ICON Updates ICX Transaction Fee System to "Fee 2.0"

Yesterday, “Fee 2.0” was published to the ICON mainnet. Fee 2.0 is a major update to ICON’s transaction fee system that allows DApp operators to pay transaction fees for users. At first glance, this update may seem insignificant, but it’s actually a huge step in the right direction for mass adoption of DApps.

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An In-Depth Look at ICON's Un-Staking Period

In a previous post, we discussed ICON’s staking reward model on a general level. While that post touched on the “un-staking period” concept, I’ve seen a lot of confusion regarding the un-staking period over the past few weeks. In this post, we’ll take an in-depth look at ICON’s un-staking period to understand what it is, and why it’s needed to maintain a secure and stable network.

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ICON's ICX Staking Reward Model

In ICON’s initial network design, public representatives (P-Reps) had the power to influence ICX reward rates. Recently, ICON Foundation decided to change the reward model to reduce the power of P-Reps. In the network’s current state, the ICX reward rate is a function of the percentage of network staked, and there are no other contributing factors. In this post, we’ll discuss how the ICX reward rate is calculated, along with the economic implications of a lowly staked network versus a highly staked one.

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