In March, Komodo will hold a community-wide vote to determine whether or not to implement a proposed change to the KMD active user reward.
The main objective of this proposed change is to upgrade KMD tokenomics by making the supply issuance more deflationary.
Voting Participation Details
Option 1 (Yes) — Reduce the active user reward amount to 0.01% APR in order to decrease the KMD total supply over time.
Option 2 (No) — Keep the active user reward amount at 5.1% APR.
On March 3, 2023, there was a snapshot of the KMD blockchain. Users who hold KMD in a non-custodial wallet like AtomicDEX either have received a special token called KIP0001 that can only be used specifically for voting. The amount of KIP0001 users receive is 1:1 based on how much KMD is held in your wallet. Note that if you hold KMD in custodial wallets (i.e. Binance exchange or other CEXs), you will not receive KIP0001, and CEXs aren’t allowed to participate in the voting process.
On March 6, 2023, we completed the KIP0001 token airdrop.
The poll ends at the first block notarized (inclusive) after March 31, 23:59:59 UTC.
The following wallets support/ will support KIP0001 tokens:
AtomicDEX Desktop — (Update: v0.5.7.1 with KIP0001 support released March 7)
AtomicDEX Mobile — (Update: v0.6.2 with KIP0001 support released March 10)
Komodo Ocean QT
Trezor via AtomicDEX Web — Instructions available here
Ledger via wallet.kmd.io — Instructions available here
***Note: If you're using Verus Desktop or Komodo Ocean QT, you'll need to follow additional instructions to import KIP0001 tokens.
Here are Verus Desktop instructions.
Here are Komodo Ocean QT instructions for Linux, Windows, and macOS.
KIP0001 token chain params:
-ac_public=1 -ac_name=KIP0001 -ac_supply=139419284 -ac_staked=10
To vote for Option 1 (Yes - reduce rewards), send your KIP0001 tokens to RReduceRewardsXXXXXXXXXXXXXXUxPxuC
To vote for Option 2 (No - keep rewards), send your KIP0001 tokens to RKeepRewardsXXXXXXXXXXXXXXXXYKRSuF
Here is the official proposal link on our GitHub.
You can find real-time voting results at vote.komodoplatform.com. The official results will be announced on our blog and social media channels.
If the proposal is accepted, the reduction in active user rewards will coincide with the annual network upgrade (start of dPoW Season 7) in mid-2023.
Official Results (Update: April 3, 2023)
Option 1 (Yes/ Reduce Rewards) is the winner of KIP0001. The KMD active user reward (AUR) will be reduced from 5.1% to 0.01%. The reduction will coincide with the annual network upgrade (start of dPoW Season 7) in mid-2023.
Thank you to everyone who participated in the KMD AUR reduction poll (KIP0001). We look forward to holding more Komodo Improvement Proposal (KIP) polls in the future.
13.2+ million votes total were cast.
✅ Option 1 — RReduceRewardsXXXXXXXXXXXXXXUxPxuC validated balance: 11,018,181.41742827 (~83.3%)
Option 2 — RKeepRewardsXXXXXXXXXXXXXXXXYKRSuF validated balance: 2,209,451.09962249 (~16.7%)
RReduceRewardsXXXXXXXXXXXXXXUxPxuC voters: 88
Average vote per address: 125,206.60701623034
RKeepRewardsXXXXXXXXXXXXXXXXYKRSuF voters: 67
Average vote per address: 32,976.88208391776