Guapcoin Rosewood Update Delayed: Important update for Masternode owners and Stakers! Must read!

guapcoin rosewood update
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Guapcoin developers are hard at work testing new features on the testnet. As a result, the roll-out of the Rosewood update will be delayed and combined with the Tulsa update. The Tulsa update is the next major upgrade to the Blockchain and will require extended testing on the devnet before implementation onto the main-net. Developer testing is expected to continue until the end of August. If testing is a success, the Guapcoin 4.0 software upgrade to all Masternodes will be required. 

Masternode(MN) holders will have 20-30 days to upgrade. 

Once at least 90-95 percent of the network is upgraded, a softfork will occur automatically. Any Masternode that has not upgraded within the deadline will be rejected from the network and will not receive Proof of stake rewards. In March of 2021, Masternode owners voted and approved the Tulsa update which is designed to deliver the following features.

1. Treasury funding:
2. Governance: Onchain masternode voting
3. The ability to submit proposals on chain
4. Rewards increase and update: 25 guap will extend to block 2,000,000
More information regarding the new rewards structure can be viewed here –> https://www.guapcoin.org/wp-content/uploads/2021/03/Guapcoin-MN-Owners-Vote-Final.pdf

 

tulsa black wall street

Below are the frequently asked questions.

1. What will happen when Guap Reaches Block 1,000,000?

Answer: Since the Guapcoin Rosewood update will be slightly delayed, the halving of 12.5 Guap Masternode and 2.5 staking rewards will automatically occur until we roll out the next major softfork (Tulsa) update. Meaning Masternode rewards will be reduced to half temporarily.

2. What will the Masternode reward payout be after the Tulsa update?

Answer Part A: After the Tulsa update, rewards will increase to (25 guap) with the following payout… 16 Guap to Masternodes, 5 Guap to POS = 21 GUAP
Answer Part B: 4  Guap awarded to Treasury .. as voted by Masternode holders

3. What is the purpose of the Treasury Fund?
Answer (Part A). The Treasury Fund will ensure the sustainment, growth and further development of the Guapcoin infrastructure.
Answer (Part B). Community members can submit funding proposals to improve and create additional features, services, and platforms which support the Guapcoin ecosystem.
Answer (Part C) The Treasury Fund is also designed to fund marketing and promotion of Guapcoin to the world.

4. How will Masternode owners be notified of the Tulsa upgrade?

Answer (Part A) All social media pages, The Guap Foundation newsletter, Slack, telegram, and Guapcoin websites will announce the upgrade including full instructions and details. Video tutorials will also be made available on GuapAcademy.org and GuapUniversity.com
Answer (Part B) All software will be publicly available on the Guapcoin Git Repo
Answer (Part C) Developers will also offer customized Masternode upgrade scripts on the private Guapcoin Git Lab page. (donation required)

5. How much time will Masternode owners have to perform the upgrade?

Answer: After final testing and validation, Masternode owners will have a maximum of 30 days to perform the upgrade. The new Tulsa updated features will not become active on the network until 90-95 percent of the Network nodes are upgraded. After the Masternodes are upgraded, we will initialize the new features across all nodes automatically.  We have a tentative completion date of Sept 30 2021, however this date could change. For more information, contact the Guapcoin Devs via Telegram here.

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