[PIP-7] Expand to 8 chains with "Give" function

VaultCraft Improvement Proposals VaultCraft Improvement Proposals [VIP]
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Summary

If approved via snapshot vote, this Popcorn Improvement Proposal will:

  • create a Give token (%) function on popcorndao.finance to give token stakers the option to nominate a user-specified amount of their tokens to a donation pool upon unstaking

and

  • launch XEN-POP stake pools on all chains that XEN Crypto has launched on

The cumulative benefits of these improvements will:

  • give XEN holders (‘Xenians’) across 7 chains (at 25 Oct) the opportunity to set the price for XEN

  • give these XEN holders an opportunity to earn and farm noble yield via POP staking rewards

  • increase the number of PopcornDAO members that can vote on governance, product and charitable partnership proposals via the vlPOP tokens they receive when they stake their POP rewards

  • give ALL Popcorn users (including Xenians participating in the XEN-POP stake pools) the option to donate a user-specified portion of their XEN and/or POP tokens to a transparent donation pool

  • amplify the total number of XEN and POP tokens globally that can be allocated to charitable recipients. This is on the basis that individuals alone are unlikely to donate, however if there is a mechanism to pool very small increments from a large amount of users then this could have a significant macro benefit

The XEN and POP communities could further gamify this via creation of NFTs or verified Discord roles etc

  • The growing PopcornDAO (including Xenians) will then vote on how to distribute the pooled tokens to support the shared principles of XEN Crypto and Popcorn (eg organisations involved in first principles of blockchain, education, financial equity)

  • PopcornDAO becomes a de facto social impact partner for XEN Crypto, allowing the XEN Crypto team to continue focusing on product development and deployment.

XEN-POP Stake Pool Economics:

  • APY: variable
  • POP rewards: 100,000 spread across the chains listed below
  • Chains: BSC, Polygon, Avalanche C, Ethereum PoW, Moonbeam, Evmos, Fantom, and Doge Chain
  • Reward window: 8 weeks (no new stakers after 12 weeks)
  • Minimum XEN required: $100+ equivalent (using price oracle)
  • Rewards vesting: 10% on unlock, 90% vesting linearly over 365 days

Background

See [RFC-5] - Create XEN-Give and/or POP-Give function & expand onto other chains for original request for comment.

As at 24 October, XEN protocol received over 20 million transactions since launch 2 weeks ago

See the XEN Crypto dashboard for links to current chains XEN is listed on and transaction data.

Risks and questions

We do not know how many chains XEN Crypto will launch on.

  • Should PopcornDAO commit to launching the XEN-POP stake pools on all chains soon after XEN is deployed on each?

  • Or should PopcornDAO vote via snapshot for each one?

  • Should the token Give function be available for XEN and/or POP tokens?

Conclusion

XEN is rapidly increasing global crypto adoption and its values are closely aligned with PopcornDAO’s

Please share your comments and questions so we can fine tune the snapshot vote.

Let’s go! :rocket:

:rotating_light: POLL CLOSES FRI 28 OCT 1100 UTC :rotating_light:

  • YES - Launch on all chains XEN is on AND create token ‘Give’ function
  • NO - Don’t do this

0 voters

3 Likes
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I’m going to expand on the give function in another RFC. I think optimizing Popcorn in other philanthropic ways beyond donating a portion of fees is a good move.

XEN-POP to the MOON!

7 Likes
3

Devs are gonna be busy :sweat_smile:

4 Likes