Dear community:

REI DAO Proposal #3: “REI Network Foundation-supported Staking for Encouraging Validators” has successfully passed on Aug.15. In total 19M $REI was voted to support the proposal. Thanks for the support from the community. Details: https://snapshot.org/#/rei-network.eth/proposal/0xe4ff24334cbaf919155a848e219085524588c2b5c1814b61eb8416cdbb8112ad.

We will introduce the implementation plan of the REI Network Foundation on how to encourage Super Nodes after proposal #3 was passed in order:

• Aug 15 — Aug 25 (Preparation)

After proposal #3 was passed, with the staking support from REI Network Foundation, the voting from our community and willingness to participate in node elections have been greatly improved. On this basis, the number of Super Nodes and staked votes has increased rapidly. In order to allow more users to be more fully prepared to participate in the node election, the REI Network Foundation has designated the period (Aug 15 — Aug 25) as the “Super Node Preparation Period”, and Snapshots are taken of the votes weights and date weights of Super Nodes in the whole network on Aug 25.

• August 25-August 27 (Brewing)

At the end of the snapshot on Aug 25, REI Network Foundation will conduct a preliminary vote for the top 21 nodes according to the formula

Note: Votes support from foundation = 25 Million*(60%*VotingRate+40%*PeriodRate);

PeriodRate = The number of days after the node was set up/Total days

VotingRate = The number of votes this node has received/the total number of votes in the network

A total of 25 million votes supported by the foundation were only voted for the top 21 super nodes participating in the node election according to participation time. On Aug 17, more than 21 nodes participated in the election, and the 25 million votes of the foundation will be shared among them.

At that time, the gap between the total number of staked votes on REI Network and the 100M staking requirement will be temporarily made up by the REI Network Foundation to realize the security and stability of the REI Network as soon as possible. The distribution of this part of the voting support will be evaluated in multiple dimensions based on “promotion on the REIcosystem, industry popularity and influence, technicality and professionalism”, and will be shared among all nodes in the network, and the voting quota will be adjusted monthly according to the performance of the node in real-time.

List of the top 21 nodes:

REIMOON（0x8CE046d04aA66eB8E97CC3cF6be0cdBf09b2f4A5）

Yeaza Labs（0x42293459c41B53a191530CeAF8Ab3F2f885B6750）

FLY（0xf06313d8B2aCc5C5090dDD9B2F0D7bf66Ea4Fa85）

Definder（0x4E02f5Dd4B2Cd055B31Cb2a62F19b1C57a9C992C）

infstones（0x55deb884775eb98241Fd0B4A6AAf8BF684E0E2f9）

REIfans（0x7B7BB7c41D3Cc9Bb967e4FC1a240292a228B4968）

4EVERLAND（0xAB48bbF24696a0726346433d9a11Ed2a75e7694e）

0x1b44E98BF9b934d43f108A4A17409e07A17aFa61

0x3E276d54908F759Ab4C79cA60283Ec275ae078ca

0xD3636F748530c82a5331a5617E8aAe8D6e8a5dB5

0xDa33d4C661B93591F054786b014548034467dfE3

0x66F6F8F219e84DF774D34414c86658Ce2deE617d

0x6E3A3AB44998cc7F50CF1bcEF888EbAd4dbb37A2

0xefAc7BEF76a3b68aD7A8E69Da7CD48F0003c0e59

0x13102C57CDfd4b58E87a67E7A4cc06CF5fD619AF

0x5aE336c468bbA2684b7C1C70688B17Ae444C5a01

REI Holder（0x85F29f688Df642A569588B1DaF1c10267aE265e2）

0x76A681C20D761a9851E494BC26a7d863316BEe67

0x803035779B32E97A055bf938f58B4dc6d4fE97d4

BigONE（0x82a7cDE29f421aB6fD6557450f0659a24BAc81aF）

Filda（0xB4D9e4c2Bced4821f3bda413FA3fF0955856B0a8）

After the staked amount could ensure network security, that is, it exceeds 100M, the token staked by the foundation will be exited in stages and in an orderly manner. When the network staking amount temporarily dropped below 100M, the Ecosystem Foundation will once again make compensatory supplementary staking to maintain the network’s total voting volume and the running of the FreeStake-module.

• Aug 27-Aug 30 (Validation)

When the total staked amount on the REI Network reaches 100 million and maintains stable operation, the REI Network Foundation will start the mainnet switch, blocking from super nodes, nodes reward distribution, FreeStake, and other modules.

• After Aug 30

After the REI Network mainnet switch, REI network will enter the next step according to the Roadmap. As an important part of maintaining network security and decentralization for REI Network, REI Network Foundation encourages every community member to participate in the node election in the process of network development, and establish and develop their own community through the node election, thus achieving a decentralized, collaborative and open network environment.

About REI Network

REI Network(GXChain2.0) is an EVM-compatible public blockchain. As an Ethereum parachain, it owns the features of lightweight, free and dev-friendly. REI Network is to effectively solve the current high cost and low-efficiency problems of public chains. Therefore, REI Network can achieve free, low-cost development and rapid migration of applications, and can be shared and symbiotic with the EVM ecosystem, also supporting the development of DeFi, GameFi, and NFT.

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The Implementation of REI Network Foundation-supported Staking for Encouraging Validators was originally published in REI Network Project on Medium, where people are continuing the conversation by highlighting and responding to this story.