What a week we’ve had at Nav Coin HQ, so much to share! The Network Vote on the Nav Community Fund has officially started. We’ve released an update for the NavPi which makes keeping your NavPi up to date simple. We’ve converted 2 of our casual staff to permanent positions and hired a new part time developer. That’s not even the end of the list, just go ahead and read the article already.
Network Vote on Nav Community Fund Started
Nav Coin is currently voting on introducing a change on the consensus rules to create a community fund using part of the staking rewards. The fund will be used to pay for projects that the Community or the Nav Coin Team can initiate. Proposals will undergo two rounds of voting, one to approve the proposal and one to approve the release of the funds. The major difference to other proposal systems is that we will only release the funds when the network agrees the proposal has been fulfilled. This fund will greatly accelerate Nav Coin’s progress, and will help grow the value of the network.
The vote has officially started today, so if you want to have your say, please make sure you grab the latest version of the wallet (v4.0.6) from the downloads page of our website and cast your vote.
You should be presented with a popup option to choose yes or no. At this stage, we are proposing reducing staking from 5% to 4% and generating 0.25 NAV per block to add to the community fund which roughly cancels out to have the annual inflation remain the same. The stake percent and funding amounts are still up for debate. Similar to the two vote proposal system there will be another network vote when we’ve completed the work when you get to decide whether or not to include the new consensus method with specific rates into the source code. This vote is to decide if a community fund is even something the community wants us to work on.
We’ve created a tool to track the progress of the vote which you can see here:
NavPi Auto-Updater Released
For those yet to update to the newest wallet and if you’re using a NavPi to stake, we understand that the updating process can be complicated and time consuming due to the security restrictions of the device. To streamline this process we’re releasing a NavPi auto-updater tool.
This tool will check for new releases published to our github account and install the latest version for you. Once you’ve updated you can choose to have the updater run daily to perform automatic updates whenever we release a new version. If you choose the automatic option, it means you won’t have to login to your device to run the updater script. You will see a message in the UI when an update has been performed and asked to apply the update and reboot your device. If you are an existing NavPi user we’ve published the instructions for how to install the updater here:
If you’re wanting to setup your Raspberry Pi to stake your NAV for the first time, we have included this autoupdater in the latest NavPi image (1.0.3) which is available from our downloads page:
Once you’ve up to date with this version, you will also have an option to keep the UI up to date using the Update option on the Control page.
This update also includes a way to cast your vote for the community fund on the homepage of the NavPi so you don’t have to go and edit your navcoin.conf file manually.
We strongly urge users to update to the latest Nav Coin wallet and NavPi interface as soon as possible. NavPi owners are a large part of our staking community and we want you to have your say in the Nav Coin Community Fund vote as well as garner from the latest Nav Coin features.
3 New Team Members
It’s an exciting time at the Nav HQ as we’re officially expanding our team in Auckland – adding one new full time position and two new part time positions. We’re gearing up to really push Nav Coin in the upcoming months – and growing the team will help with all the exciting new projects on the horizon.
Kieren Hyland has signed on as our Marketing Director starting full time from early November. Kieren has been spent the last 4 years working in strategy at a digital marketing agency in New Zealand, and has worked on some of NZ’s largest brands. He has been working with us on a casual basis for the last 6 months and has so far added a lot of value to the Nav Coin brand and our digital strategy. We are excited to see what he can achieve when he’s fully focused on Nav Coin and we are grateful to have him on board the team.
Laura Harris has signed on as our new Creative Director in a part time capacity starting this week. Laura is a creative entrepreneur and visual communication strategist with natural marketing acumen and a designer’s eye for detail. Laura has over 8 years of experience in digital creative industries in New Zealand, and abroad. If you’ve been following our social channels you will have already seen the impact she has been able to make in just a few short days.
Paul Sanderson has signed on as a Senior Engineer in a part time capacity starting this week. Paul comes with a wealth of experience and has engineered everything from Artificial Intelligence to Human Hardware Interfaces and everything in between. Our Chief Engineer Craig MacGregor has previously worked with him in the Web Development sector and has head hunted him for a position on the Nav Coin Team. We are excited to have him on board to work on our big ticket projects and to have input into our upcoming ADapp platform.
What this means for Nav Coin is more marketing initiatives undertaken, increased presence on our social and support channels and more development projects progress which is a huge win for the community and our project.
Bittrex Maintenance Resolved
The Bittrex Nav Coin wallet was in maintenance mode earlier this week, meaning users could still trade but weren’t able to use the deposit and withdraw features. The temporary maintenance mode was due to many users still using old versions of the Nav Coin wallet (version 4.0.4 and previous) which was causing Bittrex to experience some intermittent network issues.
By reaching out to the community and sharing helpful resources created by community leaders, users were able to update their wallets and the issue was resolved within a couple of days. Thank you to everyone who acted quickly to get us back up and running with Bittrex.
Binance winner announced
This week we announced the winner for the Binance Post & Vote Twitter competition. We’d like to congratulate Alex Ray (@_alexray), the winner of the 1000 Nav Coin Grand Prize. While Nav Coin didn’t make it onto the Binace exchange exchange this time around, we still wanted to show appreciation for the participation of our awesome community and gave the NAV away anyway – and Alex was the lucky winner.
— NAV Coin (@NAVCoin) October 17, 2017
Thanks again to everyone who participated and helped make this contest an (almost) success.
In case you missed it, you can check out the contest here:
Chinese site & Ukrainian pages live
We’ve got even more translated pages live this week – with a full Chinese translation of the Nav Coin website, and an overview page for Ukraine. You can view the links below:
Chinese Website – https://cn.navcoin.org/
Ukrainian Page – https://navcoin.org/ukrainian/
Thats it! We hope you enjoyed the update.
Nav Coin Team