- 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.
Representatives can receive compensation through IISS. See IISS for more information.
- 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
|i_rep||Expected Monthly Reward per Representative||Expected 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.|
|s||Step||Minimum 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.|
- 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 about a year ago