Governance Proposal: Retrieve 6m PNG From On-Chain Treasury
Last year’s governance vote set aside funds to help cover Pangolin’s operating expenses. These funds are reserved for times of need.
With the current market conditions, we are proposing that 6m PNG be transferred to our operating treasury to help cover expenses related to:
- Contract audits
- Legal counsel
- Core contributors
- Community contributors
- Engineer contractors
- Market makers
Where do these funds come from?
The community treasury funds are only accessible by PNG governance votes. The PNG that lives in this treasury comes from two sources.
- Unclaimed PNG airdrop tokens
- Last year’s on-chain governance vote to assist in funding PNG operations
We originally pulled funds from this treasury to cover expenses for 3 months. Through financial prudence, we were able to extend the life of those funds to 5 months. Now we are requesting more to help alleviate some expenses we foresee in the upcoming months.
Why should we use these funds?
Our priority for the rest of 2022 is ensuring we have the capability to continue building and expanding Pangolin’s offerings. We will use the funds to cover expenses related to building, auditing, and properly launching our multichain expansion. This will, in turn, bring more revenue to Pangolin in terms of fees, grant funding, and potential venture capital.
🗳️ Voting starts in 24 hrs. Your PNG must be in your wallet
🗳️ Vote will last 48 hrs
🗳️ If passed, the funds will transfer 72hrs later