MCP-2023/5 - iTax Refund Elimination Proposal

Dear MONSTA Community,

Your active participation and commitment to the Monsta ecosystem are greatly appreciated. Today, we present an important proposal aimed at ensuring the long-term sustainability and efficiency of our protocol.

Background

The iTax refund option has been a valuable feature in our ecosystem. It was introduced as a trial measure following the community's approval of proposal CMP-2022/3. This measure was intended to offer users additional flexibility after changes were made to the original ACO process. The iTax refund was distributed in bMONSTA tokens and funded from the Community Wallet. This specific mechanism poses sustainability challenges and demands administrative resources that make its continuation unviable in the long run.

The Suggested Change

In collaboration with DCE holders, we propose the removal of the iTax refund option. This change will result in a net iTax of 30% every 50 days. This adjustment aligns with the net amount users would receive if they were subject to iTax and subsequently claimed a refund.

Rationale

The primary objective of this proposed change is to foster sustainability and streamline our Monsta protocol. By eliminating the iTax refund option, we can reduce administrative overhead, simplify the process, and ensure the long-term viability of our ecosystem.

Implementation Timeline

Upon the successful passage of this proposal, we commit to implementing the necessary changes within a maximum of 14 days.

Community Discussion

This proposal is now open for community discussion and voting, reflecting our commitment to an inclusive and transparent decision-making process. We invite all MONSTA token holders to engage in conversations, share their insights, express any concerns, and contribute their thoughts regarding this proposed change.

Voting Period

The voting period will last for 72 hours, providing ample time for all members to consider the proposal and actively participate in discussions. Your input is invaluable, and we encourage every MONSTA token holder to make their voice heard.

How to Vote

1. Connect your wallet here to the snapshot platform.
2. Select one of the following options: "For," "Against," or "Abstain."
3. Complete the transaction to register your vote.

Your involvement in this decision will shape the future of our Monsta ecosystem. Thank you for your continued support and dedication to a more sustainable and prosperous future for MONSTA!