19301 IQ - is a monthly Budget for Traders projects Related with the IQ Ecosystem!
Masternode owners are Traders Communities who vote and choose the best of your proposals.
IQCASH network supports decentralized governance and budget system: funding community initiatives straight from blockchain itself using
"superblocks" mechanism, which are created on each 16616 block.
Monthly limit for initiatives financing is determined as the actual DAO reward for 1 block multiplied to the superblock cycle length (16616 blocks).
For example, 1.16*16616=19301 IQ. I.e. the DAO amount is not cumulative for the whole period, it is limited to the superblock cycle (16616 blocks) and can
be used only in its period. Unspent DAO funds cannot be transferred to the next period.
● Anyone coming up with some proposal of how he can make IQ better, leaving description available as a public URL.
● This user sends this proposal into IQ.CASH network through proposal protocol.
● Shareholders (owners of network masternodes) cast votes for or against this
● Approved proposals awaits it's funding.
● Once in a month, IQ.CASH network creates a superblock with requested funding, which is being assigned to a payee address mentioned on the proposal.
Preparations Before Creating Proposal
Describe your proposal as text:
● Tell about your project.
● Introduce yourself. Include your qualifications, experience and contact information for questions.
● Estimate and outline the project requirements, progress milestones, and deliverables. The more detail the better.
This page is your marketing and sales pitch.
● Justify your funding request by explaining on how the funds will be used.
● Prepare some web-document (PDF, html or something else) which would be available by a public URL. It's a good practice to use URL shortener like https://goo.gl/or https://tinyurl.com/,to make URL much more compact before
adding it into proposal.
● Come up with some name for your proposal. You can separate words with "-" symbol. Example: My-First-Initiative. It must be clear and unique to prevent voter confusion.
● Prepare your IQ address for receiving funding. It would be a good idea to backup
the wallet with receiving address to avoid it's loss.
Create and Send Proposal
Proposals are being sent into the network through a special command.
To generate it, visit https://iqcentral.org/ Fill requested fields, including required amount of IQ, payment's time range and payee IQ address.
Then press Generate.
You would get a command. Save it. We'll use it on next two stages.
Open your wallet, from where you'll send your proposal into the network. It must contain a bit more than 5 IQ.
If your wallet is encrypted with a password, open Settings -> Unlock wallet to make it possible to send transactions from it. Then, open Tools -> Debug Console.
Paste previously copied command here and send it. It would burn 5 IQ as a proof of proposal creation. It would reply with a transaction ID. Save it somewhere.
Wait until your transaction would get at least 6 confirmations.It could take around 15 min. Then, copy previously generated command into a fresh notepad.
Replace a word "prepare"with "submit". At the end of this whole string, add whitespace and paste transaction ID which we copied earlier.
Copy your result.
Return to Debug console and send this command. By this, you'll send your proposal into the IQ.CASH network.
In return, you'll get the ID of your proposal. Save it. Use this ID to check your proposal status. Done!
Now you can spread some word about your proposal to other users. Masternode owners can now vote for your proposal.
Those commands must be used on Tools -> Debug Console, or through iqcash-cliif you're running a console version of IQCASH.
Check proposal status: gobject get proposal_id_goes_here
Vote YES to a proposal:
gobject vote-many proposal_id_goes_here funding yes
Vote NO to a proposal:
gobject vote-many proposal_id_goes_here funding no
Check next superblock height:
Check amount of proposals:
List all proposals:
Check treasury size available to be spent on proposals:
(it must be a multiple of 16616, e.g.: 33232)
Checklist for Proposal Sending
To minimize risks of overpaying or your proposal being ignored by others, check yourself with some next recommendations:
● You must vote at least three days before the superblock is created or else your vote won't count. The exact deadline is 1662 blocks before the superblock.
● Make sure your proposal start block is far enough in the future to allow for discussion and to gather voting support.
● Proposal name must not exceed 40 characters length.
● Make sure your proposal name does not match any currently active proposal names.
● Use URL shorteners before including your URL into proposal.
● Make sure your proposal description contains enough information for voters to decide their vote.
● Make sure requested payment amount and period is a reasonable compensation for project scope and duration.
● Make sure that you've backed up wallet with payee address where you'll receive upcoming funding.