This governance proposal aims to improve the tokenomics of SYMMIO in light of a shift in our launch strategy. Initially, the plan was to ensure Symmio achieved a certain daily volume milestone alongside launching the token on a centralized exchange (CEX). However, due to the platform's ongoing improvements taking longer than anticipated, coupled with the community's eagerness and favorable market conditions, we propose accelerating the launch timeline.
Launching immediately presents challenges, primarily the need to provide liquidity on a decentralized exchange (DEX) . A key question arises: Where should this liquidity come from?
This proposal aims to solve these challenges by:
Based on community feedback, we present five options for consideration.
This proposal presents five options for the SYMM token vesting and Token Generation Event (TGE) structure, each designed to address specific community concerns and project objectives. The options range from maintaining the existing 12-month vesting schedule to introducing an immediate token launch with full unlock and no vesting, as well as the option to have improved vesting mechanics with early unlocks. We also propose 2 options for an immediate launch with staking & vesting contract developments deferred for after the token launch. We provide an overview of the motivation, specifications, rationale, and potential impacts of each option to facilitate an informed decision by the community.
We propose to focus on the core structure of the SYMM token vesting and early unlock options, deferring details like incentives, fee distribution, and liquidity pool (LP) mechanics to be finalized later. The key options for the community to vote on are:
Detailed Specifications can be found in the subpages on the left.
Maintain the Current Plan: Keep everything as is with a 12-month vesting period. Develop single staking, LP staking and vesting contracts audit them, then launch.
Extend the Vesting Period: Increase the vesting period beyond 12 to XX months, keeping all other aspects unchanged. Develop single staking, LP staking and vesting contracts audit them, then launch.
Modified Vesting with Early Unlock Option: Keep vesting at 12 months but allow for early token unlock with a penalty (percentage to be determined) and incentivize LP participation to unlock early. Develop a modified vesting schedule with an early unlock option, as well as POL distribution & staking audit it, and make it accessible to the community, then introduce a yearly 1.875% inflation rate (16,500,000 $SYMM, taken from liquidity incentives) to incentivize LPs (could be an UNI-v2 or UNI-v3 pool) via developed staking contracts to provide liquidity, until voted else, then launch.
Work on single-staking after launch.