Abstract
This proposal aims to foster community consensus for the revision of the Community Distribution II & III, proposing to update them to the following:
Community Distribution I: 400,000 INCR before end of April 2023 (Completed)
Community Distribution II: 500,000 INCR before end of April 2024 (Incomplete)
Community Distribution III: 1,500,000 INCR before end of April 2025 (Incomplete)
Proposal details
The INCR governance tokens provide community members with the ability to enhance existing protocol parameters, establish new markets, and more. Therefore, it is crucial to ensure that the distribution of governance tokens is targeted towards individuals who contribute significantly, creating a positive impact, and whose values closely align with the Increment ecosystem.
However, unforeseen external factors leading to delays in deploying the Increment protocol on zkSync Era have resulted in a reduced availability of data to identify these individuals.
At the time of writing, the anticipated deployment of the Increment protocol and the forthcoming onchain governance proposal to launch the initial market are expected in the coming days. However, the limited timeframe from now to the end of April poses a challenge in determining the appropriate allocation for the initially designated distribution amount of 1,000,000 INCR in Community Distribution II, scheduled for the end of April 2024.
Thus, the goal of this proposal is to solve the issue described above by updating the community distribution phases from the original:
Community Distribution I: 400,000 INCR before end of April 2023 (Completed)
Community Distribution II: 1,000,000 INCR before end of April 2024 (Incomplete)
Community Distribution III: 1,000,000 INCR before end of April 2025 (Incomplete)
And revising it to the following:
Community Distribution I: 400,000 INCR before end of April 2023 (Completed)
Community Distribution II: 500,000 INCR before end of April 2024 (Incomplete)
Community Distribution III: 1,500,000 INCR before end of April 2025 (Incomplete)
In summary, the main change described above is to reduce Community Distribution II by half, from 1,000,000 to 500,000 INCR, due to the reduced usage data availability and short time frame, and add the remaining half to Community Distribution III.
To contextualize this update within the comprehensive scope of the entire INCR token proposal, please refer to this spreadsheet.
Effect and Impact Analysis
Percentage of total token supply owned by the community continues to stay above 50% during all time frames. After updating the community distribution phases, the community continues to hold the majority of tokens, see column Q in the spreadsheet.
Community Distribution II, amounting to 500,000 INCR, remains scheduled to be distributed by the end of April 2024. Once the protocol is deployed, more precise data and metrics will become available, enabling a more precise determination of the allocation for the INCR tokens.
Copyright
Copyright and related rights waived via CC0.
Poll vote: Closes on March 1
- Let’s make this update!
- No, don’t do it
lets lift off. cant wait anymore.