MCP-2023/7 - Allocation of Abandoned Staking Assets

Dear $MONSTA Community,

We are gathered here today to address an important matter regarding the allocation of tokens following the conclusion of the sunset period, as previously defined in the community proposal "MFP-2023/4 - Finalization of Staking/Baking Program." As the sunset period has officially ended, it is crucial for us to determine the appropriate allocation of the remaining tokens.

Background

The community proposal "MFP-2023/4" set a sunset period for final unstaking claims, and we have now reached this milestone. With the conclusion of this period, we must decide on the best course of action for the tokens that were abandoned in the staking contract during this time.

Proposed Allocation

After careful consideration and community input, we propose the following allocation:

• 50% Burn: We suggest that 50% of the remaining tokens, which amounts to 208.08 million $MONSTA tokens, be burned. This burning event will be held as a year-end community celebration, marking a significant milestone in the $MONSTA project.

• 50% Reserved for Protocol Enhancements: The remaining 50% of the tokens, totaling 208.08 million $MONSTA tokens, will be reserved for use in protocol-enhancing initiatives. These initiatives may include the introduction of Bonds, Farms, Pools, LP Incentives, and other enhancements that will further strengthen our protocol (TBD).

Purpose of the Allocation

Token Burning

The token burning event serves multiple purposes:

1. Scarce Asset Creation: By burning a significant portion of tokens, we create scarcity in the $MONSTA ecosystem. This scarcity can drive up the value of the remaining tokens, benefiting all token holders.

2. Community Celebration: The year-end community celebration event not only marks a milestone but also fosters a sense of unity and engagement among our community members.

Protocol Enhancement

Allocating tokens for protocol enhancements allows us to:

1. Strengthen the Ecosystem: These reserved tokens will be strategically used to implement initiatives that enhance the functionality, security, and attractiveness of the $MONSTA protocol.

2. Long-Term Sustainability: Protocol-enhancing initiatives are essential for the long-term sustainability and competitiveness of $MONSTA in the ever-evolving cryptocurrency landscape.

Voting

Voting for this proposal will remain open for a period of 72 hours, and it is open to all $MONSTA token holders. We encourage active participation from our community to ensure that the allocation decision aligns with the collective interests and vision of $MONSTA.

Conclusion

The conclusion of the sunset period is a significant moment for $MONSTA, and we appreciate the active engagement and participation of our community members in shaping the project's future. We believe that the proposed allocation, combining token burning with investments in protocol enhancements, strikes the right balance between creating value for our current token holders and ensuring the long-term success of $MONSTA.

Let's continue to work together to make $MONSTA a thriving and sustainable ecosystem!