Distribution of RFP

Background:

This snapshot delineates the strategic framework for the imminent RFP within the Stargate DAO, a privileged recipient from the LayerZero foundation. After extensive review of the discussion revolving around this topic, a few proposals have emerged as contenders for consideration by the DAO.

There are 4 main factors that have been discussed: governance participation, LP, bridging, and partner protocols. All of these are accounted for within this proposals, and now the DAO should vote on if they deem it appropriate

The following are divided between the 90% left of RFP allocation after dev’s 10% cut.

Proposal

-38.5% to Bridgers, 5k minimum total volume, capped max 750k, linear

Reason: Exclusive users of the Stargate bridge, provides revenue for the protocol. Very important key players within the Stargate ecosystem. Should be allocated for their loyalty + promotion of our product.

-36.25% to veSTG voters contingent upon weight of all votes, ANY AMOUNT OF veSTG IS ELIGIBLE AS LONG AS IT REACHES CUMULATIVE MINIMUM OF 100 veSTG VOTE WEIGHT; EVEN IF YOU VOTE 10 veSTG 10 TIMES AS LONG AS IT REACHES 100 veSTG MINIMUM TOTAL (can vote with less than 100 veSTG, as long as it collectively makes up for 100 veSTG or more then you are eligible, see example), max 2m veSTG (CUMULATIVE; For example if you voted 4 times with 25 veSTG you are eligible/if you voted 5 times with 20 veSTG, or any other figure to cumulatively make up 100 veSTG in weight), linear

Reason: The decisions of the DAO revolve around governance, therefore building the protocol. Moreover, locking proves commitment to the protocol while participation of governance demonstrates active interest.

-25% to LP with minimum 1 week of providing + $250 minimum, capped $5m maximum, linear/time weighted (days x amount example: providing $50 for 10 days, $20 for 25 days, or any other figure such as, as long as it hits the one week requirement and collectively equals out to $500 or more based on days x amount)

Reason: Protocol’s backbone, without them there would be no foundation for the protocol to run on. Allocate to these providers for their loyalty.

-0.15% to Proposers

Reason: The decisions of the DAO revolve around governance, therefore building the protocol. Proposers have nearly no chance of being sybil, while taking risk to play a key role in governance.

-0.1% to ThinkTank

Reason: Core community members, must be accounted for. Have contributed many great thoughts.

Execution:

The foundation will submit an RFP to the LayerZero foundation with the winning outcome as soon as vote ends. Addresses accounted for based on said proposal to be submitted by June 10th. Allocations to be distributed by LayerZero foundation thereafter.

Summary:

An RFP allocation has been given to Stargate DAO and will need to be distributed based on the DAO’s opinions. The main factors discussed (governance, LP, bridging, partner protocols) are accounted for within this proposal. The community will now decide on appropriate weighing via vote.