Hello Everyone,
Sharing here the plan so everyone is prepared. The snapshot vote will be created on the 2 6 Jan 2023 during the Asian day time and will last for one two weeks. A snapshot for the total delegation per validator will then be taken around that time. Delegators who doesn’t agree with the validator expected vote will have to redelegate before the 6 Jan 2023.
We are going to use HIP-4 for the vote which would need to satisfy two conditions :
- more than 51% stake on the network (ie on 20 Dec 5,89b * 0.51 = 3b ONE stake) is used
- more than 66.66% (ie > 2/3) majority vote from all voters (ie 3b * 0.67 = 2b ONE)
On the 1620 January 2023, there should be a new release available on github. It will contain at least one feature (chainid fix that doesn’t requires a vote) and the fee collection feature if the implementation of the fee collection feature is approved.
Let me know if you have any questions
edit: 21 Dec 2022, update snapshot duration from 1 week to two weeks as per Harmony governance rule defined here Network Governance - Harmony
edit: 28 Dec 2022, update snapshot start date and expected release as we plan to publish the FAQ after new year holiday.