MANTRA Core Proposal - Grant for Affected ZENTEREST Participants

After receiving feedback from our Sherpa community, the MANTRA DAO Foundation, as the leader and steward in this community, has agreed to support users who are currently holding ZENTEREST zenTokens, by offering an opportunity to exit their positions following the pausing of the ZENTEREST markets.

Grants Recipient Summary:

If you believe that you were one of the Sherpas that were affected by the pausing of ZENTEREST, and have not yet contacted our team, please send a direct message to our Community Lead, Dustin McDaniel at:

Discord: Guitarplayer#8980 or Telegram: @Guitarplyr

Beware of impersonators pretending to be the MANTRA team, as our MANTRA team members will NOT direct message you first.

Proposal Summary:

The MANTRA Foundation has agreed in favor to ratify the ZENTEREST Community Proposal, which includes a Grant of OM tokens from the MANTRA DAO Grants Wallet to Sherpas affected by the pausing of ZENTEREST markets.

The purpose is to allocate OM tokens to support the ZENTEREST Community Proposal, which will include a three step process in where:

1. A mathematical and unbiased process is applied to determine the wallets eligible for the Grant, as well as the US dollar amount they qualify for.

2. Qualified participants confirm their participation by transferring outstanding zenAssets to a designated burn address.

3. Qualified participants then will be able to claim the $OM airdrop on a rolling basis following step 2.

Amount of Funds Requested:

10,000,000 OM tokens

Funds Allocation Breakdown:

10,000,000 OM tokens will be sent from the MANTRA Grants wallet to several claiming smart contract with linear vesting on the Polygon blockchain hosted on app.mantradao.com

Milestones:

A total of 6 tranches of tokens will be sent to follow 6 snapshots follow 6 consecutive months with the first snapshot taken on November 29th, 2022 2:00 AM UTC Vesting will commence immediately upon pool launch and tokens will be released linearly over a period of 9 months following the pool’s launch.

Proposed Phases: If passed, we agree to review the above proposal at regular intervals to make additional adjustments as needed.

Comments:

The MANTRA DAO Foundation, as the leader and steward in this community, feel for the trouble that some of our most fervent Sherpa supporters have experienced with respect to ZENTEREST. With this in mind, the MANTRA DAO Foundation has come up with the ZENTEREST Grants program in order to help alleviate the pain that some of our community members have experienced.

We will run this proposal for 5 days (120 hours) commencing at 9 AM UTC on November 25th 2022, and will have the proposal take effect immediately at 9 AM UTC on November 29th, 2022 should the proposal pass.

~The MANTRA DAO Foundation