PIP-20: Increase Advanced Staking Rewards Pool

Summary:

This proposal suggests increasing the "Advanced Staking" program rewards pool by an additional 2M $ZKP while maintaining the rest of the program's parameters unchanged.

Background:

The initial “Advanced Staking” program was launched via PIP-9, PIP-10, and prolonged via PIP-13, PIP-18, and PIP-19. All $ZKP tokens originally allocated as staking rewards according to proposal PIP-9 have been used and distributed. The program is valid till 2024, March 10, and following the discussion, the community proposes to increase the staking rewards pool by adding additional funds to the pool.

2M $ZKP are expected to be allocated out of the total 450M $ZKP allocated for protocol rewards, to be used for staking rewards (i.e. send to the VestingPools smart contract a blockchain transaction that registers the allocation).

This proposal authorizes and triggers the execution (via Panther’s space on Snapshot.org and the Reality.eth oracle) of the attached blockchain transactions listed below under Annex.

Community Rewards/Compensation:

Users who execute blockchain transactions listed in the Annex shall be given the rewards as compensation for the gas costs incurred by these users on the Ethereum Mainnet.

To clarify, this only applies to the Reality.eth transactions directly associated with this DAO proposal, which are described in the Annex and listed on the corresponding page on Snapshot.org. This does not promise any compensation for normal staking/unstaking transactions, or other interactions with the smart contracts.

Proposed Actions:

1. Approve the origin and quantity of funds mentioned in the Background section for addition to the Advanced Staking rewards pool.
2. Authorize and execute on the Ethereum Mainnet configuration transactions described in the Annex, to achieve the extended rewards pool for the Advanced Staking program,
3. Send the deployment rewards according to the points 1, 2 and 3 of the ''Community Deployment Rewards'' section of PIP-19, namely:
   1. The distribution of 2000 $ZKP towards the following address for deploying the updated front-end (v0.5.5) onto IPFS: 0xE1B583De9cB37196031b771686734a31ec365768
   2. The distribution of 6000 $ZKP to the following address who executed the blockchain transactions to deploy and configure the smart contracts on the Ethereum Mainnet and Polygon network:0xE1B583De9cB37196031b771686734a31ec365768
   3. The distribution of $151 USD in $ZKP tokens - which is $ZKP 5060 at the rate $ZKP=0.02727 USD - as a gas fee compensation for the community member who executed point 3 of the Proposed Actions section, PIP-19: 0xE1B583De9cB37196031b771686734a31ec365768

Participation:

Please vote to accept or reject the proposed actions detailed above.

As per the existing DAO governance structure, as the staking smart contracts are not currently issuing any rewards, you need to hold $ZKP, staked or not, on the Ethereum Mainnet or Polygon to participate in voting.

Voting power is calculated by Snapshot.org taking a snapshot of the number of ZKP tokens per holder at the block within which the proposal was created.

Full proposal details:

The full details of this proposal are visible in a more human-readable form at:

https://docs.pantherprotocol.io/docs/dao-proposals/proposal-20-increase-advanced-staking-rewards-pool

And also in raw Markdown format at: https://gateway.pinata.cloud/ipfs/QmNZnYB9pFDEEuRpgJur7gUERNHVhV6ATnNH8PNUxUk5Bt

Annex:

This proposal triggers the execution of the following blockchain transactions. These transactions are already encoded during the submission of the proposal to Snapshot.org, and can be independently verified via the snapshot.org web interface.

The complete list of transactions can be found under the following URL:

https://docs.pantherprotocol.io/docs/dao-proposals/proposal-20-increase-advanced-staking-rewards-pool/technical-details

Batch 1 transaction 1:

Add and configure the 2m $ZKP Vesting Pool with startTime at Feb 29 for Advanced stake reward. (StartTime should be in the future when creating a vesting pool). The pool id will be 19.

Batch 1 transaction 2:

Changing the start time of vesting pool #19 to Dec 31 in order to be able to release token at the time of execution of proposal.

Batch 1 transaction 3:

Mint 2M $ZKP from the vesting pool #19 to DaoMultisig as rewards for advanced stakes

Batch 1 transaction 4:

Approve PolygonBridge to transfer 2M tokens from DaoMultisig

Batch 1 transaction 5:

Execute PolygonBridge to Bridge tokens to AdvancedStakeRewardController

Batch 1 transaction 6:

Mint 13,060 $ZKP from the vesting pool #18 and send them to deployer as reward

Batch 2 transaction 1:

Allow AdvancedStakeRewardController to send all $ZKPs from its balance as rewards.

Calls to FxRoot on the Ethereum network will trigger the corresponding calls on the Polygon network. This is done through the bridging mechanism provided by the MaticBridgeModule.