SHEIKHS GOVERNANCE PROPOSAL #1

SHEIKHS GOVERNANCE PROPOSAL #1

🧾 Snapshot Proposal: Strengthening $OIL Liquidity with a $WS LP

Overview: In light of recent liquidity challenges impacting the $OIL market and the broader Petroleum game economy, we propose a strategic pivot: redirecting a portion of Sheikhs NFT profits to build and support a sustainable $OIL/$WS liquidity pool. This LP will become a key liquidity hub for $OIL within the ecosystem, reinforcing utility, price stability, and long-term growth.

💸 Current NFTnomics: Until now, in-game profits have been planned as follows: 47.5% allocated for expansion (buying plots and building pumps) 47.5% staked in PetroBank to generate yield (fully distributed to Sheikhs holders bi-monthly) 5% for the Sheikhs team

This model was promising under healthy market conditions. But with on-chain liquidity drying up, especially for $OIL, it's time to adapt.

🔄 Proposed Changes: We propose updating the NFTnomics to: 30% for expansion (plots and pumps) 65% staked in PetroBank to generate $WS 5% for the Sheikhs team

Rather than distributing the $WS to holders directly, staking rewards will be used to build and deepen a new $OIL/$WS liquidity pool.

🧪 Why Pair with $WS? $WS is the wrapped version of $S (Sonic's native asset), with deep on-chain liquidity Fully aligned with the Sonic ecosystem and its DeFi protocols Offers greater composability, deeper integration, and long-term scalability Avoids stablecoin dependencies while still providing a strong base pair for $OIL We're also exploring incentive opportunities for the $OIL/$WS pair with DeFi partners to boost LP growth and visibility.

💰 Revenue Strategy: Revenue generated from the $OIL/$WS LP (trading fees, incentives) will not be immediately distributed. Instead, it will be held in a treasury wallet until a second Snapshot vote decides the next step: Option A: Distribute rewards to Sheikhs holders Option B: Compound rewards back into the LP to accelerate liquidity growth This ensures community-driven decision-making every step of the way.

🔭 Looking Ahead: Once the $OIL/$WS liquidity pool reaches a healthy baseline, we will revisit the idea of pairing $OIL with a stable asset to further diversify liquidity options and strengthen the ecosystem.

This two-phase approach gives us speed and flexibility: → $WS for fast, native expansion → Stables for added resilience later on

🗳️ Voting Specifics:

One wallet = one vote. We want this vote to reflect the broadest possible sentiment in the community - not just the biggest bag holders. If you hold a Sheikh NFT in your wallet, you can cast one vote.

Voting window: 72 hours from the moment the vote is published.

Simple majority rules: The proposal will be accepted if more than 50% of the total votes cast are in favor ("Yes")

All Sheikhs holders are encouraged to participate to shape the project's direction and ensure legitimacy of governance decisions

✅ Conclusion: Building a deep, native $OIL/$WS liquidity pool is a crucial move to secure Petroleum's long-term viability and to elevate the value of Sheikhs NFTs as key ecosystem assets. This proposal shifts our focus from short-term yield to long-term liquidity infrastructure that benefits all players and holders. Let's take control of our liquidity, stabilize the market, and unlock the next era of Petroleum gameplay and utility.

🧞‍♂️ Time to let the Sheikhs fuel the future.