Change of Tax Utilization

The following proposal seeks to change the utilization of the $TPAD tax.

Currently, 20% of taxes are used to send $wTAO to $TPAD holders, while 80% are used to stake $TAO, increase $wTAO liquidity, or do buybacks (as per previous community votes).

If the community votes NO on this proposal, no changes to the above will be made.

If the community votes YES on this proposal, the mechanism above will be changed to the following:

20% of taxes are used to send $wTAO to $TPAD holders.

80% of the taxes are either used for buybacks (and a possible burn of $TPAD) and investing into launches on TaoPad. The bought tokens are then airdropped to $TPAD holders.

Outside of the pre-sale weeks, the 80% are used to do buybacks and follow the community votes (e.g. increasing Liquidity for $wTAO on Arbitrum)

Example

During a pre-sale week of TaoBank, TaoPad uses 80% of its token tax to invest into the pre-sale round of the current launch. After the pre-sale closes, those bought TaoBank tokens are airdropped to $TPAD holders, proportionally to their amount of $TPAD. In between different pre-sales, 80% of the taxes are then used to do buybacks and to follow future community votes.

There are lively discussion about this topic on our Discord server!