[NIP-015] Terminate NIP-011 Snapshot 2 for NFTE (Old) Token

We propose to the xNFTE holders and NFTEarth community to terminate the Snapshot Vote 011 as it is unnecessary and especially damaging - in light of recent news - to the long-term sustainability of NFTEarth for 3 reasons outlined here.

Summary.

This is a small protocol, a micro-cap protocol - that is building on the bleeding edge of new technology, and one in dire need of liquidity and funding. Airdropping >10% of the token supply to users who were not even active enough to take part will cause irreparable damage to NFTEarth and these users that did not participate in the first vote means they are likely not involved in helping the long-term stakeholders of NFTEarth like anyone who has an xNFTE position and is aligned with what the team is building, and they will most likely just dump their tokens.

Background

NFTEarth has been more than generous already in terms of airdrops to token holders. This is the primary reason we believe the token was actually unable to maintain its initial value ($10M) MC - due to being unable to withstand the liquidity forces in play during an airdrop campaign. Had there been more liquidity, NFTE would likely still be sitting at a MC of anywhere from $5-$20M considering all that has been built over the past 6 months.

Specifications

There are already clear attempts by users who claimed the first airdrop to get duplicate user airdrops from the first vote. Who is going to spend the time and resources going through all this data with a fine comb to determine who is lying and who is not about their airdrop eligibility? Simply put, this was token migration event was a thoroughly discussed matter by the community and DAO at the time, with extremely strong rationale for migrating the token (read: Multichain), and users who didn’t migrate - well they had a full week to do so. As a long-term staker now of this protocol, and someone who would like to see NFTEarth continue to build and strive to grow, we would like to begin the building phase again, and we don’t see this happening until the unresolved vote that involves >10% of the protocol tokens, is completely resolved. We believe it in the best interest of all involved to terminate the pending vote and move forward with no other changes at this time.