PIP #1 - Fee Sharing

Fee sharing is an important development that will bring buy pressure to the token.

Fee sharing has already been promised for months and it will reward long term holders that accumulated vePTP and did not sell PTP protecting project liquidity and future. More than that it will increase token buy pressure and project valorization. Therefore there are only positive reasons to implement fee sharing as soon as possible.

How it would work?

In the Temperature Check post many derivations of this feature were disccuss, but for now the best option is to approve a fee sharing mechanism where 100% of fees go to vePTP holders. If holders think that affected users from the hack should be rewarded then they can propose a new consensus check to change the fee sharing mechanism. Others also suggested fee sharing to be implemented with USP, but for now it is also better to implement it without USP. Obviously this can change too in future consensus checks.

*Update from Platypus Team:
1.4m treasury is set aside for UPS compensation.

Next Steps
After Tempurature Check is approved a Consensus Check Proposal in snapshot will be published and voted. If the proposal is approved the team will need to implement the fee sharing algorithm and deploy it to production.

A side note from Platypus Team
When this proposal passed consensus check, Platypus Team will share the fee sharing arrangement plan with the community and work on the deployment. Once the fee sharing is deployed, we will distribute any newly generated surplus to the vePTP holders.

Temperature Check Link: Temperature Check - Should fee sharing be implemented as soon as possible?

Snapshot Link: Snapshot

1 Like

Hey @zerohedge, thanks for the proposal, I will forward it to the team and keep you update on the snapshot!

*Update on May 2nd, 9am UTC:
We will share the total fee amount after hack soon.

Snapshot vote was already created?

Not yet. We are currently calculating the accumulated fee, apart from the reserved fee of 1.4m. This would be one of the essential elements for the community to have in making decisions.

I see that the accumulated fee has already been calculated. What are the next steps? As this is the first proposal the community is a little bit in the dark.

Just created a snapshot for you!
Here is the URL: Snapshot