Idena Chronicles #0086 - Quadratic staking in action, UI updates and more...

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Idena Chronicles

Epoch #0086

Read Idena Chronicles (Russian edition by @IDENA World)

Network metrics

Active miners — total number of actively mining identities running their own mining nodes or delegated into mining pools.

Mining nodes — total number of full mining nodes run by individual identities or pool owners who activated online status.

Newcomers — number of addresses that validated for the first time

Success ratio — share of users attended the validation and successfully validated

Active wallets — unique wallets that made transactions during the last epoch

Competitors Network stats Markets Node type stats for the last validation

Nodes on VPS — users running their nodes on VPS

Built-in nodes — users of the Idena Desktop App with build-in node

Shared nodes (web) — Web App users renting shared nodes via marketplace

N/A — users running outdated versions of nodes (VPS/built-in nodes)

Unknown shared nodes (web ) — Web App users who connect to shared nodes that are not listed in the Idena shared nodes marketplace

The data is given for the latest validation.

To have a smooth and reliable validation ceremony experience, we recommend using VPS or built-in nodes if you have fast Internet connection and good router, or the nodes listed in the node marketplace in the official Idena Web App in other cases.

Reporting performance Idena Core Team Development Summary: The hard fork activation My Idena page update Quadratic staking in action Changes in delegation/undelegation Reporting improvements Telegram bot update Update on the Ads development The hard fork activation

The hard fork update has been successfully activated at the block number 4421489. It was supported by a super majority of Idena validators. It is always a pleasure to see true democracy in action!

Read more about the hard fork changes here.

My Idena page update

My Idena page has been updated on the Web app, both in the desktop and mobile layouts.

The identity-related information is shown in the upper part of the page. Your wallet and stake are now shown in separate sections.

In the Stake section you can see your stake balance and the APY according to your current share in the total staked coins. You can estimate your possible staking rewards using the Staking calculator. To replenish your stake click Add stake.

There is a warning message of losing your stake for all identities except identities with 100% stake protection (Human status or Suspended with age 10+).

Read more about stake protection depending on your identity status.

Quadratic staking in action

Since the hard fork update, the validated identities have added over 400K iDNA to their stakes. The total amount of staked coins has increased by 18%. Quadratic staking provides a fair rewards distribution giving higher APY for identities with small and medium stakes. It is aimed to reduce the inflation and the pressure on iDNA price by encouraging the wide range of Idena validators to lock their coins and keep their identities validated across many epochs.

Stake your coins to compete for a larger share of the Staking fund.

The increase in Total staked coins after introducing Quadratic staking Changes in delegation/undelegation

After undelegation identities have “discriminated” status for 3 epochs. While these identities can vote in the Idena app, their votes are not counted. This applies to the Oracle votings, the protocol consensus and the future hard fork update votings.

The discriminated identity cannot be delegated to any pool other than the pool to which it was previously delegated.

Discrimination of undelegated identities is designed to ensure the security of the governance.

Now we are ready for the governance challenges. We hope to see more experiments with coins locked by Oracle votes. For example, OracleLock smart contract allows coins to be unlocked in favor of one or the other winner’s address depending on the Oracle vote outcome. As a possible use case it can be a competition judged by Oracles, dispute resolution, betting, insurance, cross-chain swaps or even more complex use cases.

Reporting improvements

In the new version of the Idena app, the absence of a report and a flip approval will be considered that the identity abstained on the flip. This identity will be excluded from the qualification committee for this flip.

Before submitting the answers to the qualification session you will see the number of abstained flips or the number of unused reports (if any left).

We recommend you to refrain from approving those flips that you would likely report if there are enough reports. At the same time, please actively approve really good and unique flips in order to avoid accidental reports of their authors.

If you accidentally approved or reported a flip, then by pressing the approve/report button again you can withdraw your vote for/against this flip.

Idena Telegram bot update

Now the Idena Telegram bot will notify you about new Oracle votings if you are chosen in the Oracle committee.

To remind you to disclose your secret vote there will also be a notification when the counting period of the Oracle starts.

