Update as of May 20, 2024
The proposals (please refer below) subject of Iskra’s Fourth Governance Voting have passed the “Proposal Stage” with 100% upvote and no changes.
We’ll proceed with the Voting Stage on May 22, 2024. This stage is open to all Iskra DAO members to participate.
Please proceed here if you wish to participate in the Voting Stage once it opens.
Update as of May 10, 2024
- Current Stage: Proposal
- Voter: KOLs
- Voting Purpose: KOLs to vote on a proposal
- How to Vote: Connect to Snapshot
There were no feedback on the draft proposals during the Check Stage. The proposals will proceed to the next stage without modification.
Fourth Governance Voting as of May 2, 2024
Read 👉🏻 How to Connect to Snapshot
Termination of P-NFT Sales, Change in P-NFT Quantity, and Repurposing ISK Governance Staking Rewards
About the Check Stage
Iskra Governance follows a structured process of 3 key stages: Propose, Vote and Execute. The first process, Propose, is for setting the agenda for platform operations.
Within the Propose stage, there are two phases: Check and Proposal. The Check stage functions as a phase to gather various opinions from the stakeholders to ensure diverse viewpoints are considered before formalizing a proposal for the Proposal stage.
Please keep in mind that the information shared during this Check stage is only a preliminary draft rather than a finalized proposal. Any Iskra KoL reserves the right to modify the proposal content as needed at any time.
How can I edit the content of an agenda?
You may leave your comment via the voting feature in the Snapshot. If you have a lot to share, you can also leave a link to your blog where you shared your opinion instead of leaving a comment.
Vote now and make your voice heard as we, together, shape the future of Iskra Governance!
Introduction
This is a proposal to change the Iskra tokenomics to revolutionize the Web3 gaming ecosystem with ISKRA 2.0. For more information on ISKRA 2.0, please refer to the blog Evolutionary Solutions for Web3 Gaming Mass Adoption.
Background
1. Termination of P-NFT Sales and Change in P-NFT Quantity
- Due to a lock-up period of P-NFT staking rewards, holders have faced restrictions on utilizing these rewards, even though sufficient rewards have been distributed.
- To address this, we propose the cessation of P-NFT sales and a corresponding policy adjustment. This change aims to convert P-NFT staking rewards into rewards based on node operations, aligning with our plans outlined in the Whitepaper.
- We are also proposing to reduce the quantity of P-NFTs through burning. Such measure is designed to enhance the value of the existing 15,000 P-NFTs and optimize utilization for higher efficiency.
2. Repurposing ISK Governance Staking Rewards
- We propose introducing ISKRA 2.0 Activity Finance (ActFi), with a new value calculation aimed at incentivizing users based on their activities. Please see above blog for more information on ActFi.
- To accomplish this initiative, we suggest adjusting the payout schedule and quantity of current ISK Governance Staking rewards to allocate funds for ActFi.
Proposal
1. Termination of P-NFT Sales and Change in P-NFT Quantity
Setting a P-NFT sale cessation date
- At the end of the sales period, all locked ISK distributed through P-NFT staking will be unlocked.
- However, P-NFTs cannot be unstaked and sold on the market until the node is operational.
- The sales end date will be announced within 30 days after the proposal is passed through Governance Voting.
P-NFT quantity will be capped at 10,000 P-NFTs and the remainder will be burned.
- Any unsold P-NFTs by the end of the sale cessation date will be burned.
- The total number of P-NFTs will be capped at 10,000, consisting of P-NFTs sold by the end of the sale and reserve P-NFTs. Any remaining reserve P-NFTs will be burned (after P-NFT #10,000 will be burned).
2. Repurposing ISK Governance Staking Rewards
- Transfer the allocation of remaining Governance Staking rewards to ActFi reserve and change the Distribution Plan accordingly.
- Change Distribution Plan — Instead of paying out 10 million ISK per year for 20 years, the plan will be changed to pay out 20 million ISK annually for 10 years as follows.
- As is
- To be:
- Prior to executing ActiFi, we will offer the existing amount as a Staking reward.
- Once ActiFi is excuted, we will double the annual reward amount to 20 million ISK as the ActiFi reward.
(Above is a draft assuming ActFi goes live in July 2025, and thus subject to change based on start date.)
Impact
- With the launch of Iskra Chain, a blockchain tailored for games that utilize $ISK as a transaction fee, we are poised to transition from the Pioneer Stage, a phase for staking P-NFT to a Settler Stage, emphasizing S-NFT utilization.
- When P-NFTs are unstaked from the P-NFT Staking Contract, all Pioneer NFTs get burned and Settler NFTs will be newly minted.
- Existing P-NFT staking rewards will continue to be paid until the node becomes operational following the P-NFT sale conclusion.
Voting Option
We’d love to hear from you on above details for Check stage. Feel free to share your thoughts in the comments.
About Iskra
Iskra is a single-destination Web3 game platform for developers and players that rewards them for their contribution and participation through a unique community system on the blockchain. This allows stakeholders to take a major part in building the platform for future growth.
Current services include a wallet, DEX, marketplace, NFT Mission Card (daily reward), governance staking and voting, and soon-to-launch Web3 casual and hyper-casual games.
Backed by some of the biggest technology and video game companies in South Korea, Iskra ranks in the top categories for gaming in DappRadar for unique active wallets per day and engagement.
Explore the future of play!
Originally published at https://news.iskra.world on May 1, 2024.
