Proposal: Should the DAO migrate its rewards distribution to BSC and encourage a timely rewards claiming process?
Summary: This proposal aims to improve the DAO rewards’ distribution process by moving the
PNT distribution from Ethereum to the BSC network and by introducing a method for unclaimed rewards to be donated to the pNetwork DAO treasury should they remain unclaimed for more than 6 months. If approved, this would apply to all DAO rewards that are unlocked starting from February 21st, 2022.
Motivation: Moving the DAO rewards distribution to BSC would allow voters to claim their rewards cheaper and faster without losing opportunities to vote, become node operators or interact with DeFi protocols.
The expiration date for unclaimed rewards would improve the ecosystem and encourage users to be more responsible and actively involved with the project.
Specification: The DAO rewards program incentivizes its members to actively participate in discussions and decisions to better drive the future of pNetwork. Currently, PNT rewards for DAO voters are distributed on Ethereum. This proposal is to migrate the reward claiming process to the BSC Network to enhance the user experience further by enabling a cheaper and faster distribution/claim process.
Given that unclaimed rewards could be better used to further improve the ecosystem, this proposal includes the implementation of a 6-months expiration date for the rewards unlocking starting February 21st, 2022, after which the unclaimed rewards will be donated to the pNetwork DAO treasury. Hopefully, this will push users to be responsible and more engaged with the project.
**(Note that rewards that unlocked before February 21st, 2022 would still have to be claimed via the Ethereum Network and would not be affected by the 6 months expiration).
To recap, if approved the proposal would apply the following changes:
- the PNT distribution of DAO rewards would be moved from Ethereum to the BSC network
- Eligible users would be able to claim their rewards, once unlocked, via Astrodrop on the BSC network, which will be faster and cheaper.
- Once DAO rewards unlock, eligible users would have six months to claim their PNT via Astrodrop, after which the unclaimed PNT would be transferred to the pNetwork DAO treasury to be used for growing the ecosystem.
While the rewards gaining mechanism remains unchanged, this new distribution method would bring benefits on several sides:
- The rewards claim for DAO members would be cheaper and faster.
- Users would be able to directly and easily become node operators by staking PNT on BSC.
- Users would be able to directly vote on DAO proposals via Snapshot BSC.
- Users would be able to directly and easily move PNT to Binance and BSC-supported dApps for trading, staking, and other purposes.
- Users would be able to use the new Eidoo app (v2) to claim their PNT rewards on BSC.
- Users would be able to easily swap the PNT-on-BSC to PNT-on-Ethereum via the pNetwork bridge (the pegout fee applies).
Vote on Ethereum: Aragon
Vote on BSC: Snapshot
… and a few days to decide and discuss this proposal …I believe it is necessary to establish a good system of warning to users for the withdrawal of rewards