Spartan Node Team Meeting Report and Snapshot Updates
What a first week!
Yo Spartan Node community, it’s been a busy week, but we’re just getting started. That’s right, only a week since Spartan Node first launched. All Spartan Node members have been super busy with everything that comes with building a movement. We’ve even upgraded our server to a more beasty validation machine in under 2.5 hours in order to make sure all Spartans don’t miss out on their sweet ICX rewards.
We’ve gone from the bottom of the charts to the top 22 in record time, thanks 100% to the ICX community and all Spartan Node team members all around the world. Shout out to all the Spartan Node members out there, we love yall.
But we’re not going to rest. This last week has inspired ALL team members to work even harder to pursue the vision of Spartan Node. We want to give out MORE to ALL Spartan Node members. And we will. We want to build even wilder and cooler projects on ICX. And we will. We want the Spartan Node lifestyle to spread to the entire ICX community. And it will!
Spartan Node official meeting minutes
Spartan Node held a special team meeting on January 30th. And many subjects were brought up, decided and voted upon by YOU, the Spartan Node community. Everyone that was involved contributed greatly to the ongoing success of Spartan Node. We all kings baby.
All future meetings will be announced in advance, or if a surprise vote comes up, voting will be left open for a period of time to accommodate Spartan Node members from all over the globe.
- Increase blockchain snapshots to 8 per month — 4 Announced, 4 Unannounced
- Putting a 100% of staked ICX profit cap on the Community Rewards Program
- Approving the Spartan Node budget
8 snapshots per month — 4 announced, 4 unannounced
The Spartan Node community felt that 8 snapshots a month are better than 4, and we put it to a vote. This would better help average out the true monthly stake of all Spartan Node members, so we put it to a vote. And it passed with a 95% approval from Spartan Node members. Moving forward Spartan Node will take our official blockchain snapshot every Monday around 2PM GMT, and a second random snapshot at any time during the week. The first Official snapshot is February 1st at 2PM GMT.
Spartan Node budget
We all see some people making thousands of dollars a month and wonder, where does the money go? Because we are a 100% community run node we want everything to be crystal clear. Our current monthly node budget will be allocated accordingly:
Community Rewards Program— 45%
Blockchain Development, Building, Server Management, Projects Management — 10%
Accounting and Community Rewards Program oversight, Back-end development, Projects Planning and Creation, Social Media Outreach — 10%
Community Management, Community Organization, Initiative Management and Planning— 10%
Server Costs and Maintenance — 25%
The Spartan Node budget passed with an 89% approval rating from Spartan Node members. We voted, you spoke. Ah, the beauty of a 100% community run node in action. We up in here making moves.
Community Rewards Program 100% profit cap
Some members of the community brought up the fact that some smaller stakers would be making over 100% on staked ICX profit per month for being Spartan Node members. While we want everyone's voice to be equal at Spartan Node, 1 voice, 1 vote, some in the community felt that this large profit was unfair and that rewards should be distributed partially based on the amount you have staked. So we voted to institute a 100% of staked ICX cap on profits per month. This means that if you stake 1 ICX, your maximum monthly payout would be 1 ICX… If you stake 10 ICX, your maximum payout would be 10 ICX. Any extra ICX from stakers with 100% monthly profit will be redistributed equally among all Spartan Node members.
After checking the test snapshots, this will affect less than 4% of Spartan Node stakers. So don’t worry yall, we going to deliver that bread.
The Community Rewards Program 100% profit cap passed with 91% of Spartan Node members in agreement.
Let’s get it
Remember… Again, the first Spartan Node reward snapshot will take place February 1, 2021 at 8 AM Cali time, 14:00 GMT (2 P.M. GMT). So, make sure to get those votes in before then.
Spartan Node don’t stop… Can’t stop… Won’t stop.