In a close decision, POA validators voted to hold (freeze) emission funds collected on the POA network since November 17, 2018. The vote was finalized February 25 at 8:00 pm Moscow Standard Time.
This means the current collected emission funds - 1,661,469 POA - will remain securely stored in the EmissionFunds smart contract . They will be added to the emissions available for distribution during the next EmissionFunds distribution vote, scheduled for May 2019.
Since November 2018, every validated block has produced 2 POA coins. One coin is issued to the validator as a block reward, and the other is issued to the EmissionFunds smart contract. As outlined in the POA Whitepaper the additional 2.5% supply is generated to support network sustainability. Every 3 months, validators vote on an on-chain ballot to determine how these additional emission funds are spent.
This was the first ballot regarding emission fund spending, and the validators discussed many options and varying opinions on the POA forum prior to voting. At least 11 validators were required to vote on this measure, and 17 validators submitted a vote.
The results and votes are outlined below:
Emission Ballots Stats Votes
|Send||John D. Storey|
Thanks to Roman Storm for providing the above data.
Not all validators took part in the ballot however, and below you can see the list of the validators who abstained from voting are:
- John H. LeGassic
- Lillian Chan
- Artiom Curencov
The frozen emission funds can be seen stored in this address. This was an excellent example of on-chain governance at work. Discussions will continue to unfold as the next emission release threshold approaches in 3 months.