Formal Approval for Platform Fee Distribution Model

Abstract

This governance proposal seeks formal approval from the community regarding the preferred method of distributing platform-generated fees. After considerable discussion and a preliminary temperature check on Discord, this vote aims to provide a definitive, transparent decision aligning with community interests prior to the launch of the much anticipated staking.

Context & Current Status The Sherlock audit contest concluded on March 10, 2025. Preliminary audit results are expected to be released by March 24, 2025, 16:00 UTC. Staking webpage is currently being finalized, completion expected by the end of March 2025. Initiation of profit distribution is anticipated for late March or early April 2025, contingent upon audit results, as well as formal approval via this snapshot vote of the distribution model.

Previous Community Sentiment A recent Discord temperature check indicated the following: 50 votes: In favor of a Snapshot vote limited exclusively to “Buyback & Distribution” or “USDC Payout.” 23 votes: In favor of a broader Snapshot vote evaluating multiple distribution models. Based on this feedback, we propose a formal Snapshot vote restricted solely to these two primary distribution methods.

Objective of Vote This formal governance vote is intended to clarify and conclusively establish the community’s preferred profit distribution method, ensuring clear alignment and community consensus before staking is launched.

Explanation of Vote Options Community members are asked to select one of the following: Buyback & Distribution: Platform fees are used to repurchase $SYMM tokens from the open market, subsequently distributed back to token stakers. **Cash Payout: **Platform fees are directly converted into stablecoins and distributed proportionally to token stakers. **Do something else: ** The discussions/options are not sufficient, and we should re-evaluate the whole proposal. Abstain: To abstain is to refuse to vote either for or against any options.

Voting Period: The vote will be running till 28th march.

Next Steps Following this vote, the selected distribution method will be implemented promptly, We appreciate your prompt participation.

The Symmio Team