October - January 2023 Budget Proposal - Part Two


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

This proposal will partially use the next Masternode Budget Superblock (BlockStart: 2635200 - BlockEnd: 2764803) 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: MarketBud_10_2022
Amount: 1500000 COLX
Payments Counts: 3

proposal-hash = 151cc23270ef2ef301a4092acb6be7b860e6ca14706dcdf146ac8a268d77de27

How to Vote?
In Wallet Governance
Masternode owners will now be able to cast their votes on COLX proposals with ease by way of the governance portal within the wallet. This will save time and remove the frustration of previous complicated voting mechanisms.

To participate in COLX governance budget proposals by using a new graphical user interface , download our new Update COLX Core v1.2.5 here (if you have not done so already):

Governance UI article/ How to:

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 151cc23270ef2ef301a4092acb6be7b860e6ca14706dcdf146ac8a268d77de27 yes

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

Then go to "mnbudget getinfo MarketBud_10_2022” to check the status

“Name”: “MarketBud_10_2022”,
“URL”: “https://bit.ly/3VMirt5-october-january-budget-two”,
“Hash”: “151cc23270ef2ef301a4092acb6be7b860e6ca14706dcdf146ac8a268d77de27”,
“BlockStart”: 2635200,
“BlockEnd”: 2764803,
“TotalPaymentCount”: 3,
“RemainingPaymentCount”: 3,
“PaymentAddress”: “DCjMEv8rB2iXwM9afekaxXQnm6DWkFBcmJ”,
“Ratio” : 0.00000000,
“Yeas” : 0,
“Nays” : 0,
“Abstains” : 0,
“TotalPayment”: 4500000.00000000,
“MonthlyPayment” : 1500000.00000000,
“IsValid” : true,
“fValid” : true

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