The Ethereum Classic community has grown substantially since its inception in July of 2016. In order to further Ethereum Classic’s vision, the community needs to adopt a monetary policy that balances the long-term interests of investors, developers, and business operators.

This statement represents a collaborative show of support for the monetary policy proposed in ECIP 1017. As industry stakeholders, ETC community members, exchange operators, mining pool operators, miners, wallet providers, developers, the Distributed Autonomous Coalition Asia (DACA) and the China Ethereum Classic Consortium (ECC), and other industry participants; we are committed to jointly planning and implementing a road map to effect the future ETC monetary policy.

We have agreed on the following points:

  • We understand that a monetary policy has been proposed that establishes an upper bound on the total number of ETC that will ever be issued, and that this policy was the result of extensive discussions within the community. The policy also defines a method of reducing the block reward over time.

  • The new monetary policy sets a limit for the total ETC issuance. The block reward will be reduced by 20% at block number 5,000,000, and another 20% every 5,000,000 blocks thereafter. Uncle block rewards will also be reduced. Due to variations in the reward rate of ETC, we anticipate the total supply to be approximately 210 million ETC, not to exceed 230 million ETC.

  • We will continue to work with the Ethereum Classic protocol development community to develop, in public, a safe hard fork procedure based on the proposed monetary policy. ETCDEV Team will provide an implementation of the monetary policy for both the geth and parity clients after the hard fork procedure is agreed upon.

  • We will run consensus systems that are compatible with Ethereum Classic clients, which will eventually contain the ECIP 1017 monetary policy and the hard-fork, in production.

Based on the above points, the timeline will likely follow the below dates.

ecip1017 plan
  • Geth and Parity clients that include the updated monetary policy are expected to be released in June 2017.

  • If there is strong network-level support, the hard-fork activation will likely happen around Fall 2017.

  • If the hard fork is activated, the first reduction in block reward will happen around December 2017.

Our common goal is to make Ethereum Classic a success. We believe that the community can unite and work together to achieve a sustainable global platform.

Together, we are:

白洪日

CEO

币创网bichuang

陈刚

CEO

ETCWin & 91pool

顾颖(初夏虎) Eric Gu

CEO

ViewFin & szzc.com

郭宏才 Chandler Guo

Miner & Investor

韩锋博士

Chairman

DACA区块链协会

黄天威

CEO

比特时代BTC38

胡洪杰

Vice Chairman

DACA区块链协会

李大伟

CEO

CHBTC

毛世行

CEO

F2Pool

徐刚 博士

Developer

许子敬 Ryan Xu

Miner & Investor

张淞皓

CEO

BTC123

赵千捷

Vice President

BTCC

邹来辉Roy Zou

Chairman

以太坊原链协会 (Ethereum Classic Consortium)

Igor Artamonov

CTO

ETCDEV Team

Charles Hoskinson

CEO

IOHK

Michael Moro

CEO

Genesis Global Trading

Yates Randall

CTO

epool.io

Barry Silbert

Founder & CEO

Digital Currency Group & Grayscale Investments

Cory Tselikis

Miner Investor and Pool Operator

etc.minerhub.io & bec.minerhub.io