Enjin Announces Major Fort Canning Upgrade Scheduled for November 9
Written with artificial intelligence.
Enjin is set to launch the Fort Canning upgrade on its Relaychain on November 9, followed by its Matrixchain upgrade on November 16. Key features include automatic NFT loans, scheduled token expirations, and enhanced governance mechanisms, pending successful governance referenda.
Upcoming Upgrade Details
Enjin has announced the Fort Canning upgrade, touted as the most significant update in the history of its blockchain. The upgrade will first go live on the Enjin Relaychain on November 9, with the Matrixchain upgrade scheduled for November 16. Both upgrades are contingent upon the approval of governance referenda.
Key Features of the Upgrade
The Fort Canning upgrade introduces several new features:
- NFT Loans: Owners can set up NFT loans that automatically return to the lender after a fixed term. Borrowers can use the token during the loan but cannot transfer or list it elsewhere.
- Token Expiration: Tokens will now have expiration dates based on a predefined schedule.
- Mint Limits: Collection owners can establish mint limits that are open for public verification.
- Immutable Attributes: Once set, certain token attributes will become permanent.
- Governance Changes: ENJ holders will now govern the Matrixchain, with a proposal deposit increased from 0.025 ENJ to 1,000 ENJ per track.
Technical Specifications
The Relaychain is moving to runtime 1.8.0 at block #18,059,100, while the Matrixchain will upgrade to runtime 1.4.1 with block #12,331,000 as a target. Both transitions are expected to occur around 16:00 UTC. These timings are estimates based on current block times.
Marketplace and Governance Enhancements
The upgrade will also incorporate changes to the marketplace, including support for sENJ and the Degens collection. Additionally, it will implement the OpenGov framework on the Matrixchain, which includes 15 referendum tracks and a conviction voting system where longer locked ENJ increases voting power.
These advancements are designed to increase transparency and governance efficiency within the Enjin ecosystem, marking a significant evolution in its blockchain capabilities.