[LIP #4.1] Community Rewards — Quartely pool size
The Lattice community has put a new proposal up for voting. This proposal suggests different options for the size of the quarterly pool in line with the previously accepted LIP #4.
As per LIP #4, the governance system should reward users for their activity and participation. To achieve this, LIP #4 implemented an annual reward pool and a quarterly reward pool, with a total of 1,000,000 $LTX per year, to incentivize both long-term and short-term participation.
LIP #4.1 proposes having the majority of rewards going into the annual pool to strongly encourage the long-term participation of veLTX holders in our governance system. However, the size of the quarterly pool needs to be decided by the veLTX holders through voting.
There are three options for the size of the quarterly pool:
- 15% of the total rewards (150,000 $LTX)
- 20% of the total rewards (200,000 $LTX)
- 25% of the total rewards (250,000 $LTX)
The community members need to vote for their preferred option within the given timeline.
There are no additional technical or financial requirements for this proposal besides that of LIP #4.
Voting Process
veLTX holders can vote on this proposal through the Lattice governance platform.
The vote begins Tuesday, March 14, 2023, at 10:00 a.m. PT and will remain open for seven (7) days, closing on Saturday, March 21, 2023 at 10:00 a.m. PT. A quorum of 33% of all veLTX tokens is required for a valid vote with a simple majority to pass.
We encourage all veLTX holders to participate in the voting process and have their say in shaping the future of our governance system.
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