Hello, this is the ICON Team.
The ICON Foundation will submit a Network Proposal (Revision Proposal) to activate the Revision 7 feature in the next Representative Term. This Revision 7 is already included in ICON Service 1.5.18 but is not yet activated. The purpose of the proposal is to fix the IISS logic’s bug and stabilize the network. Below are the details of the update.
Fixing the Representative Rewards
Beta 2 x (delegated amount from ICONist / total number of ICX delegated to the top 100 representatives at the start of the Representative Term). If some P-Rep get validation penalty, its beta 2 rewards go to the public treasury.
Beta 2 x (delegated amount from ICONist / total number of ICX delegated to the top 100 representatives who have not received validation penalty). If some P-Rep get validation penalty, its beta2 rewards share by other P-Reps.
- The representatives who have validation penalties are excluded from the denominator.
There are somethings needed to discuss in our side so that we are going to submit the proposal for a term starting with block height 11,569,443