Proposal Overview

This proposal invites the Panther DAO community to discuss and determine the amount of $ZKP to be minted for the V1 deployment on Polygon. The mint will fund protocol incentives, PRP redemption, initial liquidity, and the Subsidy Pool, all within a compliance-driven framework.

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Motivation

With the upcoming V1 DAO Zone launch, it is necessary to fund the rewards pool so that users who contribute assets to Panther’s privacy set can earn PRP and redeem PRP for $ZKP. These rewards are designed to incentivise active protocol participation and are directly tied to privacy set growth.

The DAO previously approved a total of 8M $ZKP for V1 rewards across deployments. That intent remains unchanged, with emissions split across networks as deployments become available.

For the Polygon V1 deployment, the total mint will be capped at 5.1M $ZKP, allocated in accordance with PIP-26 and broken down as follows:

• 4,000,000 $ZKP for V1 privacy rewards
• 100,000 $ZKP for initial AMM liquidity (as defined in PIP-26)
• 1,000,000 $ZKP for the Subsidy Pool (as defined in PIP-26)

Any allocation for the Base deployment will be proposed and voted on separately once that deployment is ready.

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Proposed Changes

1. Privacy Rewards and Incentives

• 4,000,000 $ZKP will be allocated to the V1 privacy rewards pool.
• PRP may be earned for verifiable contributions to the Panther privacy set and redeemed for $ZKP in line with PIP-26 parameters.
• Emissions and vesting schedules will be determined by the DAO, with guidance drawn from approaches used in the Canary Network.

2. Initial AMM Liquidity

• 100,000 $ZKP will be minted to provide initial AMM liquidity, in accordance with PIP-26.
• This allocation is intended to support orderly market formation and early protocol usability.

3. Subsidy Pool

• 1,000,000 $ZKP will be minted for the Subsidy Pool, as approved under PIP-26.
• The Subsidy Pool will be used to support protocol adoption and participation under the parameters defined in PIP-26.

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Funding

All mints under this proposal will be sourced from the 450M $ZKP protocol rewards allocation.

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Next Steps

• Community discussion on the proposed allocations and vesting schedules for Polygon V1.
• Voting: PIP-30 will be published on Snapshot for a 3-day vote, with voting eligibility defined in PIP-7.

** Addresses **

Panther contracts on the mainnet: - DAO_Multisig@eth: 0x505796f5bc290269d2522cf19135ad7aa60dfd77 - VestingPools@eth: eth:0xb476104aa9D1f30180a01987FB09b1e96dDCF14B - ZKPToken@eth: eth:0x909E34d3f6124C324ac83DccA84b74398a6fa173

Panther contracts on the Polygon: -Safe@matic:0x026a024b13B4Ca23897ad578264C0ec543f904b9

Mainnet->Polygon PoS Bridge: - FxRoot@eth: eth:0xfe5e5D361b2ad62c541bAb87C45a0B9B018389a2 - ERC20PredicateProxy@eth: 0x40ec5B33f54e0E8A33A975908C5BA1c14e5BbbDf - RootChainManagerProxy@eth: 0xA0c68C638235ee32657e8f720a23ceC1bFc77C77

** Transactions for the snapshot **

Transactions Overview

Mint 5,100,000 $ZKP for donation and AMM reserves and send tokens to safe owner on Polygon via PoS bridge

1.1 VestingPools@eth::addVestingPools(["0x505796f5bc290269d2522cf19135ad7aa60dfd77"], [[false,true,1772150400,1,5100000000000,5100000000000,0]])
1.2 VestingPools@eth::updatePoolTime(22, 1769126400, 1)
1.3 VestingPools@eth::releaseTo(22, "0x505796f5bc290269d2522cf19135ad7aa60dfd77", "5100000000000000000000000")

1.4 ZKPToken@eth::approve("0x40ec5B33f54e0E8A33A975908C5BA1c14e5BbbDf", "5100000000000000000000000")
1.5 RootChainManagerProxy@eth::depositFor("0x026a024b13B4Ca23897ad578264C0ec543f904b9", "0x909E34d3f6124C324ac83DccA84b74398a6fa173", "0x0000000000000000000000000000000000000000000437f78dd1e1ef1b800000")