STMX Growth Pool

Approve or deny a proposal that would create a Growth Pool of STMX tokens to be spent on ongoing StormX ecosystem rewards by increasing the total supply of STMX during the token swap by 25%.

Summary StormX Staking and Membership rewards have been set at competitive rates attracting many users to the ecosystem. Overtime these rates have been lowered to help with the burn of the treasury, but we have reached a point where the StormX treasury is running out of STMX to pay for these rewards.

StormX proposes that we increase the total supply of STMX tokens by 25% (2.5B). These tokens will be used exclusively for paying out staking and membership rewards and any other activities which incentivize growth of the StormX ecosystem. The tokens would be created during the upcoming token swap which will launch by the end of October 2022.

To be clear, the token swap will happen regardless, this proposal is only voting on creating a Growth Pool. To learn more on why there is a token swap please read https://stormx.io/blog/governance-token-swap

To summarize the blog post, the token swap will create a new STMX token which all token holders of the old STMX token are eligible to receive. The new token will be upgradeable which helps ensure StormX is future proofed to any new changes to the Ethereum ecosystem. The swap ratio is 1:1.

The newly created STMX tokens in the Growth Pool will be spent on the following schedule. Year 1: 40% (1B STMX) of Growth Pool spent Year 2: 40% (1B STMX) of Growth Pool spent Year 3: 20% (0.5B STMX) of Growth Pool spent

Within three years all of the newly created 2.5B STMX tokens will be spent to grow the ecosystem.

Voting Options Choice 1 - Increase STMX supply by 25% Choice 2 - Do NOT increase STMX supply