#Proposal2 Voting Results

We at Subpad are thrilled to announce the results of our Governance #Proposal2 voting.

The voting turnover was 93505 of the total eligible votes that were cast.

Why Governance?

We have conducted a Governance #Proposal2 voting to propose crucial changes that will enhance the overall efficiency of the Subpad ecosystem.

To do so, we proposed abolishing the Exit Fee on Subpad and changing the percentage of the sell tax distribution to the staking and treasury pools.

Among other changes, we also gave to your consideration the introduction of dividing the current staking pool into three pools (for xSUB, IDO, and NFT holders stakers).

Last, but not least we asked you how to dispose of accumulated funds in the treasury pool & from the bridging fee. Other minor questions regarding NFT Club were also present.

Our objective is to progress and move forward, which is why we promised to hold regular governance sessions.

What were the rules of Voting?

The Governance voting started on 28.04 at 3 PM UTC and ended on Tuesday (02.05) at 6 PM UTC. To participate in the voting the voter had to own at least 1 xSUB token before the snapshot time (02.05 6 PM UTC). 1 xSUB equaled 1 vote.

The owned xSUB tokens included only the valid xSUB tokens locked at Subpad.

For the verification process, 1 $SUB fee had to be sent to this wallet address: 0xEcB6bDA522aC880bBf116497A99594ee7329c750

Voting Results

Below we are publishing the voting results.

1. Do you support the removal of the 10% exit fee at Subpad and changing it to 0%? The consequence of this change would be the elimination of the exit fee and an increase in demand for xSUB.
   a. Yes, I don’t want to be charged a fee when unlocking my xSUBs — 80.65% Votes
   b. No, I want the fee to be charged and continue to go to the treasury and staking pools — 19.35% Votes
2. Do you support changing the percentage of the staking and treasury pools from the current sell tax (sell tax remains the same at 10%) to 6% for the treasury and 4% for staking?
   a. Yes, this would increase demand for the token — 69.40% Votes
   b. No, I don’t want a change, I want staking and treasury pools to be equal — 30.60% Votes
3. Can we divide the current staking pool into 3 pools:
   Pool 1: 60% rewards going for xSUB stakers
   Pool 2: 30% for those participating in IDO
   Pool 3: 10% for holders of the NFT Club?
   The current staking pool is based on the old rules, the new rules would apply since the new pool disposal.
   a. Yes — 80.36% Votes
   b. No — 19.64% Votes
4. How should we dispose of the funds in the treasury pool?
   a. Buy and burn SUB tokens with the funds raised from IDO — 100% Votes
   b. Add the funds to liquidity — 0% Votes
   c. Add the funds to the staking rewards pool — 0% Votes
5. Funds deposited in the bridge of $SUB and xSUB tokens were originally intended for liquidity building. Should we:
   a. Allocate them to liquidity (to stabilize the price) — 55.40% Votes
   b. Allocate them to buy back SUB and burn (increase price) — 44.60% Votes
6. We have created an NFT Club. The current entry requirements are to purchase 1 million $SUB tokens, with 50% going towards token burning and 50% towards company turnover. What would you like to name it?
   a. One Million Club — 32.01% Votes
   b. ICO Insider Club — 43.04% Votes
   c. Turtles Gang — 24.95% Votes
7. How many spots & NFTs should be available for purchase in the Club?
   a. 100–82.63% Votes
   b. 150–0% Votes
   c. 200–10.95% Votes
   d. 250–6.42% Votes
8. Should NFT owners & Club members have a 10,000 xSUB voting strength in Governance?
   a. Yes — 100% Votes
   b. No — 0% Votes

Summary

The new updates & changes are important from the perspective of our platform economy.

With the governance #Proposal2 passed another new Chapter opened for us all — a chapter with broad possibilities for the project & our community means you.

Thank you for your continued support of Subpad.

Subpad Team