On Friday, June 11, the snapshot signal for Proposal RC0, was approved by NuCypher stakers and tokenholders.
The proposal received unanimous support on the NuCypher side. It was simultaneously approved on the Keep side, which means the first-ever on-chain network upgrade to combine two decentralized networks will proceed.
An overview of key facts about the proposal can be found below.
The staking contract for KEaNU and the associated adapters to grandfather in existing NU and KEEP stakes are being implemented. Simultaneously, the Keep community is hard at work on TBTC v2 (check out our primer here).
The DAO governance structure for KEaNU and T emissions schedule need to be discussed and finalized by the community. Please comment in the DAO forum or Discord server if you have thoughts on these topics.
Finally, NU emissions will be suspended via an official DAO proposal. Keep an eye out for details on the timing for this soon.
Thanks to all of you who have participated in this process! We're breaking new ground as a community with no roadmap or precedence to guide us and reaching this milestones is incredibly exciting: both communities now have clarity on the path forward.
As KEaNU transitions from concept to implementation, we share a special opportunity to create a powerful platform for threshold cryptography and decentralized bridges between blockchain networks. NuTangClan and Keepers unite!