IMPORTANT ANNOUNCEMENTThe Solaris team and community would like to congratulations to every stakeholder of Solaris including the Development team, the pools, the volunteers, escrow, contributers, community members, twitter fans and everybody else who has been involved with Solaris in one way or the other.
This decentralised community couldn't have come this far without your support.
We have fully migrated from nist5 algorithm to the new Xevan algorithm and we shall celebrate this successful migration with the launch of a new website by tomorrow.
We would like to take this opportunity to address a few pertinent matters.
Budget system of SolarisThe decentralized governance system which was incoorporated into the Solaris network to be controlled my masternode holders and which also entails the budget system will be effected from about block 86,400 which will start soon.
This system will be fully under the control of masternode holders. In other words masternode holders will be resposible for deciding to whom 10% of block reward of Solaris will be given every from Solaris and for what it will be used for through voting with the wallet.
We therefore encourage you to decide carefully and vote responsible because solaris money is in your control.
Anybody can propose a budget but only masternodes can vote.
@Schyter of @Viscolex will release a guide about how to make a proposal or vote with a masternode wallet.
Issue with Solaris on CoinsmarketWe believe many of you may have noticed that the Solaris wallet on coinsmarkets.com is no longer functional.
According to what i understood from what they told us, they lost about 5000 XLR during the chain split. We do not know how this loss of 5000 XLR happened but we understand that in some very rare situations there may have been a "double spending" at their expense.
We have tried our best to technically solve the issue by providing them with the same solution that everybody else tried and got their wallets fully synced to the right chain without losing any XLR.
However according to the exchange team they have tried but still havent been able to get the 5000 XLR back to their wallet.
We advised them to henceforth always close deposits and withdrawals a few hours before and after an upgrade and to ensure that the upgrade is successful before reopening deposits and withdrawals in order to curb such attacks.
This loss on coinsmarkets is not our fault but according to coinsmarkets the XLR has already been lost.
Coinsmarkets on the other hand proposed two options:
a) Solaris team should either pay them the full 5000 XLR and users funds will be restored and everything goes back to normal
b) They deal with the situation on the own and delist Solaris from the exchange after paying users funds.
This second proposal has been brought up for the communtiy to express their opinion on the matter and to decide without the infuence of the solaris team whether they want us to pay coinsmarkets from the remainder of the premine (option A) or not (option B)
Burning of premineThe migration of Solaris from nist5 to xevan is successfully over and as we can all see, the remainder of the the solaris premine which is unswapped is 168,449.61620955 XLR.
The initial plan was to burn this premine remaider. However there have been proposals from some members of the core team and from several members of the community to keep some of the premine remainder in other to ensure continuous and active development.
The previous funds in the solaris coffers has always been kept safely with Dabs escrow service and has been judiciously used solely for the betterment of Solaris in situations including but not limited to:
payment of severs and domain names
payment of freelance webdesigns and maintenance
payment of logo designs
payment of other designs as seen on twitter, bitcointalk and on website
payment of cryptodevelopment which was significant payment
payment of exchange listing of xevan which was very expensive
payment of contributors and volunteers for tasks such as writing up guides and other writeups
payment of developer for android wallets
payment of participants in twitter campaign
payment for escrow service charges
payment of participants of bitcointalk signature campaign for all the time that the campaign run
payment for listing on cryptopia which was expensive
payment for listing on coinexchange which was also expensive
payment for listing on masternodes.pro for promotional purposes
payment for listing on masternodes.online also for promotional purposes
and more
As it stands, there isnt much remaining in our coffers in the custody of Dabs escrow service and for that matter some of the most recent payment have been made from the personal wallet of SolarisDev which he considered as doantion to solaris community.
One instance of such payment from his personal wallet was the funds to hire the new webdesigner and developer to make the new website which is scheduled to launch sometime tomorrow.
Such sacrifices needed to be made because the funds in the Dabs escrow isnt sufficient and also becasue the bitcointalk signature campaign cannot continue if the funds in the escrow is depleted due to new website
We agree with the suggestion that was put forward by some of the community members, volunteers and contributors to keep some of the premine remainder because there are more short term developmental and promotional activities which cannot be implemented without funds.
The new website is not the only upcoming news for Solaris. There are some core team members who are working hard on getting us listed on another good exchange.
Frankly speaking if there isn't going to be sufficient funds in our coffers then we must as well postpone work on exchanges and other activities to the next few months when masternode holders decide to vote for a number of months for funds to be available from budget system to be used for exchanges and for other promotional activities
We will once again post a link to the escrow wallet being held by Dabs escrow service and another link to the premine wallet address for you to see what is available.
We would like to propose that a quarter of the remainder of the premine should be kept for the solaris core team and the community, for developmental, promotional, listings and other activities that may arise in due course.
This third point has been brought up for the communtiy to again express their opinion on the suggestion and to decide without the infuence of the solaris team whether they want a portion of the premine to be kept with Dabs or not.
The rest of the premine will be burnt and removed form circulating supply
Dabs Escrow Service address:
https://solaris.blockexplorer.pro/address/SeWjH3QSKtV1JjsxNQY3WthYz5EESEyHh2Solais (xevan) Premine address:
https://solaris.blockexplorer.pro/address/SRdsg8EVs9xTCVFNAJc4ad6eDs6AacxJC8We would like to assure all of you and ourselves that Solaris is a great cryptocurrency and this is just a new dawn.
We will experience more growth than you will imagine in terms of security, scalability, technlology, practical use cases, community growth, and much more.
The price boost that will follow will only be icing on the cake.
As long as we have each others support we will continue to attain new heights
Thank you for your support!
Honestly I see this as a perfect opportunity to help fund development AND reward the community holders for their dedication to XLR, I'm definitely for 25% being kept for development, as the same time I propose we follow the Bitsend teams example with BSD and BTX by taking another 25% for an airdrop over the next year to XLR holders it was awesome seeing that 3% come in every week on BTX and it did wonders for both adoption and price. We could burn the remaining 50% or award it as a milestone bounty for a community achievement such as getting a Bittrex add or some major partnership announcement; you know something to that degree to entice community drive but otherwise good job team on progress so far! Keep up the good work!
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