Dear Fuse Community,
We are thrilled to share an exciting update regarding the latest developments on the Fuse Network! The testing phase for the Consensus Contract on Sparknet has been completed, marking a significant milestone in our journey towards enhancing the network’s capabilities and reliability. This new proposal is to introduce the latest changes to the Fuse Mainnet.
Critical Update: Maximum Stake Amount Increased to 10 Million Fuse.
It is critical to mention that increasing the maximum stake amount will simplify the validation process for validators, enabling them to use fewer Nodes for Validation.
Increased Staking == Fewer Nodes.
What Does This Mean for the Community?
These changes are not just technical adjustments; they have far-reaching implications for every member of our community:
- Greater Participation Opportunities
The new contract deployment on the Mainnet will give community members more options for staking, particularly with validators who have previously reached their limits.
- Enhanced Security for Users
The enhanced maximum stake requirements improve network security, giving users more confidence in their transactions and data safety.
- Economic Incentives for Validators
For validators, a higher maximum stake value means a better possible return on investment. Validators who stake more FUSE tokens can earn more, rewarding them for maintaining high operational and security standards.
What Comes Next: Mainnet Deployment and Community Voting
After successful testing, our next step is to deploy the new Consensus Contract on the Mainnet.
How to Participate
Cast Your Vote when voting opens, and make sure to participate. Your vote helps shape the future of the Fuse Network.
Voting Process:
In line with our commitment to community governance, we are initiating a voting process to decide whether to adopt the proposed change. We invite all validators to participate in this decision-making process.
How to Vote:
Voting guide.
Ballot Information:
ID: 28
Ballot Transaction
Beginning Block: 30800871 - (With blocks occurring every 5 seconds, voting closes at approximately 2:00 AM UTC on Sunday, July 28th, 2024)
Closing Block: 30904551 - (With blocks occurring every 5 seconds, voting closes at approximately 2:00 AM UTC on Saturday, August 3rd, 2024)
You can vote for or against the proposed update by sending a transaction to the voting contract. To do so, use the vote function and enter the Ballot ID and your decision (choose 1 for acceptance, 2 for rejection) as the parameters.
Detailed information on the voting process can be found in the Fuse Documentation
Thank you for being an integral part of our community!
Best regards,
The Fuse Network Team