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TreasureKeyTreasureKeyby0x177d82553bdbaD8AfFE6481848800F1F2C234d9D0x177d…4d9D

Should we proceed with the 1:1 Direct Bridging?

Voting ended over 4 years agoSucceeded

The BSC & Polygon ecosystem are operating entirely differently now.

Profits from BSC games are going into the pool for PIRATE holders and the profits from Polygon games are going into the pool for PIRATEP holders.

We are considering to allow their prices to be determined by the free market instead of artificially creating a 1:1 Bridge for PIRATE and PIRATEP.

Pros and Cons of a 1:1 Bridge:

Pros: both prices on BSC and POLY will be similar and there will be price support from the stronger protocol.

Cons: there will be downward pressure on the token with higher price perpetually, prices can't grow organically. On top of that, we might face potential security risk that can happen because of the bridge exploits that happened recently (on anyswap). To add on, the 1:1 bridge would mean that if ever 1 token on any chain get exploited, the rest will get exploited as well since price are pegged as compared to each having its own price in each ecosystem.

For the 3rd option (No, but earning split equally) meant that, whilst we don't have the 1:1 bridge, all the earnings on BSC and Polygon will be consolidated end of every weekly and distributed equally (7.25:6) ratio. Eg, if we made $132,500 this week, $72,500 goes to PIRATE holders and $60,000 goes to PIRATEP holders because thats the current supply allocation.

(Staked PIRATE or Staked LP or LP holdings in wallet will not be counted so you need to unstake and hold PIRATE in your wallet right before block 9881500)

Countdown to snapshot: https://bscscan.com/block/countdown/9881500

Voting will open and start on 9th August 2pm UTC and ends 11th August 2pm UTC.

*If voted "No", 1:1 bridge won't happen but in return, to help support price of PIRATEP, all profits from Polygon game and chest will stay within Polygon and not flow to BSC for PIRATE holders.

Off-Chain Vote

Yes to 1:1 Bridge
5.04K 0.4%
No to 1:1 Bridge
6.56K 0.5%
No, but earnings split equally
1.24M 99.1%
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Timeline

Aug 08, 2021Proposal created
Aug 09, 2021Proposal vote started
Aug 11, 2021Proposal vote ended
Oct 26, 2023Proposal updated