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