IF YOU RUN A NUCYPHER NODE THIS IS A MUST READ. Hello hello.
09 Apr 2021, 18:38
🚨IF YOU RUN A NUCYPHER NODE THIS IS A MUST READ🚨
Hello hello! A huge thank you to everyone who participated in the validation process for Proposal #1 – Improve staker P/L by increasing period duration. So far, over 282 million NU has backed the proposal.
Although this means we’re safely over the minimum participation threshold of 25%, we did not reach a 60% quorum in time to enable the first 7-day period to commence this week. Nonetheless, barring the unlikely scenario in which the next 188m NU chooses to invalidate the proposal, the latest the upgrade should occur is Wednesday April 14th at around 3pm UTC – at the end of the normal two week validation window.
The upshot is that the first requisite commitment to the new 7-day protocol will be due Thursday April 15th at 00:00 UTC. Once the upgrade is executed next Wednesday at around 3pm UTC, stakers will only have 9 hours to restart their worker such that it stakes and commits on the new protocol in time. All stakers must restart their nodes in this window. Please set a calendar event or alarm for 3pm on 04/14/21 so you don’t forget, and keep a close eye on the Discord #announcements📣 channel for the next 6 days or so.
Crucial steps to follow on Wednesday Apr 14th:
(1) Make sure your node is running nucypher v4.8.0 or higher. You can do this anytime.
(2) Check the discord #announcements📣 channel after 3pm UTC for confirmation that the Proposal #1 upgrade has been enacted and executed.
(3) Shutdown your node, then start it up again. You can find instructions for specific actions here depending on which package your worker runs with (Docker, systemd, etc.)
Please be aware that if you fail to restart your node in time for it to commit to the first period of the new protocol (starting Thu 00:00), you will miss out on at least 7 days worth of rewards.