Proposal #3 - Polygon Staking / Voting
This proposal involves extending Panther's existing DAO governance / voting structure and the ongoing Traditional staking program to Polygon.
It follows on from Proposal #2, which concerns extending the ZKP token to the Polygon PoS network over the Polygon bridge. This proposal #3 is subject to the approval of Proposal #2, since governance and staking are not possible on Polygon unless the token and bridge are deployed. If Proposal #2 is not accepted, Proposal #3 becomes null and void. You can see the rationale behind Proposal #2 here.
Please vote to accept or reject the proposed conditions detailed below. To participate in voting, you need to have staked $ZKP in Panther's "Traditional" staking solution. As per the existing DAO governance structure, voting power is calculated by snapshot.org taking a snapshot of the number of ZKP tokens staked at the block within which the proposal was created.
The following actions are proposed:
- Initialize "Traditional" staking contracts on Polygon, which operate in essentially the same way as the existing "Traditional" staking contracts already active on Ethereum mainnet.
- Bridge a total of 2M $ZKP immediately vested from a new Polygon Staking Rewards Pool for "Traditional" Staking rewards on Polygon. The total of 2M $ZKP aims to create a fair balance between the rewards available for stakers on both networks (although it should be noted that all $ZKP holders are free to stake on either/both networks).
- Extend DAO governance and voting to the Polygon network by switching https://snapshot.org/#/pantherprotocol.eth to a multi-chain strategy which uses a combination (i.e. sum) of voting power from $ZKP staked on both Mainnet and Polygon.
- Add new "no rewards" staking terms to the existing staking contract on the Ethereum mainnet, for the Foundation or anyone else who wishes to be able to stake for governance without earning rewards.