What is perhaps NFT Protocol’s most significant governance proposal to date (regarding a DEX launch “liquidity mining” incentive program) was launched yesterday evening and published on our governance forum and WE NEED ALL $NFT TOKEN HOLDERS TO VOTE!
When we launched our governance forum in late May we chose Uniswap’s governance model as our governance model template. This is a three-tiered model involving a temperature check, consensus check, and governance proposal stage. The temperature check is intended to evaluate general sentiment towards a general idea. The consensus check is an opportunity to refine the idea and then check for consensus. The final governance proposal stage is a culmination of the previous stages in which the proposed idea is clearly defined and substantiated such that it can be ratified if the proposal passes with a successful YES vote. Each stage has a quorum requirement in order for the vote to be considered valid.
The quorum for the governance proposal stage is 5% of all $NFT tokens - i.e., ~4.444 million $NFT tokens.
This is a large quorum requirement so if you hold our $NFT token PLEASE VOTE before the proposal ends at 6:45PM CDT on July 21, 2021.
The proposal’s text can be found below for your convenience.
Should a portion of the $NFT token governance pool (size to be determined by the NFT Protocol core team) be allocated towards a "liquidity mining" initiative to coincide with the NFT.org DEX launch?
$NFT token governance pool:
The intention behind this initiative is to incentivize use of the NFT.org DEX when it launches, increase the distribution of the $NFT token and grow the NFT Protocol community. Tokens allocated towards this initiative would be claimable by ETH and Polygon addresses which provide liquidity (tentatively defined as "filled swap orders" though the NFT Protocol core team reserves the right to redefine what constitutes liquidity after analyzing swap activity after the DEX launches) to the NFT.org DEX within an unspecified (to be determined by the NFT Protocol core team) period of time after it launches.
The NFT Protocol core team will monitor data regarding NFT.org DEX swap activity after the DEX launches in order to determine a cutoff time and date for the initiative and then select an appropriate allocation size according to the data. If the NFT Protocol core team feels that an allocation larger than was discussed in the temperature and consensus checks leading up to this proposal is warranted, a subsequent proposal will be presented to NFT Protocol governance in order to approve the larger amount.