🚀 Vega Community Votes to Shut Down Vega Chain
#VegaCommunity #VegaChain #Shutdown #CoreProtocol #MarketTrading #GovernanceVote #WithdrawFunds #Validators #CryptoNews #Blockchain
According to Odaily, the Vega community has overwhelmingly voted to shut down the Vega chain. This decision will redirect the project's remaining resources towards maintaining and developing the core protocol software, while ceasing community support for the Vega chain and VEGA tokens. Currently, all market trading functions on the Vega chain have been halted, and the chain is expected to fully cease operations after a 'slowdown period.' During this period, validators will be incentivized to keep nodes running to allow users to withdraw funds. A final governance vote is underway to confirm the final settlement prices of the suspended markets and to allocate approximately $28,000 of unused insurance pool funds to validators. The Vega chain is expected to remain operational until at least October 27, providing users ample time to withdraw their assets. Users can connect their Vega and Ethereum/Arbitrum wallets through the official page for asset withdrawals. It is important to note that USDT withdrawals require a 24-hour delay period.#VegaCommunity #VegaChain #Shutdown #CoreProtocol #MarketTrading #GovernanceVote #WithdrawFunds #Validators #CryptoNews #Blockchain
🚀 Ethereum Foundation Proposes Validator Revenue Redistribution Plan
#Ethereum #ValidatorRevenueRedistribution #VRR #EthCC #stakingrewards #smartcontracts #publicgoods #Gitcoin #Octant #securityaudit #coreprotocol #EthereumFoundation #decentralization #ecosystemgovernance #blockchain #ETH
Ethereum Foundation researcher Devansh Mehta introduced a Validator Revenue Redistribution (VRR) plan at the EthCC[9] conference. According to Foresight News, this proposal allows validators to signal at the consensus layer to autonomously redirect a portion of their staking rewards to designated smart contracts instead of withdrawing all to personal wallets. The recipients could include public goods funding platforms like Gitcoin and Octant, security audit organizations, or core protocol research teams.
The plan involves two changes at the execution layer: signaling the validator's redirection percentage and implementing the logic for fund allocation to specified contracts. Devansh emphasized that VRR is not mandatory but serves as a tool empowering validators to convert part of their earnings into a funding source for Ethereum's evolution. This approach aims to reduce reliance on centralized donations while enabling validators to directly participate in ecosystem governance and security development.#Ethereum #ValidatorRevenueRedistribution #VRR #EthCC #stakingrewards #smartcontracts #publicgoods #Gitcoin #Octant #securityaudit #coreprotocol #EthereumFoundation #decentralization #ecosystemgovernance #blockchain #ETH