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Open Custody Protocol (x Qredo)Open Custody Protocol (x Qredo)by0xCeA366dAE21DB9C60A2125be46dd062a98194d54opencustody.eth

OIP-3 OCP Token Experiment Proposal

Voting ended over 1 year agoSucceeded

OIP-3 Proposes a substitution of burning OPEN tokens during test phase for the following:

  • Using the OPEN tokens targeted for burning, to purchase OCP from the open market (e.g. Uniswap).

  • Burning the purchased OCP tokens.

Potential benefits:

  • Avoid direct value destruction of OPEN tokens. Burning OPEN doesn’t seem to have a long term correlation with value creation.

  • Create value and alignment for OCP holders, who are the vanguard and most active community members.

  • Test a new utility for the token during our OCP testnet phase.

Voting period from Tuesday 15th October 17:00 UTC to Thursday 17th October 17:00 UTC

Off-Chain Vote

Approve
29.29M OPEN84.9%
Reject
5.2M OPEN15.1%
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Discussion

Open Custody Protocol (x Qredo)OIP-3 OCP Token Experiment Proposal

Timeline

Oct 15, 2024Proposal created
Oct 15, 2024Proposal vote started
Oct 17, 2024Proposal vote ended
Oct 25, 2024Proposal updated