Summary
Grant Mithras Labs 2,500,000 PAL in TREVEE tokens over 2 years, starting at TGE, to continue building Trevee Earn and future products under the Trevee umbrella.
Context
With Paladin transitioning into Trevee, the DAO is entering a new phase of decentralization and contributor expansion. Grants have been proposed for both Tholgar and Veda to reflect this shift. Mithras Labs, the founding team behind Paladin/Trevee, is also requesting a new grant to ensure long-term alignment alongside these new contributors.
Rationale
Over the past 4 years, Mithras Labs has built and maintained:
- Paladin Lending
- Boost, Pledge
- Quest v1/v2
- Warlord
- Valkyrie (ongoing)
- Rings / Trevee Earn (ongoing)
Mithras Labs was previously awarded 7,500,000 PAL in a 3-year vesting schedule, which has now ended. Some contributors have moved on, and others have risen up to the occasion, which begs the question on how to align them. This new grant ensures that Mithras Labs remains aligned with the DAO’s long-term vision, especially as it transitions from operator to contributor status.
Notably, unlike previous grants:
- The entire grant will be staked in a perma-lock contract
- No tokens will be allocated to individual contributors
- Rewards will be used exclusively to incentivize active contributors via performance-based bonuses
This removes potential selling pressure and mitigates the risk of misaligned, inactive stakeholders. Additionally, Mithras Labs will use excess revenue to buyback TREVEE and build a position of up to 10% of the total TREVEE supply.
Grant Details
- Amount: 2,500,000 PAL (to be converted to TREVEE at TGE)
- Distribution: Vested over 2 years, beginning at TGE
- Staking: All tokens locked in a non-withdrawable contract
- Reward Use: Yield distributed as contributor bonuses, based on performance reviews managed by Mithras Labs
Voting Options
For / Against / Abstain
- For
- Against
- Abstain