PIP-20: Foundation Request to Release 1MM GRAINS for PalomaSwap Airdrop

PIP Name: PIP 20 - Foundation Request to Release 1MM GRAINS for PalomaSwap Airdrop

Status: Proposed

Author(s): @LARRY

Type: Signalling Vote

Discussions-to: PIP-20: Foundation Request to Release 1MM GRAINS for PalomaSwap Airdrop

Created: 02/23/2023

Simple Summary

We ask the Paloma Foundation to release 1,000,000 GRAINs from the Community Pool and Ecosystem fund for PalomaSwap users to claim as an incentive for swapping in their cross chain DEX of choice. This vote is for the Paloma Community validators to approve the release of the Mainnet GRAINs into the contract for PalomaSwap users.

Abstract

Paloma’s mainnet “Hatchling Mainnet” spread its wings with 2 weeks uptime. It’s now time to test the first DApps for cross-chain communications. Paloma’s https://www.palomaswap.com/ will allow users to schedule their trades on any **DEX on any target chain supported by the Paloma network. We ask the Paloma Foundation to release 1,000,000 GRAINs for PalomaSwap rewards so that users will have an incentive to use PalomaSwap and also receive GRAINs to pay for scheduled trades on BNB, Polygon, and Ethereum chains. These GRAINs are to be rewarded to all users who swap using Paloma Mainnet’s pioneer dApp. This vote is for the Paloma Community validators to approve the release of the Mainnet GRAINs into the contract for PalomaSwap users.

Motivation

The Paloma Foundation’s mandate is to support the stakeholders continue success to build and maintain the Paloma network. PalomaSwap users will be among the very first users of Paloma Chain’s pioneer dApp, which showcases the chain’s cross chain messaging capabilities. The Paloma Foundation needs the community to approve of this to incentivize PalomaSwap users.

Specification Overview

This is signal vote is from the validator community to approve the release 1,000,000 GRAINS from the Paloma Community Fund to a Paloma contract deployed to Mainnet that will allow users to claim their GRAINs earned from using PalomaSwap.

Technical Specification

The Coswmwasm contract for claiming grains is available on Paloma’s Github here: https://github.com/palomachain/paloma-rs/pull/59

Rationale

Community building is crucial to a successful Paloma Mainnet.

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