Governance assets

A community-managed treasury opens up a world of infinite possibilities. We hope to see a variety of experimentation, including ecosystem grants and public goods funding, both of which can foster additional Ray Network ecosystem growth. Ray Network has set the standard for automated liquidity provision: it is now time to set the benchmark for responsible but radical, long-term aligned on-chain governance systems.

Ray Network governance will be live from day one (smart contract release date).

In the meantime, XRAY holders will have immediate ownership of:

  • Ray Network governance
  • XRAY community treasury
  • The protocol fee switch

Initial governance parameters are as follows:

  • 1% of XRAY total supply (delegated) to submit a governance proposal
  • 4% of XRAY supply required to vote ’yes’ to reach quorum
  • 7 day voting period
  • 2 day timelock delay on execution

Governance wallets

ISPO CeFi Distribution Wallet

Used to withdraw rewards from the Delegators Distribution Program (CeFi). Soon to be replaced by a smart contract

Development & Marketing Fund Wallet

Used to store development & marketing funds

XDIAMOND Collateral Wallet

Collateral wallet with XRAY for redeeming XDIAMOND with rate 1 XDIAMOND = 100 XRAY


Governance minting & burning events

09/07/2021mint10,000,000 XRAY
10,000,000 were sent to ISPO CeFi Distribution Wallet.
08/15/2021mint31,000 XDIAMOND
31,000 XDIAMOND NFTs were minted. 16,000 were sent to ISPO CeFi Distribution Wallet for covering Early Delegator Bonus, 10,000 to XDIAMOND Community Wallet, and 5,000 to Development & Marketing Fund Wallet.
08/15/2021mint13,538,200 XRAY
406,152,800 XRAY tokens were minted, and then 392,614,600 XRAY were burned to get initial supply of 13,538,200 XRAY. 10,000,000 were sent to ISPO CeFi Distribution Wallet, 3,100,000 to XDIAMOND Collateral Wallet, and 438,200 to Development & Marketing Fund Wallet.

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