🚀 Covalent is making strides towards the completion of the New Dawn, with 85% progress achieved! The network is set to migrate staking back to Ethereum in preparation for Long-Term Data Availability via the Ethereum Wayback Machine. 🎉

However, as the network expands, it's running out of delegation room for CQT token holders. To address this, the Covalent Foundation proposes to increase the max delegation room, targeting roughly ~20% supply staked, potentially increasing to ~40% in the future.

Currently, the Covalent Network has surpassed its previous total staked at 13.79% (~137M CQT) with a target of ~20% (~200M CQT). But it's nearing the maximum delegation room with only 2.12% of room left.

To align with the increased CQT delegate demand, the proposal is to increase the Max Multiplier of each Block Specimen Producer Operator, thereby increasing the total delegation room.

All CQT token holders are encouraged to vote on this proposal. Your vote counts! 💪

These changes will ensure the security and stability of the Ethereum Wayback Machine, solving the Long-Term Data Availability problem. Let's discuss more in the comments! 👇