Thank you all for your attention and support for community governance. Recently, the community spontaneously initiated a governance vote on the disposal plan for the remaining FC of the foundation, which received widespread participation, and community members expressed their opinions through various channels.
Currently, the total amount of FC is 21 million pieces, and as of now, approximately 17.48 million pieces have been issued, with about 3.52 million pieces remaining unissued. Based on fully listening to the community's voice, the foundation has decided to implement the following plan:
The foundation plans to mint all of the remaining approximately 3.52 million FC and exchange it unidirectionally for CFX. After the exchange is completed, the minting rights of FC will be destroyed. The exchange and destruction work will be completed as soon as possible and will be announced after completion.
The approximately 3.52 million CFX obtained from the exchange belongs to the foundation. This part of CFX will be staked in the ABC mining pool and locked up to obtain voting rights. In the future, when the community needs to participate in Conflux Governance voting, the community can initiate an internal round of FC voting first. Based on the results of the FC vote, the foundation will execute on behalf of the community according to the voting type, and the voting rights obtained from the locked-up assets will be put into the official voting on Conflux Governance. The interest generated from staking will be used in the future for rewards such as testnet maintenance or community contribution incentives. The remaining interest each year will continue to be staked in the mining pool and participate in Conflux Governance voting.
Once again, thank you to every community member for your support.
Conflux Team
