The Second Implementation of the Community-centric Delegation Campaign & the Second One-year Token Burn Plan!

The Second Implementation of the Community-centric Delegation Campaign & the Second One-year Token Burn Plan!

In April 2020, the IRIS Foundation Rolled Out a Community-Centric Delegation Campaign & the Second One-Year Token Burn Plan started on April 1st, 2020.

Both plans involve the expansion and optimization of the utilization of Eco-development funds. The token burn and rewards release have been completed by the IRIS Foundation at the beginning of June 2020: All delegators received IRIS tokens as direct deposits in an amount equal to their delegation reward earnings in May; the application form of validators rewards continues to be available; the token burn in May was completed to maintain a zero percent inflation rate monthly.

The distribution of delegator rewards for May

At the beginning of June, according to community delegations from last month, the IRIS Foundation made a distribution to delegation addresses of delegators with an amount equal to their delegation reward earning in May. The delegator received a double reward based on their reward earnings from last month.

810,352.3735 IRIS have been distributed to delegators. More details can be found in IRISplorer.

More details:

https://www.irisplorer.io/#/address/iaa1lec8q7sz74u8d6ey27ltmhk8ptj88efeht30ua

Thanks to the community members who actively delegate in IRIS Hub to promote the sustainable development of the IRISnet ecosystem together!

The application form of validators rewards

To help the validator community to grow more decentralized, the IRIS Foundation schedules to reward eligible validators who continuously operate for a long time yet still rank relatively low in terms of the voting power to expand their voluntary delegations from the community and also maintain the security of the network.

The IRIS Foundation will evaluate based on their past operating data, and the willingness of future contributions to the IRISnet ecosystem to choose the validators to reward. If you are interested in being rewarded, please fill in the following form and show us reasons why you should get the rewards!

Feel free to fill in the application form:

https://forms.gle/tRDcYeFue7rdeRWy7

The summary of IRIS token burn

The IRIS Foundation has burned 72,283,581 IRIS in total until now. The current total supply is 2 billion IRIS to maintain the actual inflation rate as 0.

The following are the details of the 2nd IRIS token burn under the second one-year token burning plan with 4,534,943 IRIS burned.

This burning involved two addresses, namely:

1.The main address of eco-development funds:

iaa14tynuu49qx85re9kjfcx0uukdazk8jedlmeqt0

2,176,688 IRIS have been burned.

Read more in IRISplorer (irisplorer.io):

https://www.irisplorer.io/#/tx?txHash=0CA475411C319B9C887D2C9E4BDE9E992D57AC054A1F2243D438E77AB591C58F

2.The address of delegated rewards of eco-development funds：

iaa1yfqfqspjktk7gvyf3paqys88edy8m9vwptm9lk

2,358,255 IRIS have been burned.

Read more in IRISplorer (irisplorer.io):

https://www.irisplorer.io/#/tx?txHash=C36C6B49F7D152A83D64DACCAD8FF17825532505EB32D740960BED08D3883ADF

The implementation of the second one-year token burning plan has been changed from quarterly to monthly. Continuing the goal of sustaining a zero percent actual inflation rate as the last One-year token burning plan, this follow-up burning plan will further remove IRIS tokens from circulation by 1) burning all delegation rewards the eco-development funds has received each month.2) burning part of the IRIS held by the eco-development funds’s main address. Thus, validators and delegators can receive rewards earning with zero inflation rate to facilitate sustainable economic growth within IRISnet.

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