Core contributor of PathDAO
We propose to bring $PATH tokens to the Polygon chain, alongside the current chain, Ethereum. The low-fee nature of Polygon will allow $PATH tokens to be given more utilities in the future. Note that all committed tokens will remain on the mainnet (Ethereum)
Currently, $PATH tokens act as the governance token of PathDAO. $PATH token holders can
1. Single-sided stake
2. Provide $Path liquidity for reward
3. Vote and govern the future of PathDAO
As we build out the PathDAO ecosystem (Ventures, Guild, Social Platform, Insights and Fintech), we are planning for more $PATH utilities. The high gas fee on the Ethereum chain is not optimal.
Some of the utilities in discussion (to be finalised) for $PATH tokens upon bridging to Polygon include:
- Initial NFT Offering
- Path fintech service access
- Co-investment in early stage deals
We evaluated multiple L2 chains ranging from fees, security to ease of implementation, and have decided to opt for Polygon as the next blockchain after Ethereum for $PATH.
Note that all tokens committed in the past (community, staking, LP farming etc.) will stay on the mainnet (ethereum). This proposal is to provide the core team with the options to allow for future claims and $PATH token utilities on Polygon.
• In favor (Yes)
• Against (No)
$PATH tokens on a lower gas blockchain (Polygon) will unlock more utilities for $PATH tokens in the future, and encourage smaller holders to own $PATH
No cost required
PIP-5 will proceed in the following manner:
- This proposal will be open for discussion until 7th March 4am EST
- After the discussion concluded and any possible adjustments have been made, the proposal will be up for voting on Snapshot. This link will be provided in due course
- The snapshot voting will last for 72 hours after it goes live
- After the voting concludes and if the proposal is accepted by the token holders, the proposal will be executed