Introduction
Dear Community,
As part of our ongoing efforts to enhance the value and utility of our network, we propose a strategic initiative aimed at accelerating our growth, increasing user engagement, and enhancing the overall ecosystem. We seek your feedback and insights on the proposal to release 15 million MTRG tokens, currently reserved for future projects, into circulation. Our goal is to deploy these tokens in a manner that will invigorate our community, attract new users and developers, and bolster network adoption.
Key focus areas of Ecosystem Growth
We define 3 key focus areas of growth that warrant the utilization of released MTRG;
- User Growth (Onchain and Offchain)
- Activity Growth (Onchain and Offchain)
- Trading Volume Growth
NOTE: The MTRG released through this proposal will only be utilized for programs which align with these focus areas.
Proposal Overview
The reserved 15M MTRG tokens represent a significant resource that, if utilized wisely, can catalyze substantial growth and development within our ecosystem. The proposed allocation of these tokens is as follows in alignment with the key drivers:
- Airdrops and User Incentives
A portion of the tokens will be allocated for airdrops to existing and new users. This will not only reward our loyal community members but also attract new users to the platform. Additional incentives may include gas rebates and other user engagement mechanisms.
- Incentives for DApp Developers
By offering performance based incentives that cater to native token liquidity buildup, marketing incentives and developer incentives, we aim to incentivize developers to build decentralized applications on our network and ensure success. This initiative will not only expand our DApp ecosystem but also foster innovation and usage on our platform.
- Marketing and Promotional Activities
Effective marketing strategies are essential for growth and adoption. Tokens will be set aside for promotional activities, partnerships, and other marketing initiatives to increase MTRG demand and visibility in the market.
- Centralized Exchange Listings
Listing on a centralized exchange remains a highly effective strategy for boosting user growth and trading volume, thanks to their extensive user base. We suggest allocating a portion of our budget for listings on centralized exchanges.
- Community and User Base Expansion
Allocating tokens for community-building activities and expanding our user base is crucial. This can include community competitions, hackathons, and collaboration with influencers and educators to reach a wider audience. An expansion of community also includes network contributors, educators, event organizers and alike.
- Repayment of PASS Token Liabilities
We propose to use MTRG tokens to address a portion of outstanding liabilities related to PASS tokens.
Objectives
The key objectives behind the release of the reserved tokens are as follows:
- Increase MTRG demand and market presence
- Stimulate network activity and user engagement
- Attract and support developers to enhance our DApp ecosystem
- Expand our community and user base
Specific Release Schedule
We propose to initiate different governance proposals to individually release MTRG to each proposed allocations as we chalk out a more detailed plan to address each of the categories.
NOTE: The MTRG from the reserve will come into circulation only once respective governance proposals are ratified.
Community Feedback
We believe in the power of our community and the importance of decentralized decision-making. Therefore, we invite all community members to provide their feedback, suggestions, and concerns regarding this proposal. Your input is invaluable in shaping the future direction of our network and ensuring that we make decisions that reflect the collective interest of our ecosystem.
Specifically, we would love feedback on the best utilization of MTRG and suitable references where possible from across the blockchain ecosystem.
Next Steps
Based on the community feedback received on expanding or contracting the categories, we will refine the proposal to include/exclude specific categories to consider for the incentive scheme. A detailed plan for the allocation and distribution of the 15M MTRG tokens will be released separately through governance as we chalk out a detailed plan for these categories.
For the current focus on-hand, a formal governance vote to give a go-ahead on the release of 15 Million MTRG tokens will then be scheduled, where token holders will have the opportunity to vote on the proposal.
We look forward to your constructive feedback and to working together towards a prosperous future for our network.
Governance and Voting Process
Forum Discussion
Period of 7 days starting 6 March 2024 00:00 UTC until 12 March 2024 00:00 UTC.
Governance Proposal Voting
Period of 2 days starting 12 March 2024 00:00 UTC to 14 March 2024 00:00 UTC.
Users can vote with MTRG, staked MTRG, stMTRG and wstMTRG. The proposal will pass when it achieves a majority vote. There is no quorum requirement.