TRTL-0004: Incentivizing Moving to wTRTL

It has been over six (6) months since the community started the process of wrapping v1 TRTL into wTRTL on Fantom Opera. In that time, multiple activities have taken place to help people understand that the v1 chain is ending and that all funds need moved over to wTRTL. However, at the time of this proposal was initiated, only ~10% of the v1 circulating supply had made the move.

The gTRTL voting community showed strong support for helping people understand the need for swapping sooner than later. As the v1 chain winds down, it becomes easier and more cost effective to perform attacks against the network. The risk of which was always known and communicated. This message apparently continues to fall on deaf ears as many in the community continue to wait on the v1 chain "just in case".

Let us be clear, v1 is counting down toward the chain halting, the process has already started, block rewards are dropping (quickly), it is final.

The gTRTL voting community recently accepted a proposal of implementing an ever increasing swap penalty for users that continue to wait to wrap to wTRTL.

In this vote, gTRTL voters are charged with setting the rate(s) of those penalties. Any penalties collected thru the wrapping process will be stored safely and their disposition will be put to vote at a later date.

The penalties will, depending on which option is chosen, be applied starting around June 1, 2022 and continue through the end of the v1 chain.

Below are the penalty options and the rate at which the penalty applies, please vote accordingly:

For example: if one were to swap 1,000,000 v1 TRTL and a 10% penalty applies, the base 10 wTRTL would have 1 wTRTL going to the lock box for later disposition, ~0.64 wTRTL may go to swap gas, and the user would receive ~8.36 wTRTL. These figures are presented for example only.

Option: Be gentle, it's our first time

• June 2022: 5%
• July 2022: 10%
• August 2022: 15%
• September 2022: 20%
• October 2022: 25%
• November 2022: 30%
• December 2022: 35%
• January 2023: 40%
• February 2023: 45%
• March 2023: 50%
• April 2023: 100%. Thank you for contributing to the coin burn. v1 chain will be long dead.

Option: Well, that escalated quickly...

• June 2022: 5%
• July 2022: 10%
• August 2022: 20%
• September 2022: 30%
• October 2022: 40%
• November 2022: 50%
• December 2022: 60%
• January 2023: 70%
• February 2023: 80%
• March 2023: 90%
• April 2023: 100%. Thank you for contributing to the coin burn. v1 chain will be long dead.

Option: I like my TRTL how I like my QoE reports...

• July 2022: 25%
• October 2022: 50%
• January 2023: 75%
• April 2023: 100%. Thank you for contributing to the coin burn. v1 chain will be long dead.

Option: In Jerome we trust

• June 2022 thru March 2023: Penalty rate is tied to US Fed Rate. Each 25 basis points is translated to 5% tax. Updated in near real-time.
• April 2023: 100%. Thank you for contributing to the coin burn. v1 chain will be long dead.

Please consider each option carefully before casting your vote.