HIP-12 | Mainnet Migration and Economic Adjustment

[planetoid]

HIP-12 | Mainnet Migration and Economic Adjustment

Snapshot Time for the Vote:

First block after June 24, 23:59 UTC time.

Voting Period:

Voting starts: June 25, 00:00 UTC time
Voting ends: June 30, 23:59 UTC time

Voting Addresses:

YAY → HHxxxxYEAxPN12xxxxxxxxxxxxxxvGzhgS
NAY → HHxxxxNAYxPN12xxxxxxxxxxxxxy3DdPVE

Threshold for Approval:

• 65% approval rate

Summary of Proposal:

• Approval of APR Reduction Schedule
• Security Strategy Approval
• Exchange Coordination Strategy
• Node Update Compliance

Link to the Full Proposal:

Mainnet Migration and Economic Adjustment Strategy

Dear Hydra DAO Members, As we prepare for the highly anticipated launch of our new Hydra Mainnet, several vital steps are being proposed to ensure a smooth migration and to adjust our economy for the exciting events ahead. Economic Adjustments and APR Reduction The new Hydra mainnet introduces a completely redesigned economic framework focused on enabling high APR for vested positions while limiting unconditional inflation for unvested and short-term positions. To stimulate economic activit…

Voting Procedure:

1. 0.1 HYDRA sent to any of the two addresses above will credit your entire snapshot weight to the respective side.
2. Note that the last transaction counts, meaning that you can change your vote within the voting period.
3. Transactions above or below 0.1 HYDRA will not count.
4. The exponentiating formula will apply as usual

[planetoid]

Vote results were unanimous

YEA —> 100%
NAY —> 0%