Setup a conditional whitelisting process (which can be temporary) to access the new tokenomics emissions.
Paladin is reshaping its tokenomics & several proposals were already published:
- PIP-14: Tokenomics 2.0: Approved the global design idea
- PIP-16: Emission Budget: Approved a max spending (15,6% of PAL supply) over 3y
- PIP-17: Boosting System: Approved x5 initial boost for hPAL lockers on LOOT yield
The goal is to attract more lockers & enable them to redirect extra emissions to whitelisted Quests. However the PAL liquidity is limited, which can be a blocker for projects interested in large buys.
This post ideas were suggested in PIP-16 comments but another proposal was requested.
The post proposes a conditional whitelisting system to enable projects to drive emissions to their Quests. This condition can be temporary & update by the DAO later.
Also, a PAL budget dedicated to OTC deals has been proposed in this PGM.
A whitelisting process was already planned in the initial tokenomics to whitelist eligible Quests, so this post aims to add a condition of an amount of PAL locked for the proposal to be valid. This condition can be removed by the DAO later if the bootstrapping phase was successful.
The current design is a great way to align voters, but projects incentivizing Quests can benefit from the system without necessarily having “skin in the game”, as they will be able to bribe voters to attract extra emissions.
Requiring an amount of locked hPAL doesn’t remove this option, but it can slightly impact the amount of bribes available for external voters as projects would potentially create their own flywheel by voting on their Quests to recycle bribes & receive LOOT (useful to increase their emission power).
This would also require interested projects to dig into the new tokenomics before getting involved in Paladin governance by submitting the WL proposal, sharing their intention to be an active player & their locker address.
The amount should remain marginal for most projects in order to not create a huge blocker, soI propose from 5K$ to 10K$ in PAL using a 1 week TWAP price. This amount currently represents from 50K to 100K PAL locked at least 1 year.
Another condition of minimum bribe commitment could also be added, as projects would be able to recycle it, please share your thoughts in the comments to potentially add it.
Whitelisting proposals are expected to be posted in PIR - Paladin Integration Request (an update of the framework to include these in the PIR scope will follow if approved).
The current framework can be found here.
- Basics: Category, Name, Number, Summary + Project presentation
- Rationale + Condition(s): Debank link of locked position
- Means, Voting Option & Poll
Current PIR parameters: 3 days voting, 10% quorum
- Align interests between Paladin & External projects
- Create PAL buying pressure to enter the Tokenomics
- Increase the locked hPAL supply
- Easily demonstrate flywheel effect to projects creating Quests
- Can block projects from entering if they consider the entry cost too high
- Can reduce bribes available for external voters as projects could vote for themselves
Update governance framework to include Quest whitelisting in PIR
- Yes, Conditional WL
- No, Rework proposal
- Yes, Implement the conditional WL
- No, Rework proposal