REI DAO Genesis Proposal #0 Was Passed, Binance Completed the $GXC — $REI Redenomination Plan

REI DAO Genesis Proposal #0 Was Passed, Binance Completed the $GXC — $REI Redenomination Plan

Progress Report May 18-May 24

Key points:

• REI DAO Genesis Proposal #0 was Passed
• Binance completed the $GXC — $REI redenomination plan

A. Product Development Progress

REI-Network:

- Snapshot sync and light node @to be released

- Improve virtual machine performance through Node Binding @ in progress

- Snapshot synchronization and light node P2P module transformation @50%

- Added merge snapshot test case @50%

REI-DAO:

- Batch transfer tool optimization @100%

- Genesis Proposal Released @100%

- Node voting rewards calculator development @90%

- Cross-chain bridge governance module design @80%;

GXC-Convert:

- Exchanges processed: 515 transactions

- Total: 65,631,223.69785 GXC (87.5% of circulation)

B. Operational Progress

• REI DAO Genesis Proposal #0: “ Governed by $REI Holders” has successfully passed! In total 39M $REI was voted to support the proposal and the proposal passed with flying colors. Thanks for the incredible 100% approval.
• Binance has completed the $GXC — $REI 1:10 Redenomination Plan! Reminder: Users will be able to use the Convert Function to swap their $GXS tokens for $REI tokens! Details: https://www.binance.com/en/support/announcement/8b47296e01d84df1bddf4db774718d8f?ref=AZTKZ9XS&utm_source=BinanceTwitter&utm_medium=GlobalSocial&utm_campaign=GlobalSocial
• AMA with Dan, the Bussiness Development Director of BeeHive has been held in REI Network Telegram group on May 24. Tune in for the recap to learn about BeeHive, the on-chain Play and Earn RPG game based on the very efficient Tri-Token architecture and playable by anyone.

C. REI Network Ecosystem

• Bee Protocol has been deployed on ClassZZ and REI Network mainnet. And it will deploy on BinanceSmartChain, OKXChain and Ethereum mainnet soon. Bee Protocol is a completely decentralized and permissionless social graph protocol, allowing NFT to swim WEB3 as an underlying facility.

Join the GXChain Community

REI Network is an EVM-compatible public blockchain. As an Ethereum para chain, it owns the features of lightweight, free and dev-friendly. REI Network is to effectively solve the current high cost and low-efficiency problems of public chains. Therefore, GXChain can achieve free, low-cost development, and rapid migration of applications, and can be shared and symbiotic with the EVM ecosystem, also supporting the development of Defi, GameFi, and NFT.

Users can access the REI token on:

Binance | Huobi Global| Upbit | Bithumb | Bittrex

If you are interested to participate in our community and receive timely updates from the following official channels:

Twitter | Telegram | Medium |Github | Reddit | Website| Discord

REI DAO Genesis Proposal #0 Was Passed, Binance Completed the $GXC — $REI Redenomination Plan was originally published in REI Network Project on Medium, where people are continuing the conversation by highlighting and responding to this story.