[PIP-5] Proposal vote: XEN-POP stake pool

This proposal vote follows discussions on Telegram/Discord/Popcorn forum to create a XEN-POP stake pool.

Please see initial request for comment (RFC) for background and comments.

Head straight to the bottom and cast your poll vote! :inbox_tray:

UPDATE ON XEN CRYPTO LAUNCH

XEN Crypto launched today 8 Oct.
Over 217,000 users (addresses) have interacted with the protocol in just 16 hours. Many of these addresses will be owned by single people using a multi-wallet strategy, so it is not possible to know how many individuals have interacted with the protocol.

Users have spent over $1m in gas fees in this time (825 ETH), arguably giving the project a market cap of $1m and likely to grow - however price action will be volatile for some time.

Users also selected 3 distinct mint terms:

  • 1-30 days (24%) - likely single day terms with tokens to be traded on DEXs as early as tomorrow
  • 90-120 days (19%) - maximum mint term for first 5,000 users
  • 330+ days (26%) for others interacting after first 5,000 users.

PROPOSAL

As XEN token price will be volatile for some time, Popcorn should create a XEN-POP stake pool to provide a short/medium term price signal, reward early adopters and to attract new POP holders to grow PopcornDAO.

Assumptions over first 100 days:

  • 215,000: new XEN users/addresses per day
  • 12,567,731,974,591: XEN minted
  • $10m: market cap
  • $0.0000008/$USD: XEN token price
  • 125,677,319.75: Minimum amount of XEN tokens to stake $POP equivalent of $100.
  • X% APY (TBC)
  • XEN holders may need to buy additional XEN tokens to make minimum staking requirement.

Tokenomics

  • Stake minimum qty XEN (12 week lock)
  • Receive POP rewards (10% on unlock, 90% vesting linearly over 365 days)
  • Restake POP rewards and receive vlPOP
  • Cast snapshot votes over a defined 100-day period
  • POP airdrop to all snapshot voters over the campaign period.

This proposal therefore benefits ALL vlPOP holders who participate in governance of PopcornDAO and use their vlPOP to vote via snapshot - not just XEN-POP stakers.

POLL

  • Yes - Allocate $POP (qty TBC) and set up XEN-POP stake pool
  • Yes - Allocate $POP (qty TBC) and set up XEN-POP stake pool PLUS 5,000 $POP for vlPOP airdrop
  • No

0 voters

Please comment with any questions or suggestions. We can incorporate feedback into the snapshot question if the proposal proceeds there.

Thank you

6 Likes

Update end of day 10 Oct

  • 535k users (addresses) have interacted / minted
  • $3m gas spent by users
  • Top token by unique senders (last 24 hrs)
  • 2nd top token by transaction count (last 24 hrs)
  • Announcement that XEN will launch next on Polygon and BSC. This will further increase adoption.

In summary: XEN is taking off
Let’s give the XEN token some POP utility :popcorn:

1 Like

Advice from core - do we need minimum vote count before going to snapshot? @krychek

Did you put a time limit on the poll? That’s how you end the poll after 3 days.

1 Like

I’m wondering if the best way to price XEN would be to take a snapshot of the traded price right before we create the pool? 125M XEN atm is roughly $18K so we would have to wait for the price to come down considerably, which I imagine can happen fast. However, I think minimum stake equivalent to $100 1 day prior to launching the stake pool might be easier to manage.

建议空投的地址需要超过一定数量的xen,以排除那些投机的羊毛党,不是xen真正的爱好者,就不会对社区做出贡献,快照的时间至少要100天之后

Agree. We can refer to this in the snapshot wording.

Translation: “It is suggested that the address of the airdrop needs to exceed a certain amount of xen, in order to exclude those speculative wool parties, who are not true fans of xen, will not contribute to the community, and the snapshot time should be at least 100 days later”

Reply:

你好 Jiuwanli
谢谢你的建议。我们可以询问社区他们的想法

Translation: hi jiuwanli we can ask the community for their views