The pSTAKE Protocol went live on Cosmos with a 5% protocol fee on $ATOM staking rewards generated. This struck a balance between having one of the lowest fees on liquid staking $ATOM in Cosmos and the pSTAKE protocol's sustainability.
At launch, the protocol’s revenue address was set to 'persistence18dsfsljczehwd5yem9qq2jcz56dz3shp48j3zj'. In light of decentralizing this aspect of the pSTAKE Protocol, this proposal suggests updating the revenue address to a new pSTAKE on Cosmos Revenue Multisig, 'persistence12d7ett36q9vmtzztudt48f9rtyxlayflz5gun3'.
The multisig holders of the wallet are:
If this proposal passes, a separate proposal will be put up on the Persistence chain to update the protocol revenue address. All revenue generated by pSTAKE on Cosmos to date & in the future will be sent to the new multisig address. The pSTAKE on Cosmos Revenue Multisig will also be the default protocol fee/revenue address for all future chains supported by pSTAKE for liquid staking in Cosmos.
Vote 'FOR' if you agree with updating the pSTAKE on Cosmos revenue address as suggested.
Vote 'AGAINST' if you disagree with updating the pSTAKE on Cosmos revenue address as suggested.
Vote 'ABSTAIN' if you do not wish to participate in this proposal.