Proposal Details

Proposal #262

Passed

Proposal title

Proposal A: Burn 136M EVMOS from the Usage Incentives Pool

Submit time

Deposit end time

Voting start time

Voting end time

Tally result

84.18%

Proposal #262 description

Author

Federico Kunze Küllmer (@fekunze), Evmos Founder

Summary

After discussion with the community on Commonwealth, we are putting the decision on burning the remaining balance of the incentives pool (

) to vote.

Context

Following up the discussion for proposal #258, the decision was made to split implementing the on-going token burning logic from the handling of the usage incentives pool, which were originally supposed to be brought on chain at the same time. As a follow-up, the team together with the validator community has decided to bring forward two proposals for how to proceed with the pool balance of ~136M EVMOS: Burn them or transfer them to the community pool. This proposal is concerned with the former option.

Proposed Solution

Burn the ~136M EVMOS in the user incentives balance in the next upgrade (v16) by removing them from circulation.

Pros

  • Tokens haven’t been used effectively for their initial purpose and therefore we don’t need to keep them in the total supply.
  • Burning the tokens would decrease the total and circulating supply, thus making the project significantly more attractive for onboarding new users.
  • It creates a positive narrative by burning such a large amount of unused tokens from the total supply.
  • The community pool already has ~100M EVMOS tokens to allocate for incentives and other initiatives. Developer teams have already preferred to use the Community Pool to request funds for their corresponding incentives programs (eg. UniDexForgeTashi, etc).

Cons

  • Burning the tokens would miss the opportunity to reuse the tokens in different ways that could be more effective in the long term (liquidity incentives, grants, etc).
  • Tokens are not currently “in circulation” even though they are included in the circulating supply.
  • The concern is that burning the tokens would reduce the community-governed tokens (Community Pool + Usage Incentives Pool).
  • The burned amount would increase the ratio (%) of tokens owned by the Evmos Foundation (Strategic and Team Allocations) compared to the total supply.

Voting Options

This is one of two proposals, which are put to vote to decide on the matter laid out on Commonwealth. The resolution of both proposals will happen as follows:

  • If only one of the two proposals passes, that proposal will be automatically selected for the next upgrade.
  • If both proposals pass, the one with the largest voting power (i.e. votes) will be selected and the other one will be discarded.
  • If none of the proposals pass, a new discussion process will need to be initiated with the community to decide the future of the Incentives Pool tokens. Note that since prop #258 has already been approved, the pool won’t keep accumulating new tokens from inflation.

Proposal #262 overview

Total votes
6,125
Voters
6,094
Total deposit
6,088 EVMOS

Proposal #262 votes

#

Validator

Account Address

Options
1NodeStakeYes
20% Fee | NodeOf CosmonautsYes
3TessellatedYes
4Bro_n_BroYes
5blockscapeYes
6CosmosPug 🍒Yes
7ValidatusYes
8MaxxrootYes
9StakecitoYes
10Dora FactoryAbstain
11Crypto Lion 🦁Yes
12Forza 💥Yes
13Chill ValidationYes
14LMECriptoYes
15SpaceStakeYes
16Chorus OneAbstain
17EZ StakingYes
18SecorDYes
19Let's Node!Yes
20Let's Node | Expandingspace.ioYes
21[Beehive]Yes
22HashKey CloudAbstain
23#decentralizehk - DHK daoYes
24DOUBLETOPYes
25Swiss StakingNo
26KalpaTechAbstain
27CoverletYes
28stake.systemsYes
29Lavender.Five Nodes 🐝Yes
30ArcticYes
3101nodeYes
32CosmostationYes
33✅ CryptoCrew - 100% MEV revenue to Evmos stakers! #IBCgang #REstakeYes
34binary_holdingsYes
35Stake&Relax 🦥Yes
36Ztake.orgYes
37Smart Stake 📈📊Yes
38danku_zone w/ DAICYes
39TC NetworkYes
40redelegate_pleaseYes
41AlphabetYes
42BitNordicYes
43w3coinsNo
44Regenerator | Green Validator 🌱Yes
45Citadel.oneYes
46ImpulseYes
47Hanchon.liveYes
48Stakely.ioAbstain
49InteropYes
50BlockHunters 🎯Yes
51Jerry's PoolYes
520base.vcYes
53GATA DAOYes
54MeriaYes
55Informal SystemsYes
56Citizen Web3Yes
57silentYes
58Upnode | 0% FeeYes
59ECO Stake 🌱Yes
60Validatrium.comYes
61Tedcrypto.io 🧸 | TedLottoYes
62pro-nodes75Yes
63P2P ValidatorNo
64Active NodesYes
65Frens (🤝,🤝)Yes
66DragonStake 🐲Yes
67openbitlabYes
68AutoStake 🛡️ Slash ProtectedYes
69KleomedesAbstain
70StakeTownYes
71StakinYes
72WitvalYes
73KingSuperYes
74windpowerstakeYes
75🔥STAVR🔥 REStake ON✅Yes
76MandragoraYes
77Antrix ValidatorsYes
78sleepykittenNo
79kingnodes 👑Yes
80CryptoDungeonNo
81anode ☄️Yes
82Imperator.coAbstain
83Kalia NetworkYes
84DisperzeYes
85RHINO | 10% to WildlifeNo
86NosNode🔮No
87GalaxyStaking.space 🌑Yes
88MZONDERYes
89Oni ⛩️Yes
90ValidaviaYes
91AlphaNodes🛸Yes
92Cosmos CatsYes
93InterblocNo
94CosmoshieldNo
95LiveRaveNYes
96Legion NodesYes
97QubelabsYes
98Architect NodesYes
99alkadetaYes
100AM Solutions 🪐Abstain

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