UPDATED PROPOSAL GOING LIVE!!!
Thank you guys for wonderful feedback and productive discussion. The original proposal will go forward, with the following adjustments:
Spend Request: 5,568,011 ARCH ($750k at current price)
Note that this is less ARCH than it would’ve been when we started the discussion, and than if we used 30 or 90 day moving averages. We don’t care. We’re grateful for the increased price action, and in general are using this primarily to distribute AXV and signal trust and alignment.
Validator Cap: 3.5%
We will voluntarily begin delegating away from our validator to make sure we remain under 3.5% of voting power, even though our votes will largely be overpowered by Astrovault governance. This number was verbally noted and agreed upon by Phi Labs members in the Governance call, though long term we will all aim to have a robust enough validator set to move to 3% or less each.
Giving Control of Airdrop to Archway Foundation
There was some concern and feedback about ensuring that the airdrop is done fairly. In this vein, we are choosing, should this prop pass, to allow the Archway Foundation to determine the airdrop wallets and weights, to ensure any optics of Astrovault bias is removed. Our hope and intention is for as much of the AXV as possible to make it to the end users as fairly as possible, to encourage activation on-chain, and decentralization of governance power in and through Astrovault.
Thank you guys for productive engagement! We look forward to continue serving the Archway community to the best of our abilities, and remain always available for comment or conversation!