOCK or less.
  • Votes in favor must be greater than votes against by at least 10% of the total number of Service Nodes.
  • The proposals that pass are sorted in a descending order list by the sum of yes votes minus no votes.
  • If multiple proposals have an equal sum of yes votes minus no votes, those are sorted randomly.
  • If there are not enough funds remaining in the Superblock for a proposal to be paid out, it is skipped (not paid out), and the next proposal in the passing list is checked for qualification.
  • Multi-month proposals are voted on each month and are treated in the same manner as normal proposals in the ordered list.
Voting Turnout Yays Required Max Nays Allowed
100% 55% 45%
80% 56.25% 43.75%
40% 62.5% 37.5%
20% 75% 25%
10% 100% 0%
<10% cannot pass cannot pass

Superblock Value Calculator

BLOCK dollar value: $

Superblock value: $0

Superblock Dates

Superblock Estimated Date
950400 June 4, 2019
993600 July 4, 2019
1036800 August 3, 2019
1080000 September 2, 2019
1123200 October 2, 2019
1166400 November 1, 2019
1209600 December 1, 2019
1252800 Decemer 31, 2019
View more Superblock dates (Jan 2020 - Dec 2021)
Superblock Estimated Date
1296000 January 30, 2020
1339200 February 29, 2020
1382400 March 30, 2020
1425600 April 29, 2020
1468800 May 29, 2020
1512000 June 28, 2020
1555200 July 28, 2020
1598400 August 27, 2020
1641600 September 26, 2020
1684800 October 26, 2020
1728000 November 25, 2020
1771200 December 25, 2020
1814400 January 24, 2021
1857600 February 23, 2021
1900800 March 25, 2021
1944000 April 24, 2021
1987200 May 24, 2021
2030400 June 23, 2021
2073600 July 23, 2021
2116800 August 22, 2021
2160000 September 21, 2021
2203200 October 21, 2021
2246400 November 20, 2021
2289600 December 20, 2021

Community Funds

In addition to Superblocks, there are also Community Funds. These funds were created after a staking protocol exploit was successfully stopped and it was voted on by the community to create various funds. An additional proposal was voted on (and passed) to also add the retrieved exploited funds to the Community Funds instead of those funds being burns, as was originally planned.

The current balance and use of these funds can be tracked in the Blocknet's Financial Tracker. Usage of these funds go through a 3-of-5 approval process by the following fund approvers:

  • Dan Metcalf (@atcsecure)
  • Arlyn Culwick (@synchist)
  • Michael Madgett (@michael)
  • Jeff Madgett (@86b)
  • Hanni Abu (@hanniabu)
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