Proton Blockchain | A New Era of Development & Opportunity
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On February 7th, 2022, a proposal was submitted to the Proton blockchain’s block producers by Marshall Hayner, CEO of Metallicus. The proposal aimed to bring Proton Blockchain to new heights, reaching its true untapped potential, by offering specific grants to different parties within the Proton ecosystem. The grant would support block producers, developers, the community, marketing, and the core developer, Metallicus.
The proposal was shared with the community, who rallied to support it, and was then added as a multi-sig on the chain. For the proposal to pass, it needed a minimum of 15 out of 21 block producers to vote in favor of it (71% majority). After considering concerns raised by some block producers and community members, a second proposal with a reduced grant was introduced.
The community rallied behind their preferred proposal, and at 10:09 AM EST, proposal one was approved. This approval opens up limitless opportunities for Proton, and Metallicus remains committed to continuing to make Proton the greatest layer one blockchain in the industry.
With the passing of the proposal, 14 billion non circulating tokens will be added to the Proton Blockchain ecosystem, resulting in the total non circulating supply of 28 billion, while circulating supply remaining at 14 billion until distribution of the tokens as follows:
Block Producers: 500 million XPR (to be put into circulation within 3 years)
The Community: 2 billion XPR (to be put into circulation within 3 years)
Marketing: 1.5 billion XPR (to be put into circulation within 3 years)
Core Developer (Metallicus): 10 billion XPR (to be put into circulation within 3 years)
To give you an overview of the grants and their specifics, we have broken them down below;
Block Producers — 500M XPR
To ensure the security and stability of the Proton network, it is necessary to provide support to Block Producers (BPs) who face financial difficulties. To address this, a one-time grant of 500m XPR has been approved for BPs, managed by a Consortium multisig and granted based on DAO-approved proposals. The grant funds will help cover the costs of maintaining and securing the network.
The Community — 2B XPR
To support the Proton community and attract talent, grants have been approved for notable developers building on the Proton blockchain. The grant, totaling 2B XPR, will provide resources for contract deployment and increase the developers’ stake in the project. The grant funds will be managed by a Consortium multisig (committeewps) and granted based on DAO-approved proposals, with the grant size based on the notability of the development project.
Marketing — 1.5B XPR
To drive Proton’s adoption and presence, grants have been approved for individuals, marketing firms, and agencies with experience in media, print, television, digital advertising, and radio. The grant, totaling 1.5B XPR, will be managed by a Consortium multisig (committeewps) and granted based on DAO-approved proposals, with the grant size based on the notability of the marketing project. By empowering the community to drive adoption, Proton recognizes the power and potential within its community.
Core Developer — 10B XPR
To maintain and innovate the Proton blockchain, a grant of 10B XPR has been approved for the core developer, Metallicus, for the next three years for the proposed Proton roadmap. The funds will be held in @xprtreasury and will be available for Metallicus to use at its discretion.
Proton Blockchain War Chest
The Proton community has approved the creation of an autonomous, decentralized “Proton War Chest” (PWC) to be managed by the Proton Consortium multisig (committeewps) and deployed through DAO proposals/votes, Consortium proposals, and BP votes. Metallicus will direct 50% of all trading fee revenue from the Proton DEX protocol into the PWC, with the remainder going towards maintaining the protocol and front-end, as well as operational and vendor costs. The goal is to reduce the circulating supply faster than the existing inflation and make Proton a trustless cross-chain exchange layer for Web3. To capture the regulated crypto trading market, Proton must focus on attracting liquidity, being compliant and licensed, having a user-friendly interface, strong security, global fiat on/offramps, and a diverse range of digital assets.
A New Era of Development & Opportunity
With the passing of the development grant proposal, the future of the Proton Blockchain is looking brighter than ever! The community can now look forward to the deployment of the DAO dashboard which will serve as the central hub for all grant activities and decision-making. The DAO dashboard will empower the community and all those invested in the success of the Proton Blockchain to shape its future.
The core developer, Metallicus, is dedicated to delivering on the Proton Roadmap and making Proton the leading layer one blockchain in the industry. With the passing of the grant proposal, the resources and support are now in place to drive Proton to new heights.
Exciting times are ahead, and the Proton community can expect regular updates from Metallicus on the Proton Roadmap and new developments that will further enhance the capabilities of the Proton Blockchain.
Recently, Marshall Hayner shared a list of proposed developments for the Proton chain. Metallicus plans to prioritize and organize these developments into a comprehensive Roadmap for the blockchain’s overall success. With exciting plans in the works, now is the time to support our developers, block producers, and community members to spread the word about this new era of development and opportunity. An overview of some of the potential developments are:
- Proton DAO dash governance board
- Proton streaming vested payments (receive vested salary or payment by the minute, hour, day)
- NFT bridge (ETH, MATIC, AVAX)
- Proton DEX liquidity incentives and listing for top 200 cryptocurrencies
- Proton DEX advanced trading functions (Margin, Futures)
- Proton+ Biometric Recovery (recover your keys with a biometric multi-sig backup)
- WebAuth multi-chain support (METAL, ETH, BNB, AVAX, MATIC, BTC, DOGE)
- Metal Pay 3.0 with full Proton integration via WebAuth (trading, lending, authorization)
- Metal Dollar support for multiple fiat currencies with FX capability (USD, EUR, GBP, etc)
- Proton compliant private transactions
- Proton ISO20022 compliance
- Proton fiat payment messaging protocol (ability to interact with payment processors and banks from the chain)
- Proton OTC integration portal for all OTC desks
- Proton Credit Card (with on-chain rewards and loyalty)
- Proton Trust Accounts (smart contract based trust accounts utilizing DID)
- Proton Minor Accounts (accounts for kids, with parental controls)
- Proton Invoicing (capability to invoice businesses or individuals on-chain)
- Proton Compliance Dashboard (ability for banks and fintechs to track and trace real time, ability to adhere to BSA and AML regulations on-chain)
- Proton Reporting (financial reporting capabilities for individuals and corporations to use in an easy and transparent manner on-chain)
- Expanding fiat ramps for all jurisdictions globally (wire in and wire out)
- Proton Bank API (connecting banks to handle cross border settlement and remittance)
Transparency & Commitment
Metallicus is dedicated to upholding its ethos of “Always act in good faith and with full transparency” in all of its proposed developments for the Proton blockchain. We believe that keeping our community informed and up to date is key to the success of the project. As such, we will make every effort to provide regular updates and communicate openly and transparently throughout the implementation of each development, as always. Metallicus has also offered a board observer seat to a qualified BP representative to attend certain meetings where the allocation of the core development funds will be discussed, and the status of the products being built.
About Metallicus
We are building the world’s most customer centric digital asset banking network supporting retail and corporate clients. We know cryptocurrencies, digital assets and blockchain are technologies that empower people and businesses like no other. They should be for everyone — and be secure, regulated, sustainable and, above all, simple and easy to use.
Metallicus is driven by the idea that strong regulation, preventive security, verified identity and a seamless customer experience are absolutely essential for integrating and scaling uses of digital assets and cryptocurrencies into everyday financial services and economic activities. We have radically reset expectations for eco-friendly, energy-efficient and infinitely scalable blockchain-based solutions.
Imagine a future where crypto meets cash; where banking, payroll and other financial activities meld seamlessly with the world of cryptocurrencies and DeFi — in a secure, regulated environment that vastly accelerates the transformative potential of blockchain technology.
That is the future Metallicus is building.
#Metallicus2023
