(19/01/23) Relief Fund Support for FTX Holder from Team XPLA. Dear, Pilots. This is Team XPLA.
19 Jan 2023, 10:56
(19/01/23) Relief Fund Support for FTX Holder from Team XPLA
Dear, Pilots. This is Team XPLA.
As a means of protecting holders from the issues associated with FTX, Team XPLA will make a proposal. This Proposal is intended to 'Transfer $XPLA from the XPLA Reserve to the FTX Holder as support finance.' You can find out the specific information below.
[Proposal and Voting]
1. Proposal schedule
- The Proposal will be registered to transfer finance on 24th Jan 2023 at 13:00 (UTC).
- Voting will start immediately after the Proposal is posted and end on 31st Jan at 13:00 (UTC). The Voting result, which takes 7 days (168 hours), will determine whether $XPLA from Reserve will be assigned.
2. Voting Progress
- Voting Participation: Validators may use their votes to express their opinions, and holders may assign their $XPLA to Validators to directly or indirectly participate in the vote.
- Passing requirements: The Validators and Holders decide whether to pass or reject a Proposal. To pass a Proposal, the conditions listed below must be met.
* A minimum of 33.4% of the total amount of stakes needs to participate in the Voting process. At least 50% of participants need to vote Yes. There should not be more than 33.4% of NoWithVeto votes at the end of the Voting process. (Public criteria for XPLA mainnet)
* XPLA Governance is under the rule of the Tendermint-based consensus algorithm. The standard for the vote was established when the mainnet was created, and a detailed algorithm is described in the official docs.
- End of Voting: The results will be determined immediately after the Voting closes. If approved, the amount of support will be sent, and in case of rejection, the Team will review and reflect on the opposing opinions and determine whether the Proposal will be resumed.
3. Specifics of the Proposal
· Purpose of the Proposal: To transfer $XPLA that we found out from the scope investigation (19,600,000 XPLA) from the XPLA Reserve to the FTX Holder as support finance.
· Voting schedule: 24th, Jan 2023 13:00 ~ 31st, Jan 2023 13:00 (UTC)
· Quantity of XPLA: 19,600,000 $XPLA
· Reference: Following the Proposal's approval, the $XPLA assigned from the Reserve will be prepared to be transferred to a different Contract.
If our community comes together, we can take the next step.
Updates will be continuously informed through our official community channel.
Thank you.
* Q&A will be announced before the Voting starts.
* Depending on the situation, we might change or revise the method of provision.
Same news in other sources
120 Jan 2023, 09:35
(01/20/23) Proposal / Voting QnAs on Relief Fund Support
Dear, Pilots. This is Team XPLA.
We will assist you with any questions you may have about the upcoming Proposals and Voting procedures.
1. Where can I cast my vote?
- You can participate in the Voting procedure via the XPLA Vault App/Web Application.
2. How can I check the voting status?
- Through the XPLA Vault and XPLA Explorer.
3. What kind of procedure must I follow to cast my vote?
① You must Stake $XPLA in advance.
- To cast a vote, you must stake your assets on the XPLA Vault during the Voting Period.
- Through Staking, you can Delegate your assets to Validator.
② After Staking, you can participate in Voting on the Governance tab.
- When the Voting is in progress, it will be published on XPLA Vault’s [Voting] tab. If you want to cast a vote, click the Proposal and the Vote button to express your opinion.
4. How can I Delegate my assets?
- Access to [Stake] tab.
- In the [My delegation] section, you can delegate to a Validator you select.
- Submit the Amount of XPLA you would like to delegate and click [Submit].
- After Delegation, you can check the delegated amount of XPLA on the [Stake] tab.
* Caution: The Undelegate process requires a waiting period of 21 days before the action can be taken.
5. How does this process allow me to express my voting rights?
① Your voting rights could be expressed through Validators.
