#1 - Should we let POPO participate in the next Memecoin Madness by providing some incentives for trading POPO?

BACKGROUND We are finalizing the plans for Memecoin Madness and deciding which Sei memecoins will be included into the next phase as part of LP incentives as well as trading incentivies in the form of SEI and/or SEIYAN rewards: https://medium.com/@seiyantoken/transition-into-seiyan-superfrens-memecoin-madness-phase-3-redux-aa4ba07b7159

One memecoin of particular controversy is POPO (https://x.com/Popo_On_Sei). POPO is a Sei memecoin with relatively notable volume on the chain and was included as a main participant in the first stages of memecoin madness. Unfortunately, the original team (allegedly from one particular team member) had rugpulled (https://x.com/seiyantoken9000/status/1824210186569228481). Shortly afterwards, it underwent a "community takeover" (CTO) and has continued to post content and remain active with its community. Since then, POPO has been able to recover their market capitalization and ilquidity (https://dexscreener.com/seiv2/0xa2aee4f82023c6614f3ab40041c3b434ff97b439).

The POPO community has several times requested a second chance by joining back into participation for the next upcoming phase of Memecoin Madness. The SEIYAN Team has considered the Pros and Cons, but in the end we decided that this should be a SEIYAN community decision. We encourage all voters to do their own due diligence beyond the following:

POPO Pros: -Recovered price and market cap for its community. -Has continued to remain active with regular content. -Holds relatively higher liquidity and volume than other tokens on Sei.

POPO Cons: -The "community takeover" team includes one member (Gigachad) from the original team. This member frontran the rugpull at the time. -Team controlled allocations still comprise a substantial amount of tokens.

THE VOTE: So for our first governance test, should we let POPO participate in Memecoin Madness by providing some incentives for trading POPO?

-Option A - Yes (SEIYAN determines final incentive amounts) -Option B - No (POPO will not be able to participate) -Option C - Abstain (meets quorum minimums but does not affect vote answer)

ADDITIONAL IMPLICATIONS If this governance system is successful, we will begin development of a formal SEIYAN DAO process in which staked SEIYAN tokens (e.g., xSEIYAN) can be used for voting by single-sided staking them. This enables staked SEIYAN holders to have a participation right in determining future Memecoin Madness campaign variables and treasury expenditures for incentives (as well as possibly other decisions as needed). As we intend for Memecoin Madness to be a multi-phase ongoing campaign, SEIYAN token holders will be able to help influence and shape the memecoin ecosystem on Sei Network. For now, we will use unstaked SEIYAN directly for the first few proposals as part of a governance pilot program.