Due to our development plans, we would like to initiate a decentralized vote with the following purpose:
The proposed change will only apply to newly farmed MILK2. Users can harvest 10% during the yield farming period. The rest will be forcibly stored in the token contract. It will only appear in holders’ usable balance once it unlocks. The 90% balance will unlock in a linear (sequential) fashion over a 3-year time period and after the first year. The founder’s reward will be increased to 8%. ⅔ of the funds will also be locked according to the general rules of the new lockup - under the same 3-year vest schedule as the community fund. This prevents the kind of disaster that SushiSwap had. ⅓ of the funds won’t be locked - the unlock for the team will be activated every month. The lockup will be laid out in a smart contract. The lockup will unlock linearly with every block, over the 3 years. The lock of the token is part of the MILK2 token’s characteristics. So the SpaceSwap team cannot retrieve tokens from the user. All your funds are in your possession during the lockup period.
Why is it important? This long-term lockup guarantees that the incentives are aligned with the community’s demands. It also prevents the risk to the community of optimization for short-term gain and being dumped on.