ICON Developer Portal

ICON Developer Portal

ICON Network is a decentralized smart contract protocol based on ‘loopchain’, a high-performance blockchain engine. The ICON Network aims to remove barriers among different blockchains and allow them to exchange values without intermediaries. By realizing this goal, ICON will realize the mass adoption of blockchain technology and Hyperconnect the World.

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Governance - Public Representative (P-Rep)

What is a Public Representative?

  • A Public Representative (P-Rep) is a full node on the ICON Network that participates in consensus and governance.
  • P-Reps consist of the top 22 Main P-Reps and 78 Sub P-Reps, and are elected by ICONists.

Reward for Representative

Representatives can receive compensation through IISS. See IISS for more information.

On-chain Governance System

  • Representatives can submit governance variables, network proposals through an on-chain governance system. All ICONists can delegate their ICX to the representatives to participate in decision making. It is important to delegate the ICX to reflect each ICONists’ intention.
  • Governance Variable submitted by P-Rep

Governance Variables submitted by P-Rep

VariablesNameExplanation
i_repExpected Monthly Reward per RepresentativeExpected reward amount for representative is determined by weighted average of each representative suggestion. Each P-Reps (22 Main P-Reps and 79 Sub P-Reps) suggest this amount based on their expenditure and profit. i_rep must be equal to or greater than 10,000, and the suggested value should not increase or decrease more than 20% from the previous submission. i_rep can be updated daily.
sStepMinimum transaction fee in the ICON network which is determined by weighted average of each representative suggestion. When updating the Step, the suggested value change should not exceed more than 5% from the previous value.

Network Proposal

  • Text Proposal
    • Text Proposal is an on-chain proposal to align each P-Rep’s opinions about governance.
    • P-Rep can propose a Text Proposal on the ICON Network and they can vote Yes/No on on-chain.
    • The scope of the proposal is very comprehensive; for example, the issue of off-chain governance can be discussed, such as hard forks, economic policies, and new functions.
  • Malicious SCORE Proposal (Temporarily)
    • Malicious SCORE Proposal is an on-chain proposal to freeze the operation of a SCORE on the ICON Network.
    • P-Rep can propose a Malicious SCORE Proposal on the ICON Network and they can vote Yes/No on on-chain.
    • SCORE can be frozen for up to 3 days.
  • P-Rep Disqualification Proposal
    • P-Rep Disqualification Proposal is an on-chain proposal to disqualify the P-Rep on the ICON Network.
    • P-Rep can propose a P-Rep Disqualification Proposal on the ICON Network and they can vote Yes/No on on-chain.
    • This proposal prevents P-Rep who makes a problem that is difficult to identify on on-chain.

Updated 10 months ago

Governance - Public Representative (P-Rep)


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