and investing. IQ cash splits its block reward
57% to Masternodes, 43% to Miners
and 6% is reserved for Best Traders project (DAO)
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, 1.5*16616=24924 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 IQCASH 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, IQCASH network creates a superblock with requested funding, which is being assigned to a payee address mentioned on the 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.
Proposals are being sent into the network through a special command.
To generate it, visit https://proposal.iq.cash/
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.
gobject prepare 0 1 1513544463 5b5b2270726f706f73616c222c7b22656e645f65706f6368223a313531373536323433342c22 6e616d65223a224372656174652d50726f706f73616c2d47656e65726174696f6e2d546f6f6c 222c227061796d656e745f61646472657373223a224372656174652d50726f706f73616c2d4 7656e65726174696f6e2d546f6f6c222c227061796d656e745f616d6f756e74223a31302c227 3746172745f65706f6368223a313531323537373633342c2274797065223a312c2275726c22 3a2268747470733a2f2f70726f706f73616c2e6b7a636173682e6b7a2f227d5d5d
gobject submit 0 1 1513544463 5b5b2270726f706f73616c222c7b22656e645f65706f6368223a313531373536323433342c22 6e616d65223a224372656174652d50726f706f73616c2d47656e65726174696f6e2d546f6f6c 222c227061796d656e745f61646472657373223a224372656174652d50726f706f73616c2d4 7656e65726174696f6e2d546f6f6c222c227061796d656e745f616d6f756e74223a31302c227 3746172745f65706f6368223a313531323537373633342c2274797065223a312c2275726c22 3a2268747470733a2f2f70726f706f73616c2e6b7a636173682e6b7a2f227d5d5d 1e9240eda5e325f2871f448970972e3658cf725c18bf23b139411e37a76c651a
Copy your result.
Return to Debug consoleand send this command. By this, you'll send your proposal into the IQCASH 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)
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.