What’s New & FAQ
PAC Protocol values its community and the feedback you provide. We are freshly recommitted to investing in our forward communications in a transparent and clear manner: When the PAC community asks us questions, either directly or through social channels, we are here to provide answers. While we’re always excited to hear what we’ve done right, it’s equally important to hear what we’ve done wrong, because hearing the uncomfortable feedback allows us to find solutions and make our products better. This dialogue with the PAC community is a vital part of our growth and success, and we are sincerely grateful.
With the current restructuring of our organization, your feedback will be at top of mind. The PAC product chain is ever-evolving, with more updates and improvements coming in response to the comments we have received from the community with yanDNA in BETA, plus yanSAFE /PACapp updates ahead for the release of YAN Token and the bridge for $WPAC. We anticipate many other initiatives being developed by the LLC to ultimately grow the network and the PAC brand, to everyone’s benefit. Quality work takes time, and as each improvement is completed we will notify the community in advance of its launch.
Today, however, is about answering the community’s questions and concerns. While we can’t exhaust the complete list of standing questions at once, we have decided to tackle them a few at a time each week for a regular Q&A that’s easily available to all. This provides our team time to consider the problems at hand and deliver thoughtful answers, while the community is allowed to read and process each freshly released batch.
Our hope is to shed more light to ensure the community understands our mission and procedures. Complete documentation for all products and processes will be part of our forthcoming communications, but we’d like to begin by answering to some of the louder questions, and adding to our website FAQ.
NEW FAQs:
Does the LLC own the majority of the Masternodes on the network?
No, the LLC does NOT own any Masternodes.
The LLC owners, of course, hold their own $PAC; a large portion of these coins were purchased individually when $PAC was valued at 1 satoshi, the same as many of our long-haul community members. What each owner chooses to do with their privately owned $PAC is not overseen by the company. Owners, at their discretion, invest their personal funds in furtherance of PAC’s operations and development. This includes deploying their own Masternodes (in the interest of stabilizing the network as the company continues building products), investing in brand awareness, and attracting leaders that can truly make a positive impact on the future of PAC Protocol.
Our leadership is committed to the growth of the company and will continue to support the network and products in any way that they can because we are confident of PAC’s forward success!
Why hasn’t the Superblock been working?
Our team has worked through several theories as to why the Superblock has not been fully functional: changes to the dashcodebase for transaction fees, the switch from POW to POS, or the fact that our network is bigger than Dash, off of which PAC Protocol is forked. While quorum building is still functional, not all Masternodes are in a quorum at the same time. This has led us to believe that the Superblock not being rewarded is a matter of the selected winning Masternode not being in a quorum at the point of payout. We are fairly certain that the next update will bring us closer to a permanent solution to this problem with Quick POSE scoring and Superblock rewards.
Why was the last Superblock payout so large and why wasn’t it announced?
During the July 8th, 2021 update of the PAC Protocol core, we announced that a 1.3 billion $PAC payment was released to clear unpaid proposals and budgets that had been approved but not executed. This covered months of payments that had stalled through the errors in the code, which are currently being addressed by our development team. Everything is functional on the network for the On-Chain Budget (OCB), including registration and voting metrics, except for the reward being sent to the approved proposals.
A Superblock contains the $PAC of 16,616 blocks, which is roughly 168 million $PAC every 28-30 days. This is drawn from the network reserves: for each new block that is minted, there is 100 $PAC rewarded to the owner that minted the block, 8280 $PAC assigned for a Masternode reward, and 10,119 $PAC reserved by the network for potential Superblock payouts.
Because of the faulty payment mechanism, winning proposals on the network from October 2020 through July 2021 needed to be resolved, and thus the 1.32 billion $PAC was minted. This was all completely within the bounds of our disclosed procedures.
Why can’t we see proposals?
You can! But we agree that this should be made easier through our product interfaces and have made that a priority as the code is updated (admittedly this UI inclusion was not a top priority at the launch of yanSAFE because we were still troubleshooting the Superblock).
Currently, in the legacy wallet you can go to the governance tab where you can see, vote and inspect the proposals on the network.
in yanSAFE it’s the “>_” link in the bottom left corner, and it will open the command console. Type "gobject help" to call up all of the possible commands using gobject. "gobject list" will bring up a list of all active proposals (as of this writing, there are no active proposals).