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Halo-Jehuti

Community Proposal-002: Split Amount

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As most of you are aware, Proposal 001 passed with over 70% of masternode holders voting in favour of a coin split. So first, let me say that represents a very large amount of Halo holders who participated, showing that we have a very engaged community.

Now it’s time to vote on the Proposal 002 which is the split amount. We have 4 options:

1:100
1:250
1:500
1:888 

Since the coin split vote has already passed with an overwhelming majority supporting it, the split amount itself will simply be determined by a “plurality voting” method (known as “first past the post” in British voting terminology). This method is defined as “one in which voters indicate on a ballot the candidate of their choice, and the candidate who receives the most votes wins”

For example, if 888:1 receives 30% support, 500:1 35% support, 250:1 15% support and 100:1 20% support; then under this scenario 500:1 would be the winner due to being the most popular option.

Just like last time, please email your vote option along with a screenshot of your account to proposal@haloplatform.tech by Friday 19th of October, so we can find out the most popular choice and move ahead with things as soon as possible.

 

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Here is the result of the vote (Thank you for your patience, DEX launch went smoothly but was still very time consuming) for the split. It really came down to 1:500 and 1:800 (1:100 received a few votes). The winner ended up being 1:800 with 1,750,180 total votes out of the possible 2.9m So with greater then 50% it is what we will move forward with. Regardless of who the winner was, we as a Core team feel this will be a great move for the economics of Halo and prove to be a well received within the markets.
Our next steps will be to finalize our Masternode 1.1 patch, which includes the Masternode reset. We will prepare the necessary systems for the split (it is a hard fork, we will pick a time of low traffic to fork), the dex will turned off for Halo deposits, all buys and sells will be cancelled for Halo (effectively refunding), and we will fork the code, run inflation on the Dex smart contract (increasing all Halo holdings by 1:800).


After those are completed we will resume Dex deposits and reopen the Halo Markets, Resume the Masternode Contracts, which will be also changed for the new higher requirements of Halo. We plan to have this completed in the next few weeks, as there are other items pending the completion of this which will be part of a separate upcoming announcement.

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