Conflux (CFX) Foundation Plans to Convert Remaining FC Tokens to CFX
Peter Zhang May 20, 2025 03:24
The Conflux (CFX) Foundation announces its plan to convert the remaining 3.52 million FC tokens to CFX, ceasing further FC minting, as part of community governance efforts.
Conflux (CFX) Foundation's Strategic Decision
The Conflux Foundation has unveiled a strategic plan to address the remaining supply of its FC tokens. This decision follows a governance proposal from the community, which has incited significant discussions and active participation across various channels, according to the Conflux Forum.
Details of the Plan
As of now, the total supply of FC tokens is capped at 21 million. Approximately 17.48 million tokens have already been distributed, leaving about 3.52 million tokens in the treasury. In response to community feedback, the Foundation has decided to mint these remaining tokens and convert them to CFX through a one-way swap. This move will effectively disable any further minting of FC tokens permanently.
The Foundation assures that this conversion process will be executed promptly, with full on-chain verification provided upon completion. This transparency is aimed at maintaining trust within the community and ensuring the integrity of the process.
Future Governance Participation
Looking ahead, the Foundation has outlined a method for community involvement in governance proposals. When new proposals arise, the community will first conduct an internal vote using FC tokens. Based on the outcomes of these votes, the Foundation will delegate its staked voting power in the on-chain governance process accordingly.
Furthermore, the staking rewards generated will be allocated to support testnet operations, incentivize community contributors, and fund other community-benefiting initiatives. Any surplus from these operations will be restaked, continuing to participate in Conflux Governance voting.
Community Engagement
The Conflux Foundation expressed gratitude for the community's ongoing engagement and contributions to governance processes. This initiative reflects the Foundation's commitment to fostering a participatory and transparent governance framework, ensuring that the community remains at the core of decision-making processes.
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