Summary: This proposal aims to change the Team allocation parameters from a single unlock date to a linear release over two years.
Rationale: According to the original plan, the 20% Team allocation was scheduled to be unlocked 6 months after the ITO, specifically on the 5th of October 2023. However, releasing the entire allocation at once could have created substantial sell pressure, potentially destabilizing the market for our project. Acknowledging this risk, we have not yet distributed the team allocation. Given these considerations, we are now proposing a modified approach: a linear unlock spread over two years. Importantly, of the total team allocation, only 50% will be distributed in this manner over the two-year period. The remaining 50% will be reserved for the future use of the DAO, particularly for new contributors who might join our team later on.
This approach ensures both immediate and long-term alignment with the project's goals and provides flexibility for future growth and collaboration. This approach also demonstrates our commitment to the long-term success and health of the project, fostering greater confidence among investors and stakeholders.
Means: The team allocation will be distributed over a period of 24 months, starting from the end of the voting phase of this proposal (if accepted by the DAO). This means that a fixed percentage of the allocations will be released each day, ensuring a steady and predictable flow of allocations into the market. To facilitate this new schedule, we will utilize a protocol known as LlamaPay for the execution of this plan. LlamaPay enables us to "stream" the allocation of funds according to the predetermined parameters. This approach involves setting up the protocol to distribute the team's allocations in a continuous stream, aligning with the agreed-upon progressive linear schedule. By leveraging LlamaPay's capabilities, we can ensure a seamless and automated distribution process, adhering closely to the newly established monthly intervals. This method not only simplifies the distribution but also upholds the highest standards of security and efficiency in the allocation process.
Technical Implementation: Create and configure the LlamaPay Streaming parameters Move the funds from the team allocation contract to the Treasury Multisig Fund and Start the LlamaPay Streaming