Nav Coin Community Fund

Craig MacGregorNav Coin Updates0 Comments

We have had some interesting suggestions from the community on how to support Nav Coin’s development and marketing efforts and the NavPi batch 3 have started shipping with free track & trace upgrade.

Community Fund

The Nav Coin community have suggested we modify our staking system to include a community fund which can be used to support Nav Coin projects. We have put together a proposal of what we think this update could look like.

We envisage the Community Fund being decentralized with anyone able to submit a funding proposal. Funds can only be accessed when a proposal is accepted and it reaches a majority consensus network vote. The Community Fund will be created by reducing the staking rewards to 4% per annum and issuing 0.25 NAV per block to the decentralized fund which cancels to a near zero increase to our current annual inflation.

The first steps toward implementing something like this is to get feedback on our proposal and to initiate a network vote to see the community’s interest in reducing the stake reward and implementing a Community Fund.

In order to facilitate the voting process we have released version 4.0.6 of our wallet. Users using the graphical interface will be shown with a dialog once the voting period starts allowing them to choose their vote.

Please visit the Community Fund page on our website for further information about this proposal and more detailed voting instructions.

NavPi Shipping

We have secured DHL as a shipping partner for the Nav Coin Store and have begun shipping batch 3 of the Nav Pi. We have shipped over half the pending orders and are looking to clear the backlog by the end of this week. All orders shipped with DHL are receiving a free upgrade to tracked shipping. Moving forward we will be updating the shipping costs in the store to include both tracked and untracked options which you can pay for at checkout.

We are also in the process of re-ordering another batch of NavPi and hope to have more stock before this batch runs out so we can keep the supply rolling. Our Operations Manager Guy Sinclair is back from holiday next week, so the dev team will be able to hand the store management back to him and continue with our development projects.

NavPay Update

The start of the Beta Test of the NavPay wallet is unfortunately still on hold. We have been unable to resolve the signature error that we started getting while trying to send transactions. Despite our efforts to roll back all the repositories to the last known working version, we have still been unable to pinpoint the cause. We have had to resort to starting from the beginning and slowly rolling all the repositories and libraries involved forward, step by step, trying to find and resolve the issue. We are doing our best to get this project back on track as soon as possible, but for now you will have to bear with us while we continue to debug the issue.

Binance Vote

We are still awaiting news whether we have been successful in our bid to get on the Binance Exchange. We will post the competition winner as soon as the vote has been concluded by Binance.

NavTech Set Up Guides (English & Spanish)

NavTech is a big part of what makes Nav Coin powerful, and while this code is open source for anyone to use, there are only a handful of users that have set up servers for the community to use (and process anonymous transactions).

Community members Colvano & Bocyaj have created a guide that takes you step by step through the process of setting up a NavTech server cluster – which can earn you extra NAV through transaction fee’s.

The set up guide can be found here, in both English & Spanish:

And a list of NavTech servers can be found here:

Russian Translation Page

We’ve got another translation page to release this week – Russian.

Russia has expressed significant interest in the crypto market and has lots of potential, which means this will be a good addition for the website.

You can find this page here:

That’s all we have to report this week. There’s quite a lot there for the community to digest and discuss.

Talk Soon,
Nav Coin Team.

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