***Please note: $ALEX must be migrated and $atALEX migrated to $LiALEX in order to participate in governance voting***
Proposal to Utilize 100% of Protocol Revenue as an Additional Grant Distribution Toward Recovery Certificate Holders
Introduction:
The ALEX Lab Foundation understands our community wants greater transparency on asset recovery for the affected users, so is creating a dedicated portal ("Recovered Asset Portal", or "RAP"), where all users affected will be issued an on-chain Recovery Certificate, representing their rights to asset recovery, and can monitor the latest on the asset recovery efforts.
The Foundation would like to further propose the use of ALEX protocol revenue as an additional grant for the affected users.
Proposal:
This additional grant would apply to all the affected users (i.e. both opt-in and opt-out users with respect to the existing Treasury Grant Program).
This additional grant would work similar to the TGP with 100% of the protocol revenue going to these additional grants until all the unrecovered STX are fully substituted.
Users who opted in for the existing TGP can receive those protocol revenue by returning the $ALEX they received in the 10:1 ratio.
The distribution of the protocol revenue as additional grant is proposed to be made every quarter, with the first distribution happening on or around September 30, 2024, if this proposal is approved.
The Foundation will convert into STX the protocol revenue accrued up to the quarter end and make them available as additional grant for the affected users. The relevant announcement and information will be available through the RAP.
=> Vote with ALEX and LiALEX <=
As Ballot.gg does not support a voting strategy that involves two tokens (ALEX and LiALEX), two ballots have been created. If you have both tokens, vote with both.
When voting closes the results of both ballots will be merged to determine the final result.
The ALEX Lab Foundation holds ALEX and LiALEX positions in providing protocol liquidity and will abstain from the vote.