We appreciate our community’s active participation and feedback on the previous proposal for handling unclaimed TINY tokens. Your input is invaluable to us. We are now presenting an updated version of the proposal that incorporates your suggestions, particularly concerning the distribution ratio of TINY tokens. We encourage you to review and vote on the revised proposal.
Abstract
This proposal recommends addressing the unclaimed airdrop tokens after three months by either burning them or adding them to the Tinyman governance rewards. This approach aims to manage the supply of TINY tokens effectively, ensuring the value is maintained and demonstrating our commitment to the platform’s sustainability.
This approach also acknowledges our community’s recent feedback to keep the distribution ratio between the community, protocol, and investors more equal. It also contributes to further strengthening the Tinyman Governance System.
Objective
To decide on handling unclaimed airdrop tokens after 3 months by either burning them or adding them to the Tinyman governance rewards.
Background
During the initial airdrop, a significant number of TINY tokens were allocated to loyal users. In total, 60 million TINY tokens were claimable by the community. However, some of these tokens may remain unclaimed after three months. To ensure these tokens contribute positively to the ecosystem, we propose two options: burn the unclaimed tokens to reduce the total supply or adding them to the Tinyman governance rewards.
Details: Handling Unclaimed Tokens
1. Burning the Tokens:
- Any TINY tokens unclaimed after three months will be permanently removed from circulation.
- This action will decrease the overall supply of TINY tokens, which can enhance stability and create a more favorable environment for token holders.
2. Adding the tokens to Tinyman governance rewards:
- Unclaimed tokens will be added to the current governance rewards and will be distributed to Tinyman governors in accordance with their governance commitments over the next 4 years
- This maintains the current token supply and helps to maintain the original distribution ratio between the community, protocol, and investors
Community Benefits
- Burning Tokens:
- Reduces the total supply, potentially increasing scarcity and value.
- Sends a message of commitment to token value preservation.
- Adding Tokens to Governance Rewards:
- Contributes to further strengthen the Tinyman governance system.
- Grants Tinyman governors with higher rewards.
- Contributes to the original token distribution ratio.
Implementation Steps
- Smart Contract Update (if burning option is chosen):
- Modify and redeploy the smart contract to handle the burning of unclaimed tokens.
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Add the unclaimed amount of Tiny tokens to the governance rewards and distribute them equally over the next 4 years
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Community Communication:
- Inform the community about the decision and its benefits.
Potential Challenges
- User Acceptance:
- Ensuring the community supports the decision, whether it’s burning or adding to governance rewards .
- Market Reaction:
- Monitoring the market’s response to the chosen strategy.
Metrics for Success
- Token Price Stability:
- Track the stability and growth of the TINY token price post-implementation.
- Community Sentiment:
- Monitor feedback from the community through communication channels & metrics.
Budget and Funding
- No Additional Funding Required:
- The initiative utilizes existing unclaimed tokens, ensuring no extra burden on the treasury.
Conclusion
This proposal aims to effectively manage the unclaimed airdrop tokens by either burning them or adding them to Tinyman governance rewards. Both options have the potential to impact the Tinyman ecosystem, and the community’s decision will contribute to its long-term sustainability and growth.
- Burn
- Add to Governance Rewards
