After the Kore hard fork, most of the governance parameters of Cypress (Klaytn Mainnet) shall be changed through on-chain voting on the Klaytn Square. On the other hand, in order to maintain Cypress stable, adding and removing validators should be performed in a timely manner. In particular, this task should be performed when a CN needs maintenance or recovery from any unexpected failures. Until now, the CN of Ground X has been used to serve the task on behalf of KF.
Due to the renewed relationship among KF, Ground X, and Krust Universe (Klaytn Foundation Unveils New Initiative for Ecosystem Sustainability and Transparency | Medium), KF should run an independent node to perform the responsibilities above properly and in a timely manner.
Against the background, KF proposes the Klaytn Governance Council (GC) to approve KF to run a Core Cell (CC) on Cypress.
- What to propose?
- Approve KF to run a CC to fulfill the responsibility of the network main operator including the task of adding and removing a validator according to the prior agreement of GC.
- Pre-share that the minimum staking amount for KF’s CC, 5 million KLAY, will be included as part of the upcoming Q2 2023 budget proposal.
- What about block reward?
- Since this node will stake 5 million KLAY, KF’s node will receive block proposer reward. This block proposer reward will cover the operation cost of CC, and any remaining balance will be burned. The details of the cost will be shared with the GC and the community.
- What about voting power?
- KF will automatically have 1 voting power when it operates a CC with a minimum staking amount. However, KF will always vote for abstain to maintain the role as a mediator.
- Voting schedule:
- Voting starts at 9:00:00 on 21 April 2023 (KST)
- Voting is closed at 23:59:59 on 28 April 2023 (KST)