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Overlay ProtocolOverlay Protocolby0x58654f05384E90004EC571ce732598C0f0b0eD790x5865…eD79

(OGP 16) - Count bridged OVL tokens in the Litter Box 3 campaign

Voting ended over 2 years agoSucceeded

Summary Count bridged OVL tokens in Litter Box 3 campaign. Some community members missed claim of OVL tokens in the Arbitrum network (limit = 200 participants from Overlay community, FCFS). Implementation of this proposal will allow some community members to qualify for Silver Cat NFT and Bronze Cat NFT rewards.

Abstract The Litter Box 3 campaign involved community members who claimed OVL on the Arbitrum network and participants who already had OVL tokens on the Ethereum network (Litter Box 1 and Litter Box 2 partakers). The second category of participants used the bridge https://app.overlay.market/#/bridge to transfer tokens. Several community members have successfully met the criteria for receiving rewards (>10 points and >33 points).

Implementing of this proposal will allow some community members to qualify for Silver Cat NFT and Bronze Cat NFT rewards. Such participants are currently highlighted in red in the Litter Box 3 Results Spreadsheet (based on Dune Dashboard by paliatzis#1538, edited by mertioi | Overlay#3397) https://docs.google.com/spreadsheets/d/1B7dHiF_7XuENJTtbpdijzABdx8uxKutbdqwQ9z3Xh58/edit?usp=sharing

Your total PnL can be calculated by: [ (Your final OVL at the end of Litter Box 3) / (Your initial OVL) -1 ] * 100

Thus, we propose to consider all tokens that have been transferred to the Arbitrum network from Ethereum Mainnet by Litter Box 3 participant as 'initial OVL' (as presented in the Spreadsheet above).

Risks There are no significant risks associated with this proposal. Bridged OVL tokens did not give participants any advantage over other participants, since the essence of the competition was based on individual perfomance (profit-loss and % change of own portfolio at the beginning and end of Litter Box 3).

Motivation Some old good community members who missed out on rewards in previous Litter Box campaigns will be able to claim it. This can lead to increased loyalty from the community and better decentralization of the protocol in the future.

Off-Chain Vote

Yes, count bridged tokens
1.59K Voting Right43.9%
No
2.03K Voting Right56.1%
Quorum:181%
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Discussion

Overlay Protocol(OGP 16) - Count bridged OVL tokens in the Litter Box 3 campaign

Timeline

May 03, 2023Proposal created
May 03, 2023Proposal vote started
May 06, 2023Proposal vote ended
Oct 26, 2023Proposal updated