Voting Period
Starting April 3, 2023
Proposal #1
(Updated based on Check Stage results. See update below.)
Conditional Instant Unlock Function in the P-NFT Lockup Mechanism – This proposal is to upgrade the lockup mechanism for ISK distributed as P-NFT rewards.
Proposal
- Anyone can activate the ‘Instant Unlock’ feature after 18 months of staking P-NFT.
- After selecting the desired quantity and activating the ‘Instant Unlock’ function, 50% of the selected quantity will be burned and the remaining 50% will be unlocked immediately. For example, P-NFT received a total of 100 locked ISKs. If the user activates the ‘Instant Unlock’ function by selecting a quantity of 4 out of 100, 2 will be burned and 2 will be unlocked immediately. The remaining 96 remain locked.
- There is no limit on how many times you can use the ‘Instant Unlock’ feature, and you can wait until it unlocks automatically instead of using this feature.
Background
- As a node operating right and premium membership, P-NFT is a premium asset that guarantees the most rewards in the Iskra ecosystem. ISK tokens equivalent to 40% of max supply are distributed as P-NFT rewards, and numerous game asset rewards are guaranteed to Pioneers according to the high contribution point. For a more sustainable ecosystem building, P-NFT’s ISK reward has a lock-up mechanism linked to sales volume so that these enormous rewards can be aligned with the growth rate of the Iskra ecosystem.
- However, as the macro economy deteriorates, markets are depressed and uncertainties are growing. In this market environment, the lock-up mechanism of P-NFT acts as an uncertainty about compensation, becoming a hurdle for more people to purchase P-NFT. Accordingly, we propose to lower the uncertainty about compensation by upgrading the lockup mechanism of P-NFT.
Impact
- Pioneers will be free to choose their position against the market environment.
- Potential P-NFT buyers can become Pioneers more easily as the uncertainty of compensation is removed.
Proposal #2:
Using Locked ISK for Purchasing P-NFT – This is a proposal to give utility to the Locked ISK that is being distributed as P-NFT rewards.
Proposal
- We support the purchase of new P-NFTs with locked ISK distributed as P-NFT rewards.
- Even if you purchase with locked ISK, the same sales conditions, such as referrals, apply.
Background
- P-NFTs are both node operating rights and premium memberships, making them the most rewarding premium assets in the ecosystem. 40% of the max supply of ISK tokens will be distributed as P-NFT rewards, and a number of game asset rewards are guaranteed to Pioneers based on their high contribution points. To build a more sustainable ecosystem, the ISK rewards for P-NFTs will have a lock-up mechanism tied to sales volume to ensure that these massive rewards are in line with the growth rate of the Iskra ecosystem.
- However, it is regrettable that Pioneers cannot take advantage of this until the rewards are unlocked, despite receiving huge ISK rewards. Therefore, we propose to endow locked ISK with limited utility in a way that can relieve the boredom of Pioneers, but does not adversely affect the tokenomics.
Impact
- Pioneers will be free to choose their position against the market environment.
- ISK collected as payment before the 10,000th P-NFT sale is locked up for 6 months and then used for project operation.
- ISK collected as payment after the 10,000th P-NFT sale is staked by Iskra and permanently locked up.
Learn more about governance voting here and how to participate in the voting using Snapshot here.
Update as of March 31, 2023
We’re pleased to announce that we’ve received a lot of feedback on Discord regarding the two proposals we’ve released and have updated them. As a reminder, the Check Stage will start on April 3, 2023 (00:00 UTC).
The purpose of the Check Stage is to gather feedback and refine the first version of the two proposals we released before they are forwarded to the Proposal Stage.
Please note that the two proposals subject of the Check Stage are not the final versions yet, and #Iskra KOLs reserve the right to modify them. For the two proposals we’ve released, they will be modified as follows:
Proposal 1: The trigger condition for the P-NFT instant unlock feature may be adjusted from 18 months to 12 months after staking. The period to be determined will be selected by Iskra KOLs at the Check Stage, and other periods may be proposed.
Proposal 2: Change the lock-up period of locked ISK from P-NFT sales from 6 months to 24 months. Iskra KOLs may also propose a different period at the Check Stage. If you have questions or concerns, please don’t hesitate to reach out to us at bit.ly/3C3EQtK.
Update as of April 7, 2023
Proposal #1
Conditional Instant Unlock Function in the P-NFT Lockup Mechanism – This proposal is to upgrade the lockup mechanism for ISK distributed as P-NFT rewards.
Proposal
- Anyone can activate the ‘Instant Unlock’ feature after 18 months of staking P-NFT.
-
After selecting the desired quantity and activating the ‘Instant Unlock’ function, 50% of the selected quantity will be burned and the remaining 50% will be unlocked immediately. For example, P-NFT received a total of 100 locked ISKs. If the user activates the ‘Instant Unlock’ function by selecting a quantity of 4 out of 100, 2 will be burned and 2 will be unlocked immediately. The remaining 96 remain locked.
-
There is no limit on how many times you can use the ‘Instant Unlock’ feature, and you can wait until it unlocks automatically instead of using this feature.
Background
- As a node operating right and premium membership, P-NFT is a premium asset that guarantees the most rewards in the Iskra ecosystem. ISK tokens equivalent to 40% of max supply are distributed as P-NFT rewards, and numerous game asset rewards are guaranteed to Pioneers according to the high contribution point. For a more sustainable ecosystem building, P-NFT’s ISK reward has a lock-up mechanism linked to sales volume so that these enormous rewards can be aligned with the growth rate of the Iskra ecosystem.
-
However, as the macro economy deteriorates, markets are depressed and uncertainties are growing. In this market environment, the lock-up mechanism of P-NFT acts as an uncertainty about compensation, becoming a hurdle for more people to purchase P-NFT. Accordingly, we propose to lower the uncertainty about compensation by upgrading the lockup mechanism of P-NFT.
Impact
- Pioneers will be free to choose their position against the market environment.
-
Potential P-NFT buyers can become Pioneers more easily as the uncertainty of compensation is removed.
About Iskra
Iskra is a single-destination Web3 game platform for developers and players that rewards them for their contribution and participation through a unique community system on the blockchain. This allows stakeholders to take a major part in building the platform for future growth.
Current services include a wallet, DEX, marketplace, NFT Mission Card (daily reward), governance staking and voting, and soon-to-launch Web3 casual and hyper-casual games.
Backed by some of the biggest technology and video game companies in South Korea, Iskra ranks in the top categories for gaming in Dapp Radar for unique active wallets per day and engagement.
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