$XIN
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Missed the X space? Everything you need to know is in this clip. Here's the recap from Flare CPO @j00sko on FIP.16 [Spoken audio]: It was a busy half a year let's say, but it's been a very rewarding one. We've done a bunch of stuff and as far as FIP 16 goes, it's pretty much on track and on Tuesday we did the last thing. Next Monday we did the last thing on the node level. Next Monday we're doing the final thing on the FSP level and then it's just ramping up the MEV and moving all these to fire. So just to recap on some stuff, so FIP16 pretty much fully revamped the economics. What it means is we firstly created a much different inflationary schedule. So we lowered inflation from 5% to 3%. We limited max inflation to 3% of 100 billion. We're increasing the FDC fees because those are the things that are used outside of Flare, but they really need to reward Flare, people that stake on Flare, people that delegate, and also Flare data providers. And we also did some other stuff. So specifically, we constituted Fire, so the Flare reinvestment entity with the main point being that we now use the fees that accrue from different protocols, F assets in the future, FCC in the future, FCE to strengthen the ecosystem in whole. And also, and that's probably going to be the most important thing that we're going to be talking about today, we change the way how vote power calculation works by moving much more power to the staking part, to the P-chain staking, which is much better than before because this This provides a much healthier ecosystem, much healthier nodes, and also aligns the incentives of everyone. So those are the things, and we're pretty much at the end, and on Monday we're flipping the penultimate switch, and then it's just getting the MEV on the ramp, and how do we get the MEV on ramp? Well, we're bringing new projects, we're bringing new things, we're bringing new users, and we're just with each and every new users, we can extract more out of everything. without extracting this really, but we just capture the value that's already in the system, making the system more efficient, but also making it serve FLR holders.