ATH Incentive Vote

governance
1

To provide long term stability for the Governance Token, Athens staking percentage is going to be reduced from 50% to 25% for the staking rewards that will be issued after November 26, 2023 However, in addition to this staking percentage change, StormX would like to provide rewards to users and participants of/in the StormX ecosystem. As such StormX is considering allocating around 10,000 Athens (ATH) tokens to be issued to users according to one of three possible criteria as follows:

  1. 9,991.00 ATH to be issued to users who have voted on past Athens Governance Proposals. 48.50 ATH tokens will be allocated for every vote that has been cast for each of the four proposals that have been voted on previously. There has been a total of 206 votes cast across the four proposals to date.

  2. 4,995.50 ATH to be issued to users who have voted on past Athens Governance Proposals. 24.25 ATH tokens will be allocated for every vote that has been cast for each of the four proposals that have been voted on previously. There has been a total of 206 votes cast across the four proposals to date. In addition to this, 5,000 ATH will be allocated to the first 1,000 users who sign up for the sports app, connect a wallet and participate in a pool. The first 1,000 users who complete these three steps will be issued 5 ATH tokens.

  3. 10,000 ATH will be allocated to the first 2,000 users who sign up for the sports app, connect a wallet and participate in a pool. The first 2,000 users who complete these three steps will be issued 5 ATH tokens.

Two components of a successful governance token are participation and a broad collection of potential participants and voices to be able to express preferences. These three options are opportunities to reward users who have participated and to broaden the range of potential voices to participate in future Athens Governance proposals. However due to the uncertainty of how the governance community would prefer to see these rewards issued it would be best to present these three choices as a governance vote.

I am looking to start a dialogue on Discourse for the next few days and, based upon that dialogue potentially modify the three options, if necessary. On November 10, 2023 at 16:00 UTC, the vote will go active on SnapShot and I will also host the first of two governance calls in the Discord. The second governance call will be held in the Discord on November 17, 2023, and the closing of the voting will end on November 24, 2023 at 16:00 UTC

2

Does ATH mean anything. Can it be converted to STMX or BTC?

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3

ATH is the governance token for the StormX ecosystem. There is Uniswap liquidity for ATH-ETH and ATH-STMX pairs and it is traded on BitMart. It is meant to be used to vote on governance proposals for StormX. We’ve voted on 4 proposals to date and will be voting on more proposals in the future.

4

Hello! Where does ATH voting take place? Thanks!

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We do our voting on Snapshot. You can join, then connect your wallet and it’ll read how much ATH you have in your wallet when you make a vote. The link for our Snapshot page is: Snapshot

6

Thanks very much! I’ll keep an eye out for the next vote.

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7

Is there a place where I can see how many proposals I voted on previously?

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8

Yes, you can access the voting platform, Snapshot via this link: Snapshot

Once you connect your wallet you should be able to see how many proposals you voted on previously with your ATH.

9

Perspective on ATH Token Utility and Allocation

Firstly, I believe the fundamental utility of the Athens token is to facilitate decision-making within our ecosystem. The essence of ATH is governance - to empower users to actively participate in the shaping of our project’s path forward. It is in this spirit that I support rewarding users who have exercised their voice in past governance proposals.

Concerns Over Incentives for Sports App Sign-ups

While I understand the intention to increase engagement with the upcoming sports app, I am concerned that allocating ATH tokens as a sign-up incentive may dilute the token’s primary purpose. Those who are signing up for the sports app might have little interest in governance and could potentially disengage after obtaining the reward, which may lead to immediate sell-offs for STMX or ETH or discarded ATH tokens in abandoned wallets. This not only diverges from ATH’s intended purpose but could also adversely affect the token’s stability.

Aligning Rewards with User Intent

Aligning rewards with user intent is crucial. Therefore, I propose that if we aim to incentivize engagement with the sports app, it would be more coherent to offer STMX tokens instead of ATH. Users attracted to the sports app are likely more interested in the betting aspect, which is more closely associated with STMX. This would ensure that the incentives are appealing to the user base we are targeting and would preserve the ATH tokens for their primary purpose of governance.

In light of this, I am tentatively amenable to option 2, provided that the ATH token rewards for the sports app sign-ups are replaced with an equivalent amount of STMX. This switch would align the incentives with the interests and activities of the sports app users, while keeping ATH focused on governance participation.

Preference for Rewarding Past Governance Participation

Considering the importance of maintaining the governance integrity of the ATH token, my current preference leans towards option 1, as it directly rewards past participation in governance proposals. This not only respects the original intent of ATH but also encourages our community members to continue to be active and engaged in decision-making processes.

Broader Vision for ATH in the StormX Ecosystem

I am open to discussion about how ATH might play a role in the broader StormX ecosystem. However, it is crucial to clearly define how far-reaching this vision is. If we consider rewarding users for various interactions within the ecosystem, such as referrals or leaderboard standings, we must ask ourselves whether these actions align with the governance nature of ATH. While users can withdraw shopping rewards in ATH, the diversity in withdrawal options is a strength of StormX that we should maintain.

Proposal Adjustment and Open Dialogue

Before our governance calls and this proposal vote, I encourage a robust dialogue on this subject. If there is a consensus that rewards should indeed span across all ecosystem activities, I would urge us to think about parameters and intentions behind such a move (If we are rewarding Athens tokens, why do we choose that? How closely does the action being rewarded resemble and contribute to governance?). If people believe we do not need this kind of restriction on ATH rewards, fair enough but for now, my stance is to uphold the governance integrity of the ATH token by supporting option 1.

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10

Ok my turn!

First thing, im okay with the reduction of staking rewards for ath from 50 to 25%

Second, having some sort of one time bonus is okay, but id like to dive into my criticism of incentivizing stormx bettong users with ath governance tokens.

I hope this following statement makes a big aha! Moment happen

We should Incentivize the betting users with stormx tokens that we VOTED FOR.

We raised the supply by a whopping 10% in the first year. Meaning 1 billion stormx tokens. This is at 5 million dollars worth at 0.005$ per token.

We want to give away 10k athens which at 1.5$ per token is 15 thousand dollar airdrop.

To do the same with stromx tokens it would take 3 million tokens (less because the price ia actually above 0.005, and ath is below 1.5).

We would be giving away tokens meant for governance, to users doing non governance stuff, and airdroping 1% of the supply.

If we paid stormx tokens, we would be goving away 0.3% of the yearly increase - which was designed to be for communtiy realted things. Not only is it 0.3%, but its 0.024% if the total supply (assuming 12.5b tokens)

It makes no sense at all to uae athens tokens that are designes for governance, to reward a stomx ecosystem thing. While they are inextricably linked, i dont believe athens tokens holders should be essentialy diluted (via circulating increase) when we have had a sipply increase designed for these things with the storm token. Its actually quite perplexing.

11

Hey Peter, did you see that the vote is active now? Link is here: Snapshot

12

Thank you very much!