Authored by: @bozz
Two items on the agenda for this @lbi-gov post. The first has to do with setting a hard cap for the LBI token. @silverstackeruk has noted that the volume of people converting Leo tokens to LBI tokens has significantly decreased. It appears the majority of LBI token movement is happening through direct buys on the secondary market like hive-engine and Leodex. In light of this, The LBI team is proposing a hard cap of 275,000 tokens.
The total number of LBI tokens currently minted is 250,000. To date, 220,005 LBI have been issued directly from @lbi-token. On hard capping, 20% of the supply will be reserved for content creators based on this post. This would give a LBI token hard cap of ~275,005 (depending on buys between now and implementation). @silverstakeruk is considering burning five LBI tokens to establish a hard cap at 275,000.
Voting will open once this post is published. As this is not a proposal vote, the window will stay open for one week versus two. Voting will close April 4th and then votes will be counted.
If you agree to have the LBI token hard capped at 275,000 with the five additional tokens being burned please type YES in a comment on this post.
If you would like to keep LBI at the current spot with no cap type NO in a comment on this post.
Please be sure to use the account that you are holding your LBI in so that we can accurately tally the votes. It would be very helpful to us if you included the number of LBI you hold in your comment so we can accurately calculate your upvote value based on the table below:
1/ 10-99 LBIs will earn a vote equal to 1
2/ 100-499 LBIs will earn a vote equal to 2
3/ 500-2,499 LBIs will earn a vote equal to 3
4/ 2,500-9,999 LBIs will earn a vote equal to 4
The second item on the agenda is the fact that the @lbi-gov team is now actively accepting proposals for the first vote that will be taken at the end of May. @sliverstackeruk laid out the guidelines very clearly in this post.
Please note the six sections that the LBI Governance team will expect each post to have. Each of these sections should be clearly identifiable using bold or header formatting. Please be as clear and specific as possible in your post. This is you pitching your proposal. Additionally, please ensure that you use the tags #may21lbigovproposal and #lbigov
Proposals will be accepted until May 7th. Through the week of May 10th to the 14th all proposals collected will be put to a popular vote. The top five proposals will be formally presented on May 17th and for the next two weeks voting will be open. The top two voted proposals from that two week window will be passed.
As you can see, the window for proposals is fairly long. After the May vote, it will be a full six months as was originally established. Please keep this in mind if your proposal concerns something that is time sensitive.
Proposals are Due May 7th
Proposals must include all six sections as established in this post
Proposals must use the tags: #may21lbigovproposal and #lbigov
English is preferred for proposals but not mandatory. If posting in another language, please use a translator.
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