[NIP-008] - Snapshot 1 and Proposal to Adjust Tokenomics

Now that the new NFTearth OFT token has been deployed across 5 chains (Arbitrum, Optimism, Polygon, BNB Chain, Avalanche) using the LayerZero OFT standard, the time has come for completing the migration in the most fair and reasonable way; while still allowing the team to continue to focus on building. Numerous internal discussions have taken place, community discussion has occurred at length, and the team has sought guidance from external parties on best practices for completing the token migration.

The conclusion reached is that this should be an iterative process; not a single instance, and one that flows with the bright Omnichain future ahead for the DAO. This vote captures the first snapshot - of potentially several - as the team works to simultaneously manage migrating all users to the new token while also fully capitalizing on the momentum of being Omnichain and leading the way in the web3 ecosystem as a small DAO. The reliance on 3rd parties such as Multichain for moving cross-chain is now removed and ONFTE can serve as an Omnichain interoperable unit of value and governance power for all holders. The prior discussed plans for the voting escrow model have not changed; the only difference being the final implementation will be veONFTE.

We propose to the community an adjustment of the current tokenomics - to be carefully put into place with the new token implementation (ticker: ONFTE) as to retain the value for stakeholders that the current and future potential of the NFTEarth protocol has. If approved the team will work internally, with the community, and external advisors to determine what the best tokenomic structure would be for NFTEarth as this new chapter is now set to begin.

Please signal your support for or against adjusting the tokenomics of the NFTEarth protocol as its native token transitions into an Omnichain token.