PGM-66: Grant Tholgar team

Paladin Governance Management (PGM)
1

TL-DR: Grant the Tholgar team

Context:

The Tholgar team has been contributing to the Paladin ecosystem for more than two years as of now. During this time, the team developed first a warlord autocompounder, and more recently have been contributing technically with Mithras Labs to the development and success of Trevee Protocol.

The Tholgar team has initially been contracted by Sonic and Mithras as part of a larger deal to build a portion of Trevee technical stack. This deal consisted of 3 deliverables :

  • Create the core contracts (voting escrow and voter)
  • Create an UI to interact with Veda and core contracts
  • Create an auto-voter to generate optimized yield on top of trevee’s veNFTs (remaining under Tholgar property/branding)

Aside from these 3 deliverables, Tholgar has contributed to numerous other technical aspects :

  • DefiLlama/OBL:
    • Regular update of DefiLlama adapters to account for TVL, fees, new strategies…
    • Creation of Dune queries for OBL integration for multiple products of the project
    • Provide assistance to Mithras for other queries related to OBL
  • V2 UI:
    • Implementation of the logic
    • Creation of indexers/subgraphs and APIs to display information in real time
    • Create of a unified router to handle deposits
    • Creation of an automated script to distribute gauges at the end of each epochs
  • Staking wrappers (wstkscUSD/wstkscETH):
    • Creation of the wrapper contract
    • Testing of the contract
    • Creation of the automated harvester/compounder
    • Creation of the API for APY computation
  • Points system:
    • Generic architecture for points redistribution
    • Referral system implementation
    • Integration of liquid tokens
    • Integration of staking tokens
    • Integration of locks
    • Custom integrations : Silo, Euler, Spectra, Pendle, Napier, Beefy, Royco, Auto-voter…
    • Assisting protocols for integration
    • Data validation
    • Distribution script
    • Maintenance of the system with rules changes throughout the season
  • Liquid Locker:
    • Design of the contracts
    • Implementation of the contracts
    • Testing of the contracts
    • Creation of automated scripts for votes, rewards harvesting, yield distribution, locks extends…
    • Integration in Trevee UI

Rationale:

The additional parts were not enclosed in any deal and were therefore never compensated, so it is for now the property of Tholgar team.

The goal of this proposal is to grant the Tholgar team and obtain in exchange the intellectual property of the additional technical stack.

This proposal is part of the merge between Rings and Paladin and would enable the DAO to have the complete ownership of all the products.

Regarding the grant, it would be composed of two parts :

  • 35,000 USDC for the staking wrapper, V2 UI, DefiLlama/OBL and the Liquid Locker, with the following schedule :
    • 8,750 USDC once this proposal is accepted
    • 8,750 USDC a month after the proposal is accepted
    • 8,750 USDC two months after the proposal is accepted
    • 8,750 USDC three months after the proposal is accepted
  • 70,000 USDC for the points system with two payments :
    • 35,000 USDC at the reception of Sonic season 1 GEMS
    • 35,000 USDC at the reception of Sonic season 2 GEMS, as long as the points system is maintained and integrations are added until the end the season 2

Means:

  • 35,000 USDC, paid over 4 months
  • 35,000 USDC, paid at reception of season 1 GEMS
  • 35,000 USDC, paid at the end of season 2 (~mid December 2025)

Voting Options:

Yes / No / Abstain

1 Like
2
  • For
  • Against
  • Rework
0 voters
3

Snapshot link: https://snapshot.box/#/s:pgm.palvote.eth/proposal/0xefa60baae863a5fdfc73c69acb95735368ea07928aebd8928afe92bee64b7c21

4

It seems absolutely insane to ask for 70k$ to dev a point system, especially when you have protocols like Stack.so creating specific infras for this, there was no need to design a custom one.

The 35k on Rings dev work part seems more reasonable, but wondering why you went from a grant request full token on your previous request to full cash, any reason to this ?

Voted rework on the poll but will vote against on snapshot since rework option isn’t there.

5

Hello @Dydymoon, thank you for your answer.

We did at the beginning considered top tier companies to handle the points distribution. They were however too expensive for the DAO/Core team. We ended up building a tailored system that is currently one of the more complex in the ecosystem. This allowed Trevee to onboard a lot of partners and be integrated in as many protocols as possible.

Regarding the transition to token to cash, the reason is relatively simple. The first proposal was a large amount only in token. This would have allowed us to lock it and benefit from the revenue sharing while not using funds from the DAO.
Some complaints were made about the potential issues with the voting power it would represent and the amount size compared to the supply.
In this new proposal, we lowered the amount, and preferred cash as a smaller amount would not be as profitable with revenue sharing as it was supposed to be. A proposal in cash is also possible now that the sonic gems are being collected.

Let me know if you have any other question

6

Hey,

To add some information, all of the funds requested by Tholgar should be covered by the gems allocation from Trevee earn (ex Rings) of the sonic airdrop. So it won’t drain the treasury.

7

Hello,

As per the last snapshot results, we are considering a new compensation format for this proposal.

The new format is the following :

  • 50,000 USDC paid over 4 months (12,500 USDC each month) after the proposal is accepted

This proposal includes the ownership transfer of the following products to the DAO :

  • Wrappers contracts (wstkscUSD, wstkscETH, wstkscBTC)

  • V2 UI codebase

  • The liquid locker (liquid layer on top of trevee earn locks)

This proposal also compensates for part of the already achieved work that was not paid before :

  • DefiLlama/OBL integrations

  • The points season 1 integrations and distribution

This new proposal format does not include further support or maintenance. Other service providers are free to perform maintenance/upgrade once the codebase is acquired.

1 Like