Please choose one of the following 2 options. This method will be used for all future Catalyst rewards, unless and until this vote is replaced with a new, superseding vote.
distribute 75% of ADA rewards from catalyst voting to the wallets that voted in the prior onchain vote selecting which catalyst proposals Minswap would support, by whatever technical means Minswap Labs sees fit. Give 25% to Minswap labs to a) cover expenses of distributing the rewards and/or b) to distribute to individual community members that worked on the process of vetting proposals. It is up to the discretion of Labs how to split their 25%.
give all rewards to the DAO as protocol owned liquidity
- Yes, put this vote ON CHAIN
- No, stop annoying us with this stupid topic, didn’t we already vote once
Speaking here on behalf of Minswap Labs:
While we have not fully discussed the details, in case the Option 1 is chosen, around 25% of the funds would be shared between Minswap Labs and the group of volunteers that worked on the List. The rest would be directed towards the DAO Treasury.
Also, a missing detail, the amount of ADA earned for the vote is 45,598 ADA.
What does that mean? The whole point of #1 is to distribute to people who voted in the prior governance vote. And option TWO says to give to the DAO, so are you saying even if #1 is picked it goes to the DAO???
My bad, I misunderstood this. In this case, 25% will be directed towards Minswap Labs and the volunteers and the remaining will be given to those who voted with their MIN in the Catalyst vote.
The proposal mentions how the funds will be dispersed “By whatever technical means Minswap Labs sees fit,” but it doesn’t mention how the ADA will be divided (equally per voting wallet, equally per voting MIN, etc.) I assume it would be by MIN that was used for voting…?
on chain vote is better, no?
This is just the chance for discussion/adjustments before the vote is officially put on chain. If it isn’t put on chain, then nothing will happen. If you want this to happen, then vote yes.
This is my first time doing* this, so pardon if this sounds basic.
I want find a way to vote for the 2nd option, if I try to vote in automatically chose option 1.
I like option 2 more, Minswap protocol having more liquidity is beneficial to all governance token holder because it is good for the protocol health, we have to think long term here.
I really do think option 1 is not that great. To me it seems like a waste of funds; to send back all those ada each time is gonna be expansive and on the detriment of the protocol. Staking is already good enaugh that voting is only spare change. Let’s not be greedy for spare change, it’s just a drop in the bucket for individuals but is gonna be super expansive to the protocol. Very bad option IMHO and I am sad we have to vote on this.
Given how many people voted, and how many wallets you can send to in one transaction, all of the rewards can be distributed in fewer than 10 send transactions… so I’m not sure what you think will be so expensive about it.
They have to actually pay someone for that task, it is not just the cost of transactions. And all this just to return drops in the bucket value. Minswap is making me more than 1 ADA per day and I vote like once in a few months for 0.17 ADA. I say let the protocol have this money and use the salary for the feature development stuff. Wanting that 0.17 ADA back for such price is silly.