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MIP-7: Airdrop Phase 3 Adjustment (Burn)

Voting ended over 1 year agoSucceeded

To prioritize the long-term benefit of our community and enhance $MP value recovery, we propose burning the 2% $esMP initially planned for the Phase 3 Airdrop. Instead of distributing these tokens, we believe removing them from circulation will help protect the integrity of the token’s value over time. Since $esMP can be vested 1:1 into $MP with a 30-day linear unlocking period, reducing the future supply means less dilution for existing holders, allowing for a more stable and rewarding environment for those who continue to hold $MP.

This strategy aligns with our continued efforts to prioritize $MP value recovery, aiming to create a healthier token economy and ensure that our community members benefit from a more robust and resilient $MP.

Off-Chain Vote

Agree to Burn
9.7M esMP97.2%
No, stick to the original plan
275.89K esMP2.8%
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Timeline

Oct 14, 2024Proposal created
Oct 14, 2024Proposal vote started
Oct 17, 2024Proposal vote ended
Oct 17, 2024Proposal updated