All you need to know about EPIP-1

All EPKers:

EPIP-1 has been passed in EpiK PreDAO.

In order to make sure all EPKers understand what will happen when the publicity of EPIP-1 ends at Sep 23 15:25:00 UTC 2021, we will describe the process step by step in this article.

[1] An update will be tagged as EPIP-1 Update and committed to go-epik/master branch in Github at Sep 23 15:25:00 UTC 2021. In this update, we will support a new function to allow all EPKers to transfer their basic pledge from a knowledge node to another without waiting for 60 days to withdraw and then re-pledge.

[2] All EPKers should follow the tutorial to update your own knowledge nodes to the latest version which is tagged as EPIP-1 Update and updated in [1]. Once the latest version is published, all EPKers should finish updating their knowledge nodes as soon as possible.

WARNING: If more than 51% knowledge nodes have been updated correctly before Sep 26 15:25:00 UTC 2021, T+60 will take effect. If Sep 26 15:25:00 UTC 2021 comes, T+60 will take effect too. Once T+60 comes into effect, the old knowledge nodes will be split into a fork network and won’t get further rewards in EpiK Protocol Main-net.

Q & A

Q1: Will updating the codes affect the income of my knowledge nodes?

A: Updating the codes requires restarting the daemon, which usually takes 5–10 minutes. There will be no benefit during the restart phase. If your knowledge nodes have been updated successfully, you will get income as before.

Q2: Does the miner node need to be restarted?

A: Yes. After restarting the daemon nodes of the latest version, you should restart your miner nodes.

Q3: What will happen if the knowledge nodes remain on the old version?

A: If the knowledge nodes are not updated before T+60 taking effect, they will be split into a fork network and won’t get further income in EpiK Protocol Main-net.

Q4: Is the releases schedule changed?

A: No. EPIP-1 only involves the modification of the basic pledge lock-up days.

Q5: Where does EPIP-1 come from?

A: EPIP-1 is proposed by Principle and BAF Capital via EpiK PreDAO. All proposals in EpiK Protocol is governed by DAO. Here is a guideline about EpiK PreDAO.



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