[PIP-1] PINE Token Drop to Pine Pieces Genesis Holders

Author: Pine Protocol Team Dated: 2023-03-15

Summary:

This proposal suggests dropping PINE tokens to the holders of Pine Pieces Genesis NFTs, which were issued during the Pine V2 launch as a commemorative item for early adopters. The PINE tokens will enable the Pine Pieces Genesis holders to participate in governance and take an active role in shaping the future of Pine Protocol.

Motivation:

Pine Protocol aims to build a decentralized infrastructure that facilitates the adoption of asset-backed financing on-chain. As a true believer in blockchain technology, we envision a future where payment will be done in digital currencies and asset ownership will be represented by non-fungible digital tokens (NFTs). Our mission is to build technology that will allow asset-backed financing to be conducted more efficiently and transparently on the blockchain. The motivation behind this proposal is to incentivize early users to participate in governance and play an active role in shaping the future of Pine Protocol. The Pine Pieces Genesis NFTs were issued to commemorate the launch of Pine V2 and are held by early adopters who have already used the platform. By dropping PINE tokens to Pine Pieces Genesis holders, we will enable them to take an active role in governance and decision-making without providing any additional incentive to use the platform.

Specification:

The PINE tokens will be dropped to the Pine Pieces Genesis NFT holders in a ratio of N:1, i.e., N PINE token for each Pine Pieces Genesis NFT held. The PINE tokens can be staked to become a governance unit, allowing Pine Pieces Genesis holders to participate in governance and decision-making for Pine Protocol. Options:

• 500 PINE/PPG1
• 1000 PINE/PPG1
• 5000 PINE/PPG1
• 10000 PINE/PPG1

Copyright:

Copyright and related rights waived via CC0.