Implementation of a Lock-up Period for veSAIL Tokens

1) What's the big idea?

This proposal aims to establish a lock-up period for veSAIL, the vote-escrowed version of the SAIL token, which is used for governance in AdmiralDAO. The introduction of a lock-up period is intended to stabilize the veSAIL token exchange rate, encourage long-term commitment among holders, and enhance governance participation.

2) What is the problem you are trying to solve?

Currently, without a lock-up period, veSAIL tokens can be traded or transferred without restrictions, potentially leading to short-term speculation and reduced commitment to the long-term goals of AdmiralDAO. Implementing a lock-up period will align the interests of veSAIL holders with the long-term success and stability of the DAO.

3) Who is this for?

This change would benefit all @SAIL Token Hodler and @veSAIL Token Hodler , especially those involved in the governance of AdmiralDAO. It aims to incentivize long-term engagement and decision-making that benefits the broader community and the DAO's future.

4) How might this work?

Upon approval, a lock-up period will be implemented for veSAIL tokens. Token holders will have the option to lock their tokens for a predetermined period, during which these tokens cannot be transferred or sold. The length of the lock-up period and any associated incentives or penalties for early withdrawal will be defined based on a follow-up proposal should this one pass.

5) How will we measure success?

Success can be gauged by increased long-term holding of veSAIL tokens, greater stability in the exchange rate, additional participation in the governance process, and overall positive sentiment within the AdmiralDAO community.

By introducing a lock-up period for veSAIL tokens, this proposal seeks to foster a more committed and stable governance environment within AdmiralDAO, aligning token holders' interests with the long-term objectives of the DAO.

Important Links:

Link to Phase 1 (discussion): https://discord.com/channels/844729067311202334/1200151333215416380

Link to Phase 2 (temperature check): https://discord.com/channels/844729067311202334/1142078406188601497/1207075059093737562