- If you delegate your assets to Validator, your assets contribute to Validator’s Voting Power. Because of this procedure, even though you didn't cast a vote, you will automatically express your voting rights through the Validator's position.
② You can directly cast a vote even though you Delegated it to Validator.
- You can directly cast a vote if your Validator doesn't do so or takes a different stance.
- This case retains the status of delegation, but your shares from the Validator's Voting Power are excluded.
③ Delegating to multiple Validators is available. But if your Validator has a different position from yours, you can also have the option to Redelegate to a Validator that supports the position you are taking.
- You can change delegation to the Validator, who has the same position as you, by Redelegating.
In essence, if you Undelegate, you must wait 21 days before applying; during the Redelegation process, however, there is no waiting period of 21 days.
6. Which procedure is required if the Vote passes?
- The proposed amount of $XPLA will be assigned to and transferred from the Reserve Wallet to a different Contract. Anyone can view the status of the stored $XPLA that was transferred.
7. What procedure is necessary if the Vote is rejected?
- The Team will review and reflect on the opposing opinions and determine whether the Proposal will be resumed.
8. When will support for the actual supply be possible?
- It will be available when the $XPLA is claimable through a legal process with objective proof of ownership. We will provide detailed updates on the progress status through our official community channel.
Thank you.
(01/20/23) Proposal / Voting QnAs on Relief Fund Support. Dear, Pilots. This is Team XPLA.
(01/20/23) Proposal / Voting QnAs on Relief Fund Support
Dear, Pilots. This is Team XPLA.
We will assist you with any questions you may have about the upcoming Proposals and Voting procedures.
1. Where can I cast my vote?
- You can participate in the Voting procedure via the XPLA Vault App/Web Application.
2. How can I check the voting status?
- Through the XPLA Vault and XPLA Explorer.
3. What kind of procedure must I follow to cast my vote?
① You must Stake $XPLA in advance.
- To cast a vote, you must stake your assets on the XPLA Vault during the Voting Period.
- Through Staking, you can Delegate your assets to Validator.
② After Staking, you can participate in Voting on the Governance tab.
- When the Voting is in progress, it will be published on XPLA Vault’s [Voting] tab. If you want to cast a vote, click the Proposal and the Vote button to express your opinion.
4. How can I Delegate my assets?
- Access to [Stake] tab.
- In the [My delegation] section, you can delegate to a Validator you select.
- Submit the Amount of XPLA you would like to delegate and click [Submit].
- After Delegation, you can check the delegated amount of XPLA on the [Stake] tab.
* Caution: The Undelegate process requires a waiting period of 21 days before the action can be taken.
5. How does this process allow me to express my voting rights?
① Your voting rights could be expressed through Validators.
- If you delegate your assets to Validator, your assets contribute to Validator’s Voting Power. Because of this procedure, even though you didn't cast a vote, you will automatically express your voting rights through the Validator's position.
② You can directly cast a vote even though you Delegated it to Validator.
- You can directly cast a vote if your Validator doesn't do so or takes a different stance.
- This case retains the status of delegation, but your shares from the Validator's Voting Power are excluded.
③ Delegating to multiple Validators is available. But if your Validator has a different position from yours, you can also have the option to Redelegate to a Validator that supports the position you are taking.
- You can change delegation to the Validator, who has the same position as you, by Redelegating.
In essence, if you Undelegate, you must wait 21 days before applying; during the Redelegation process, however, there is no waiting period of 21 days.
6. Which procedure is required if the Vote passes?
- The proposed amount of $XPLA will be assigned to and transferred from the Reserve Wallet to a different Contract. Anyone can view the status of the stored $XPLA that was transferred.
7. What procedure is necessary if the Vote is rejected?
- The Team will review and reflect on the opposing opinions and determine whether the Proposal will be resumed.
8. When will support for the actual supply be possible?
- It will be available when the $XPLA is claimable through a legal process with objective proof of ownership. We will provide detailed updates on the progress status through our official community channel.
Thank you.