Modification of 1 Year Bonus for Squad NFT Holders

Title: Revision of 1 Year Bonus Program for Squad NFT Holders - Introducing Proportional Monthly Rewards

Proposal Number: 4]

Date: [17 November. 2023]

Proposed By: [Kushed]

Abstract:

This proposal aims to revise the existing 1 Year Bonus structure for Squad NFT holders. The current system rewards holders who keep their Squad NFT for an entire year. We propose modifying this to a more dynamic, monthly distribution system where rewards increase proportionally with the duration of holding, capped at one year.

Current System:

• Holders of Squad NFT receive a bonus for retaining their tokens for a full year.

Proposed Modification:

• Implement a monthly distribution system where 1% of the $SQUAD supply is divided equally over 12 months, resulting in 833,333 $SQUAD tokens distributed each month.
• Eligibility for monthly rewards is contingent on holding Squad NFT for the entire respective month.
• The amount of reward increases progressively with the duration of holding, up to a maximum of one year.
• Rewards are distributed on a monthly basis.

Rationale:

• Fairness: This system provides a more equitable distribution, rewarding members proportionally to their holding duration.
• Incentive for Long-Term Holding: Encourages members to hold Squad NFT for longer periods, thus stabilizing the token's value.
• Flexibility: Offers flexibility for members who cannot commit to a full year but still contribute to the ecosystem.
• Increased Engagement: Monthly rewards can increase community engagement and interest in the Squad NFT ecosystem.

Voting:

• Yes Vote: Agree to modify the current 1 Year Bonus system to the proposed monthly distribution model.
• No Vote: Prefer to keep the current 1 Year Bonus system unchanged.

Duration of Vote:

• Voting starts on [17 November 2023] and ends on [19 November 2023].

Additional Notes:

• The community is encouraged to discuss the implications of this proposal in the designated forum.

Conclusion:

This proposal seeks to balance the interests of both short-term and long-term Squad NFT and $SQUAD holders, fostering a more dynamic and engaging community ecosystem. Your vote is crucial in shaping the future of our community's reward structure.