Please subscribe to @MyIdena bot to get personalized notifications.

Update on Ads development progress

The decentralized ad network is almost ready to be released in the next few weeks.

Stay tuned!

Community Global community channels Top active users

Community Discord leaderboard:

Telegram — Global community leaderboard:

Telegram — Idena Balkan leaderboard:

Telegram — Idena Italia leaderboard:

Telegram — Idena France leaderboard:

If you want to feature your telegram community leaderboard in the Idena Chronicles, please add ComBot to your telegram group and add @AndrewIdena to the list of group admins to give the Idena core team access to your group stats.

Idena website translations Idena website translations Idena website translations by languages Idena Web App translations Idena Web App translations by languages

We invite you to join the idena translation community and contribute to the translation of the Idena website to your language!

If you want to take part in translation verification and funding, please contact Syd or Rioda to join the translation management workgroup.

Idena Affiliate Program

The rewards for the Idena Affiliate Program have been paid to all referrers who have validated candidates for the last validation and who did not delegate their mining status:

Everyone can apply to become an affiliate. Get your referral link, invite people to Idena and earn for each validated identity you brought! Find how to start on the Affiliate Program page.

Community updates

Edited by Syd

IDENA COMMUNITY — EPOCH 86

Hello Idenians and congratulations to everyone for voting on the hard fork update! The HF will be another major step with the introduction of quadratic staking and, to that regard, you all participated in writing crypto history.

Idena Community supports the hard fork and write history once again

Indeed, beyond the content of the hard fork itself, the seamless update was enabled and made possible with your participation and support. Idena is here again writing history, allowing on-chain democratic governance as every validated participant were empowered to decide if they support or not the HF.

The support of Baffler through an Idena Oracle vote

Another governance success this Epoch was represented by the support of the Baffler Project. This support was activated through an Idena Oracle which enables fair voting and equal rights within Idena participants. The vote allowed the unlocking of 5000 iDNA coming from the Foundation wallet in the wallet of McDuck (@artvist). You can check out the result of the vote in the explorer:

https://scan.idena.io/contract/0x9c380e8c30dc19de008d4efc09b7463803414639

As a reminder, Baffler is a social network project started by community member McDuck (@artvist) and is ‘designed to concentrate the forces of the active part of the Idena network community in one place’. The project is still in its infancy, but you are welcome to show your support by trying it, publishing and eventually reporting your feedback in https://t.me/bafflerproject.

Check the project out: https://baffler.org/

Notable Tweets

· Idena, the simplest cryptonomics

· And the first Proof-of-person blockchain built on IPFS

Community Wallet

Address: 0x943832AfD0C54136eeb4bBdA2cfb8579F86F63Cc

Amount (18th May 2022): 28 798,991 iDNA

1) Last Epoch, 750 iDNA has been sent to @Ltraveler/Fireshift for his Russian translations of the Chronicles and the hard fork blogpost.

You can find the tx in the explorer: https://scan.idena.io/transaction/0xa53069514f240f8f77b4b0b1647f1df99bf2e6833d1242dde60702efefc2497f

2) Regarding the governance project, it is still an ongoing work (ICYMI, Ubiubi proposal: https://ubiubi2018.medium.com/proposal-for-governance-mechanism-for-idena-community-wallet-1d3f42819a50).

The community has been very positive and involved in helping Rioda, in order to enable multisig and Ubiubi2018 proposal.

The project from Rioda has indeed been open-sourced. You can check it out here: https://github.com/rioda-org/idena-community#readme

Thereafter, Community Member SimonSaysHello#9406 made significant new developments on his repository that you can check: https://github.com/simontakouridis/idena-community-wallet-api.

Many thanks to Simon for his dedication.

Thus, a lot of progress has been done and you can start to look into it on Discord (#community-wallet-governance): https://discord.com/channels/634481767352369162/888456835022086204/975271668102623233

If you are interested in working and/or discussing on this topic, please come in Idena Discord and join the dedicated channel (#community-wallet-governance).

Join the Idena community: