Summary

This proposal outlines the repurposing of the allocated 250,000 $METRO airdrop for METRONIX NFT holders into a METRONIX Treasury. The treasury will stake $METRO to earn $USDC, which will be distributed to METRONIX holders over time, establishing a sustainable tokenomic model for the METRONIX collection. The treasury will also earn royalties and participate in voting for emissions to earn bribes, which will be used to continuously increase the $METRO staked in the treasury. This proposal will make the METRONIX collection the only tradable staked $METRO positions in the ecosystem. Furthermore, the $METRO backing per NFT increases continuously.

Context

Initially, 250K $METRO was earmarked for a direct airdrop to METRONIX holders. However, following community discussions initiated by METRONIX holders, there is overwhelming support for reallocating this amount into a treasury that will stake $METRO with 3x multiplier to earn staking rewards in $USDC, which will then be distributed to METRONIX holders. This long-term approach aligns the incentives of METRONIX holders and the $METRO ecosystem while establishing sustainable value accrual. Additionally, the METRONIX Treasury will earn royalties and will participate in weekly voting for emissions to earn bribes. The revenue from royalties and bribes will be converted to $METRO and added to the treasury to progressively increase the staked $METRO position per METRONIX NFT, thereby boosting future staking rewards in $USDC for its holders.

Key Changes & Implementation

1. Formation of METRONIX Treasury

• The 250K $METRO originally allocated for the airdrop will be deposited into a newly established METRONIX Treasury.
• The treasury will be organized as a multisig with 4 representatives. Two representatives from the Metropolis team and two representatives from the METRONIX community.
• The treasury will stake $METRO with a 3x lock in the staking pool.
• The $USDC staking rewards will be forwarded to METRONIX holders periodically, ensuring continuous value accrual.
• $USDC payouts will ultimately be distributed via a dedicated staking pool.Until the staking pool is implemented the distribution will be facilitated via periodical airdrops.

2. Bribes Revenue Allocation

• Bribe revenue will be converted into $METRO, deposited into the METRONIX Treasury and staked with a 3x multiplier.
• The Treasury will vote for the top 10 positions by bribes, weighted by bribe amount.
• This will allow for a progressive increase in the Treasury’s $METRO balance, ensuring larger staking rewards and a growing payout stream over time. It also increases the staked $METRO backing per METRONIX over time.

3. METRONIX royalties

• Furthermore, all royalties earned by the METRONIX Treasury from trading METRONIX on NFT marketplaces like Paintswap will be converted into $METRO and staked with a 3x multiplier. This further accelerates the growth of the METRONIX Treasury and the $METRO backing per NFT.

#FAQ

Will METRONIX holders still receive $METRO? Not directly. Rather than issuing a one-time airdrop, the allocated $METRO is staked within a treasury, backing each METRONIX NFT with a share of the staked position. As a result, METRONIX holders receive all $USDC revenue generated by the staked $METRO, providing an ongoing source of benefits. Over time, additional bribes and royalties will increase the treasury’s $METRO balance, further boosting the backing per METRONIX NFT.

How will staking rewards be distributed? Rewards generated from staking will be periodically distributed to METRONIX holders in proportion to their holdings via airdrops, until a dedicated METRONIX staking pool is live in the mid-term future.

What happens to the Bribes revenue? Bribe revenue will be converted to $METRO and added to the METRONIX Treasury, increasing the treasury’s balance over time and boosting staked $METRO per NFT and future $USDC payouts.

Will there be future governance votes for treasury management? Yes. The METRONIX Treasury will be governed by DAO decisions, with the ability to facilitate votes on treasury management strategies and revenue allocations. The METRONIX Treasury will be operated by four representatives.

Voting Mechanism This proposal requires an on-chain DAO vote. The available choices are:

YES – Approve the formation of the METRONIX Treasury, repurpose the 250K $METRO airdrop, implement the vested airdrop option, and formalize the Bribes revenue conversion into $METRO for treasury growth. NO – Keep the original 250K $METRO airdrop distribution.

Final Notes

This proposal seeks to enhance the long-term value proposition of METRONIX. The decision now rests with the METRONIX community to finalize the direction for this initiative.