Implementation of DAO voting proposal #13: Step 2 start
Who is eligible: pBTC-on-BSC holders
How to participate: pBTC-on-BSC holders willing to participate in the claims for Step 2 need to enroll in the compensation plan and claim Step 2 compensation.
Enrollment
The enrollment page is available starting today (November 22nd, 2021).
How to enroll: A dedicated enrollment web-page is available here
The enrollment web-page requires you to send a transaction to cryptographically sign the declaration. Please note this is not the claim of Step 2, but rather just a signing transaction.
Once you have enrolled in the compensation plan, you are ready to participate in the Step 2 claims.
Please note that if you fail to enroll you will not be eligible to proceed claiming the compensation of the above-mentioned step. The enrollment platform will be open for 10 months.
One-off enrollment: You are required to enroll only the first time you claim. If you have already enrolled as part of the NFT Pre-sale, there is no need for you to enroll again. If you haven’t enrolled yet, this enrollment will be valid for Claim 2.1 as well as future claims.
Step 2 compensation
The compensation amount of Step 2 is distributed over 10 non-consecutive months (it may be completed at an earlier date if the pNetwork DAO deems the market conditions appropriate for bigger repayments or it may be completed at a later date if the PNT downtrend protection mechanism kicks in) and it is claimable in multiple tranches.
What is Claim 2.1: The first distribution of Step 2 is referred to as Step 2, Claim 1 (in short, “Claim 2.1”).
What is Snapshot 2.1: A snapshot of the addresses holding pBTC-on-BSC will be taken before each Step 2 distribution. The snapshot for the first distribution is referred to as Step 2, Snapshot 1 (in short, “Snapshot 2.1”).
Who is eligible for Claim 2.1: pBTC-on-BSC holders that are part of Snapshot 2.1 and that have enrolled. Each address is eligible with an amount proportional to the address’s pBTC-on-BSC holdings at the time of Snapshot 2.1
Snapshot 2.1
Snapshot 2.1 will be taken Tuesday November 23rd, 2021 at 5pm UTC.
How to participate in Snapshot 2.1: To be part of Snapshot 2.1 your address must hold pBTC-on-BSC when the snapshot is taken.
Each address is eligible for Claim 2.1 based on their pBTC-on-BSC holdings at Snapshot 2.1. If an address doesn’t hold pBTC-on-BSC at Snapshot 2.1 that is not eligible for Claim 2.1.
For example, if an address holds 3 pBTCEPS at Snapshot 2.1 and 0 pBTC-on-BSC, the address is eligible for 0 pBTC-on-BSC.
Important note for Ellipsis LP: If you hold pBTC-on-BSC tokens within the Ellipsis pool, please remove them from the Ellipsis pool for the time of the Snapshot 2.1. If you hold pBTCEPS (as in, pBTC-on-BSC tokens within the Ellipsis pool), these will not be considered in the snapshot.
Claim 2.1
Who is eligible for Claim 2.1: pBTC-on-BSC holders that are part of Snapshot 2.1 and that have enrolled. Each address is eligible with an amount proportional to the address’s pBTC-on-BSC holdings at the time of Snapshot 2.1
How to claim for Claim 2.1: If you have enrolled in the compensation plan and you were in Snapshot 2.1, it means you are now ready to participate in Step 2 and claim your first tranche. A “Snapshot 2.1 participants list” will be published on Wednesday November 24th, 2021 with the list of addresses and pBTC-on-BSC amount eligible for Claim 2.1.
At this stage, you are required to claim your Claim 2.1 by sending your elibigle amount of pBTC-on-BSC tokens to a dedicated address. When sending the pBTC-on-BSC, you will receive the corresponding amount of PNT on your address.
Should any PNT tokens be left unclaimed, these will be sent to the pNetwork DAO Treasury.
You will be able to claim your tokens for Claim 2.1 starting Wednesday November 24th, 2021 at 5pm UTC.
Actions recap. pBTC-on-BSC holders need to:
- enroll in the compensation plan (one-off, valid for future claims as well). This involves sending a transaction - this is just for signing and it is not the transaction through which you send pBTC-on-BSC.
- hold pBTC-on-BSC at 5pm UTC on Tuesday November 23rd, 2021 to be part of the Snapshot 2.1
- send a transaction to a dedicated address with the amount of pBTC-on-BSC eligible for Claim 2.1 (the relevant address will be shared along with the Snapshot 2.1 participants list).