Covalent Launches Governance Proposal: Expanding CXT Staking Privileges and Adding BSP Operators
Publication Time:2024-08-02 10:16:06
On August 2nd, Covalent, a company focused on AI-driven modular data infrastructure, announced the launch of an important governance proposal. The core of this proposal involves increasing the maximum delegation multiple for CXT holders to 40 times and adding new BSP operators in order to enhance the staking experience and network capacity of CXT. This move aims to respond to rapid growth demands, ensuring that while increasing the delegation space, bottlenecks or limitations on CXT holder participation are avoided. The proposal sets a target of approximately 35% of the circulating supply, which would be roughly 297 million CXT tokens. This is crucial for maintaining network scalability and ensuring system security. The proposal is open for voting to all CXT token holders and delegators, and Covalent has initiated related activities on the Galxe platform for a period of two days.
Covalent
CXT
Governance Proposal
Staking Delegation
BSP Operator