Vote in the pNetwork DAO — The first proposal is open!

pNetwork Team
Aug 26 · 4 min read
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The time has come — members may now vote within the pNetwork DAO!

After a successful launch, including the inaugural two-week epoch 0 — during which 935 PNT holders committed to stake, vote, and earn 42% APR interest in rewards — the pNetwork DAO is pleased to open its first voting proposal.

Not only does voting empower the community to govern the development of the pNetwork ecosystem; it also ensures that participants will be eligible to receive their PNT rewards as active members of the DAO.

Stake for your ticket to vote

Voting is open to those who have staked PNT and received daoPNT, the token issued by the staking manager to represent a contribution to the DAO. Through active voting, daoPNT holders become eligible for earning interest on their tokens at stake. Active members are defined as daoPNT holders that have voted on all proposals except one within an Epoch (approx. two-week period).

There is no minimum to stake to be able to vote. Because the DAO is set up with a linear voting system, each daoPNT token represents one voting right, granting each holder a voting power that is proportional to the amount of tokens they have at stake. Each member can view their voting power on the Aragon and Eidoo dashboards.

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Review the open proposal(s)

DAO members can access the pNetwork’s first proposal on the Aragon platform and from the Eidoo app. There you can review the summary along with a more detailed explanation available on IPFS.

Voting will be open for approx 2 more days, and will close before the end of Epoch 1 so that rewards can be distributed accordingly.

Proposal: Incentivising pLTC liquidity

Should the DAO incentivise pLTC liquidity providing on Ethereum?

Liquidity mining initiatives are populating Ethereum’s DeFi. But while existing incentives are given to holders of Ethereum-based and Bitcoin-wrapped assets, Litecoin holders are currently excluded from the DeFi ecosystem. By creating new incentives for pLTC on ETH — which invites users to lock LTC within the pTokens system for it to be moved on Ethereum — we aim to fill this gap.

With the approval of the DAO, which aims to grow the pNetwork ecosystem and boost adoption of pTokens, this proposal will direct a part of the DAO funds towards a new liquidity mining initiative. Specifically, incentives would be awarded when providing liquidity for pLTC on ETH within a given liquidity pool.

The first trial of an incentives programme connected to the pNetwork ecosystem is currently running in the form of PNT on Steroids, a mechanism to increase liquidity in the PNT/USDT pool on the Uniswap decentralized exchange. If approved, this proposal would expand the Steroids programme to other assets, starting from pTokenised LTC.

To review and vote on this proposal, navigate to the pNetwork DAO interface on the Aragon platform or visit the pDAO Manager within your Eidoo app.

Join the discussion and vote in the DAO

With an estimated 60% of the Total Supply locked in, it’s clear that the DAO is growing stronger every day. And just as this initial proposal was submitted by community members, we anticipate that future epochs will reflect the ingenuity and vision of the DAO.

In order to facilitate community discussion of these proposals, we welcome DAO members to two new spaces dedicated to pNetwork governance: the pNetwork forum and the pNetwork Discord server.

We hope you will join us and other community members to assess open proposals, suggest new ones, and participate in the growth and development of the pNetwork.

🦜 Want to join our flock? Connect with us on Twitter and join the conversation in our pTokens Telegram and Discord.

💡 For a more technical deep dive into pTokens infrastructure, read our technical paper or check out the summary on our website.

🔋 Learn more about the pNetwork, the decentralized system and DAO powering pTokens.

🔗 For any blockchain project looking to integrate pTokens into their infrastructure, we have also built a pTokens JS library.

💌 Excited about pBTC & pLTC? Sign up for our newsletter and be the first to know which blockchain pTokens will make their home in next.

pNetwork

Enabling cross-chain DeFi composability

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