The COLX budget & governance system is a key component helping to keep the ColossusXT project on track to deliver its vision and achieve its technological objectives. In the recent days , the core team of COLX has shared two budget proposals for the month of November aiming to bring more elements to the existing ecosystem. The governance system implemented in COLX allows masternode holders to vote for the future of the project.
The $COLX budget & governance system is a key component for keeping the project funded and on track.
?️Current November 2019 #COLX #Budget #Proposals;https://t.co/AmwPMjG0fahttps://t.co/WgQYbizZod
In Wallet #Governance;https://t.co/g8MG9otmnJ
?We appreciate the #support!
— ColossusXT [not giving away ETH] (@ColossusCoinXT) November 18, 2019
How to vote
Masternode owners are now able to cast their votes on COLX proposals with ease by way of the governance portal within the wallet. This feature is a big gain of time and remove the frustration of previous complicated voting mechanisms. More details on the voting process can be found here : https://wiki.colossusxt.io/index.php?solution_id=1045.
To participate in the COLX governance system for this month, it is important to download the new COLX Core v1.2.1 update available here : https://colossusxt.io/downloads-wallet/
Proposals details
The monthly proposal has been divided in two distinctive parts covering team expansions and expenses as well as the introduction of a marketing effort to increase COLX audience. In order to be able to vote , it is mandatory to own at least one masternode to be considered as eligible. Click here to read about SINOVATE DIN AURORA hardfork and what it changes for investors.
Proposal Part 1: 4.95 Million COLX in total from 10% to proposals for all phases will go into the Blockchain Development ( Two new part-time developers for about 5k USD monthly). This proposal is accessible through the « DevelopmentFund18 » name for a total amount of 4950000 COLX. Associated proposal hash: dd004f7f9c8fef0067eed82d23cbd451b3fac1db1247475fda0addf4e9166619
Proposal Part 2: 1,500,000 COLX from 10% to proposals will be allocated to the marketing budget. This proposal is accessible through the «MarketingBudget14» name for a total amount of 1500000 COLX. Associated proposal hash: 4a34b6385ca6e630be92c558e5c4ce7123ec1b26100de7eee7eaa9a40b384687
All the information and details about COLX at http://colossusxt.io/