[Proposal] [Concluded] Create Community owned treasury for donations and grant benefits to donors

I’m proposing to create a community owned treasury for managing community donations.

Why
As many of you know there was no Presale, Premine or anything similar. Thats why we’re faced with the problem to support the project financially. There are certain initiatives that require capital. The latest example was the Solidity finance audit (Kangal Token Audit - Solidity Finance) which the core team has paid from their own pocket.

Moving forward there will be more activities with regards to marketing, ecosystem, partnerships, technical development, product development, design and many more that require funds.

Whats the benefit of donating?
I propose a set of benefits to donors:

Exclusive NFT
At some point there should be an NFT that is unique and distributed to the donors wallets only. There won’t be any other version to this special NFT. The number of minted tokens must equal the number of unique donor wallets.

Exclusive $heep staking
Donor wallets secure the right to stake $heep prior to opening the staking contract to the public. This pre-staking of $heep will only last for a limited time. The early reward however will be designed so that the early stakers are rewarded with a multiple/boost compared to the regular staking afterwards.

You can think of this as follows (example):

  • Donor wallets can stake exclusively for 30 days (duration to be determined)
  • In the first 30 days there will be a 2.5x staking boost (boost to be determined)
  • On day 31 the contract will open to any Kangal holders (again day to be determined)

Its important to point a few things out:

  1. There won’t be a presale. This is a community effort we’re not selling anything, we are creators by the community for the community.
  2. We are not making decisions. We are just serving the community and proposing certain things. Eventually the community decides and needs to vote.

Although its desired that most of these resulting actions happen on-chain I suggest we speed up a few things in this case. If the community agrees, lets create a single Snapshot proposal that captures all the below:

Should we create a Snapshot proposal for a community treasury wallet?
  • yes
  • no

0 voters

Should $25k of the community treasury wallet be used to partner with important companies?
  • yes
  • no

0 voters

Should wallets that donate up until the $25k threshold be added to a list for future rewards (e.g. NFT, staking boost etc.)?
  • yes
  • no

0 voters

1 Like

Sounds good. About exclusive staking, yeah there could be a special staking contract for those wallets and timeframe, and we could make it time-limited, then replace it with the one that’s open to all holders.

1 Like

would there be a min donation quota then, for rewards?

2 Likes

Yes, but I think it should be some ranges rather than a single quota.

1 Like

sure to encourage higher contributions

Looks like we are done with the motion and ready to create the proposals on snapshot spaces, will submit the resolution proposal below:

[Resolution-1] Creation of Community Treasury, Committing to Granting Benefits to Donors and Allowance of Treasury Usage to the Core Team for Community Benefit

Summary

The result of this vote may give executive power to the Core Team on the creation of Community Treasury, bind the Core Team to commit to creating further plans related to granting benefits to donors before a threshold (for example: giving exclusive APR when staking Kangal for utility token, for the donor wallets who donated before $25K threshold), and give executive power to Core Team on Treasury Usage for usages that benefit the Community & Project.

Voting

This proposal will be created on both (ETH) and (BSC) spaces. The result will be finalized by tallying up the votes on both sides.

Voting will take place between 18 March and 20 March.

To be able to vote, participants should be holding Kangal in their wallets since the snapshot block number of the proposal.

Voting power is directly related to the Kangal balance of a wallet, 1 KANGAL/bKANGAL equals to 1 vote.

Options

Option 1: Allow Core Team to create a Treasury Wallet, bind Core Team to work on grants/benefits for early donors related to upcoming projects, give executive power to Core Team on Treasury Usage for usages that benefit the Community & Project

Option 2: Allow Core Team to create a Treasury Wallet, bind Core Team to work on grants/benefits for early donors related to upcoming projects, do not give executive power to the Core team (require every action to go through motion and resolution phases)

Option 3: Allow Core Team to create a Treasury Wallet, do not bind Core Team to work on grants/benefits, do not give executive power to the Core team (require every action to go through motion and resolution phases)

Option 4: Reject creation of the Treasury Wallet

Proposal on ETH Space:
https://snapshot.org/#/kangal.eth/proposal/QmNrPeNpuQy74MXq6XqdfLgtpBZT8AETnwHrAQaWwcWQyH

Proposal on BSC Space:
https://snapshot.org/#/kangal-bsc.eth/proposal/QmWqYCpNYqSoJBwqh5kkdNUG2d6kVYxQfhCo1vs7cF6bNR

1 Like

Results are in!

Option 2 got to most votes with 419.76M on ETH side and 7.95M on BSC side.

Results of the resolution will take place immediately. CFD section will also be updated on docs.kangaltoken.com.

The wallet that was has been in use for Kangal expenses (solidity.finance payment for the contract audit was made from this wallet) will be turned into a Treasury wallet, which already includes 1 ETH on Ethereum mainnet. The same wallet address will be also used BSC side.

Treasury wallet address:
0x1C1433cB0995338F5aF5F4312B553f95D10d0c24

Please send only ERC20 or BEP20 type of tokens here.

Our first goal will be getting $25K for the exchange listing. There will be another proposal to vote on the approval of the usage of the funds for this goal.