Klaytn Block Reward Adjustment Governance Proposal Vote Result

TL;DR

GC Proposal Vote Results: PASS

  • 26 of 36 GC members participated
  • All 26 voted “PASS”

The Klaytn team submitted a governance proposal to the Klaytn Governance Council (GC) on October 23rd proposing a reduction in block rewards. The submitted governance proposal recommended decreasing existing block rewards by ⅓ in order to optimize the level of KLAY emission. 26 of 36 GC members participated in the proposal, and all 26 voted unanimously to pass the proposal.

As a result, the proposal has been officially passed and the block rewards adjusted will be reflected on-chain mid November.

As-Is Block Rewards

  • 9.6 KLAY newly minted per block
  • Allocation of newly minted amount: GC — 34% / KGF — 54% / KIR — 12%

To-Be Block Reward (Proposal)

  • 6.4 KLAY newly minted per block
  • Allocation of newly minted amount: GC — 50% / KGF — 40% / KIR — 10

In order to facilitate sustainable growth of Klaytn Ecosystem, Klaytn team will continue to do our best to closely monitor the market and design tokenomics in a way to drive demand for KLAY.


[3Q Klaytn Ecosystem Update]
The 3Q Klaytn ecosystem updates will cover key initiatives the Klaytn team is currently undertaking in our continued efforts to achieve an optimal and sustainable Klaytn ecosystem.

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© Klaytn Foundation 2022. All rights reserved.
© Klaytn Foundation 2022. All rights reserved.