Abstract

This proposal aims to implement a monetary contraction policy for $ethpi, adjust its supply cap, and introduce a Distributed Exponential Incentive Plan to ensure long-term stability and utility of $ethpi. The proposal consists of three main parts: supply cap adjustment, a distributed exponential incentive plan, and a deflationary policy.

1. Supply Cap Adjustment

• Objective: To halt mining activities of $ethpi once its circulating supply (excluding tokens burnt in the zero address) reaches 300 million.
• Rationale: This measure is intended to control the total supply of $ethpi, enhancing its scarcity and value.

2. Distributed Exponential Incentive Plan

• Plan Details: Post-mining cessation, an additional 30 million $ethpi will be reserved as rewards in the Distributed Exponential Incentive Plan.
• Reward Acquisition: Rewards will be earned by building trusted nodes and will be released linearly.
• Purpose: To incentivize community participation in maintaining network health and security.

3. Deflationary Policy

• Milestone: Recognition of $ethpi as a crucial milestone in inscription, backed by widespread community support.
• Measures: May include fee discounts, fee buybacks, airdrop snapshots, and LaunchPad subscriptions, among others.
• Objective: To increase the liquidity and attractiveness of $ethpi, enhancing its market position.

Voting Process

• Voting Tool: The vote will be conducted using the fair governance tool, Snapshot.
• Snapshot of Voting Rights: A snapshot of all $ethi holders’ voting rights (including stakers) will be taken at 0:00 UTC on February 7.
• Voting Duration: Voting will end 7 days after the proposal launch.
• Voting Criterion: The proposal will be considered successful if the ratio of 'For' versus 'Against' votes exceeds 2/3.