Stratis is excited to be announcing the outcome of the recent community vote for the StratisEVM initiative, and thanks every community member who voted and showed their support. The Stratis community's involvement and excitement continue to fuel the project's development and success.
The community vote was completed with a resounding 99.33% result in favor of the new proposal.
As a consequence of the successful community vote, the next phase will be the commencement of the token swap period, paving the way for the deployment of StratisEVM. Stratis recognizes the community's excitement for the token swap period; however, a specific start date cannot be determined at this time. Stratis is aiming for a 6-8 week schedule for the token swap phase to begin, with the StratisEVM chain becoming operational soon after, although this is subject to a number of conditions, including;
Stratis has already begun conversations with the key exchanges that support the existing token pairings. The Stratis team is working hard to guarantee a smooth transition when the STRAT token is introduced.
Stratis is committed to ensuring the security and integrity of its blockchain platform. To secure the community's safety, they will collaborate with a major web3 auditing firm to undertake rigorous security audits. These audits are crucial for discovering and correcting possible vulnerabilities or flaws, as well as building trust before proceeding with the token swap.
What to Expect
Holders of the existing STRAX Token will be able to participate in the token swap in two stages. Initially, holders will be able to cryptographically burn their STRAX tokens for the token exchange; however, this will only be feasible before a communicated snapshot is taken.
Additionally, a 'verifying tool' will be offered, allowing token holders to trade their tokens in a non-custodial way by giving cryptographic evidence of their token balance prior to the issuance of new tokens on the StratisEVM network.
The introduction of the token swap period will be followed by guidelines, documentation, and dedicated support channels to assist with any queries or concerns about the processes.
If you have any issues or need additional explanation on any of the above topics, please contact one of the team members via the Stratis Discord Server.
The StratisEVM Voting Update represents a significant milestone in the development of the Stratis blockchain platform. By introducing a token-based voting mechanism and a transparent proposal submission process, Stratis has taken a big step toward enhancing its community's involvement and platform governance. This update not only strengthens the Stratis ecosystem but also sets a promising precedent for the broader blockchain industry. With increased community empowerment, security, and innovation, Stratis is well-positioned to continue making waves in the world of blockchain technology.