October Budget Proposal - Part Two


#1

Proposal: Partially use next Superblock (1,500,000 COLX) for marketing activities

This proposal will partially use the next Masternode Budget Superblock (BlockStart: 561600 - BlockEnd: 604801) for Marketing related actions.

1,500,000 COLX from 10% to proposals for all phases will go into the Marketing Budget if you vote YES

You will need at least 1 running Masternode to Vote for this proposal.

Proposal Name: MarketingBudget1
Amount: 1500000 COLX
Payments Counts: 1

proposal-hash = 86ca4c28292a11e890457d8a78cb060722e035a8da4ccd8fdc8f74d8d0de0533

How to Vote?
Go to Tools > Debug Console > then you vote:
Correct usage is " mnbudget vote proposal-hash yes | no "

" mnbudget vote-many proposal-hash yes " to vote in favor:

mnbudget vote-many 86ca4c28292a11e890457d8a78cb060722e035a8da4ccd8fdc8f74d8d0de0533 yes

“mnbudget vote-many proposal-hash no” to vote against

Then go to "mnbudget getinfo MarketingBudget1” to check the status

“Name”: “MarketingBudget1”,
“URL”: “https://goo.gl/j6ei82”,
“Hash”: “86ca4c28292a11e890457d8a78cb060722e035a8da4ccd8fdc8f74d8d0de0533”,
“FeeHash”: “676643a821df807925b1ddf76cfec4103de7af2d84711b7ea8ccc21e436c595f”,
“BlockStart”: 561600,
“BlockEnd”: 604801,
“TotalPaymentCount”: 1,
“RemainingPaymentCount”: 1,
“PaymentAddress”: “DF9ozSCCyqg6bdmy5SyVgr2WV4ctLriDTh”,
“TotalPayment”: 1500000.00000000,
“MonthlyPayment”: 1500000.00000000

What are these funds being used for?

The limited amount shared for Marketing is used for utilizing B2B partnership opportunities, branding and creating new content/design for existing & upcoming ColossusXT technologies, contests/airdrops/giveaways when relevant to increase reach in social mediums, advertising in 3rd party websites or in other mediums.

What is a superblock and how does it work with the budget system?

The budget system has many stages, first, a proposal is prepared and submitted to the network. It requires at least 10% of the network to vote yes to make it into what we call the “budget projection”. The budget projection is simply all of the proposals that qualify to get paid.

Later on, the network will take the budget projection and finalize it. This is the stage where the rest of the masternode network will compare their projection to the finalized budget and if they match they will vote “Yes”. If more than 10% of the network votes yes on the finalized budget, then when the next superblock is reached, the network will create these blocks. Superblocks simply pay one proposal per block until the budget per month is paid.

We encourage all Masternode owners to join the Official Discord community.
Discord: https://discord.colossusxt.io

Thank you for voting!
Colx team


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