In a previous post, we discussed ICON’s staking reward model on a general level. While that post touched on the “un-staking period” concept, I’ve seen a lot of confusion regarding the un-staking period over the past few weeks. In this post, we’ll take an in-depth look at ICON’s un-staking period to understand what it is, and why it’s needed to maintain a secure and stable network.
If you’re interested in learning more about ICX staking and rewards, be sure to check out the latest episode of RHIZOME Offline.
In ICON’s initial network design, public representatives (P-Reps) had the power to influence ICX reward rates. Recently, ICON Foundation decided to change the reward model to reduce the power of P-Reps. In the network’s current state, the ICX reward rate is a function of the percentage of network staked, and there are no other contributing factors. In this post, we’ll discuss how the ICX reward rate is calculated, along with the economic implications of a lowly staked network versus a highly staked one.
Last week, ICON announced a major change to IISS (ICON Incentive Scoring System), and provided details about the upcoming P-Rep pre-voting period. In this post, we’ll discuss the changes to IISS, as well as what kind of ICX rewards ICONists can expect to see during the pre-voting period in August.
ICONLOOP has appointed James Kim, the Chairman and CEO of AMCHAM Korea (The American Chamber of Commerce in Korea), as its first company advisor. ICONLOOP has found many ways of incorporating its technology into various industries in Korea and has grown rapidly to encompass approximately 160 employees within three years since its establishment in May 2016. ICONLOOP is making an all-out effort to become a more mature IT company this year as it marks the start of the blockchain’s full-fledged market entry.
Historically, ICONLOOP and ICON have maintained a conservative strategy when it comes to onboarding advisors. When advisory appointments do happen, it’s always significant in nature, and this case is no exception.