Progress Report Oct 25-Nov 1

Key points:

• REI Network X ReadOn Partnership Giveaway
• REI DAO Governance Mechanism Explained

A. Product Development Progress

REI-Network:

- EVM performance optimization @100%

- Node Little Black Room @Testing

REI-DAO:

- Add address label function, add address label warehouse

- Added some community-issued ERC20

- Snapshot vote counting strategy contract adds a voting weight adjustment according to staked voting power

- History module supports Internal Transaction

GXC-Convert:

- Exchanges processed: 738 transactions

- Total: 68,317,011.83641 (91.09% of circulation)

B. Operational Progress

• REI Network X ReadOn Partnership Giveaway has ended. Readon — The First “Read-FI” Program for General Users.Rewards: ReadON WL × 5. The winner list will be announced soon.
• AMA Recap: Opportunities and Challenges of NFT Trading Market. If you missed our AMA with CovasArt, don’t worry! Here is a mini recap of the main discussed topics, more details are below: https://medium.com/gxchain-project/recap-rei-network-ama-with-covasart-87df95f09cd5
• Learn about the participant identity, participation motivation, network security, governance, and development of REI DAO. In this article, the mechanism design of REI Network governance will be explained: https://medium.com/gxchain-project/rei-dao-governance-mechanism-explained-a1781ae04fec
• RootMeta gift for REI Network. To Enter: Follow @The_Rootmeta. Follow @GXChainGlobal. RT + Like + Comment. Tag 3 Friends. Only 10 places, Good Luck!

C. Ecosystem

• On October 30th, the FLY node distributed voting rewards to users who voted for the FLY node and the FLY-POOL node. The distribution amount was 46,500 REI, and the staking dividend ratio was 100%.
• In order to increase the activity of on-chain users and cooperate with the official continuous promotion, the FLY node decided to change the voting rewards dividend ratio to 50% from November 15th. This part of the rewards is recommended for users to collect on the chain by themselves. 50% of the rewards are still airdropped to the corresponding voting addresses. More information will be announced in the FLY node community.

Join the REI Network Community

REI Network is an EVM-compatible public blockchain. As an Ethereum para chain, 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, GXChain 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.

Users can access the REI token on:

Binance | Huobi Global| Upbit | Bithumb | Bittrex

If you are interested in participating in our community and receiving timely updates from the following official channels:

Twitter | Telegram | Medium |Github | Reddit | Website| Discord

REI Network X ReadOn Partnership Giveaway, REI DAO Governance Mechanism Explained was originally published in REI Network Project on Medium, where people are continuing the conversation by highlighting and responding to this story.