Proposal #5

What is this proposal about?

As announced earlier in the Crypto.org Chain Intergalactic Roadmap (https://blog.crypto.com/crypto-org-chain-intergalactic-roadmap/), we are proposing a network upgrade for the Crypto.org Chain mainnet crypto-org-chain-mainnet-1. This version is meant for the Draco II - Phase 2 mainnet upgrade to enable native token issuance via IBC solo machines. Token issuance is an essential building block for the Crypto.org Chain ecosystem. The tokens can be issued easily with solutions such as Solo Machine, and they are natively recognized and can be transferred around. If it passes, native token issuance will be available on the Crypto.org Chain, detailed summary and discussions can be found here (https://github.com/crypto-org-chain/chain-main/discussions/641)

The governance voting process

The community governance voting process for this upgrade will start once this proposal has been funded by sufficient deposit. If the proposal passes, the upgrade will be performed on block height 2,472,800. The Chain will be paused to allow the majority of validators to upgrade. Validators and full node runners will have to upgrade your Crypto.org Chain nodes to the latest release binary, which is v3.1.1 at the time of writing (https://github.com/crypto-org-chain/chain-main/releases/tag/v3.1.1).