PIP-7: Reward GRAINS to All Paloma OG & TestNest Egg Minters

Governance
1

PIP Name: PIP#7 - Reward GRAINS to All Paloma OG & TestNest Egg Minters

Status: Proposed

Author(s): @LARRY

Type: Community Pool Spend

Discussions-to: PIP-7: Reward GRAINS to All Paloma OG & TestNest Egg Minters

Created: 10/27/2022

Simple Summary

Reward Testnet GRAINS to all who minted cross chain Paloma eggs.

Abstract

A community spend of 1,000,000 testnet GRAINS is requested to reward all Paloma addresses that ran the egg minting contract.

Motivation

With over 200 cross chain eggs minted on Ethereum from Cosmos, the Paloma community continues to seek for more incentives for their efforts in interacting with the Paloma testnet.

Being the first to test and trust in Paloma’s cross chain capabilities, the community should be incentivized with testnet GRAINS.

Specification Overview

Collection

The proposed community spend will be limited to the following collections on OpenSea:

GRAINS Breakdown

1,000,000 GRAINS will be distributed equally among all unique addresses that ran the Paloma egg minting contract for both OG Paloma Egg Hunt & Paloma TestNest Egg Hunt collections.

Technical Specification

This will require a governance proposal for spending community funds after the addresses have been collected.

How to submit the proposal

palomad tx gov submit-proposal community-pool-spend <path/to/proposal.json> --from=<key_or_address>

with the proposal.json:


{
  "title": "Community Pool Spend",
  "description": "Grain awards for Paloma egg holders",
  "recipient": "<paloma address 1>" ,
  "amount": "XXXugrain",
	"recipient": "<paloma address 2>" ,
  "amount": "XXXugrain",
	...
  "deposit": "1000ugrain"
}

How to Vote on the Proposal

palomad tx gov vote 3 yes \
--chain-id paloma-testnet-12 \
--from <Your Paloma Address> \
--fees 400ugrain \
-b block
-y

Rationale

By incentivizing cross chain Egg holders with testnet GRAINS, the community will continue to realize the value of interacting with the Paloma chain in its current testnet state. Once the flock flies mainnet, those already involved will be the first to actualize the potential of Paloma’s cross chain messaging capabilities.

About Paloma

Paloma Protocol is a Cosmos-SDK blockchain protocol custom-built for omnichain communication that allows permissionless controls of any contract on any chain. Built by Volume, Paloma delivers the world’s first intelligently scheduled and automated smart contract transaction execution for the Cosmos ecosystem. The protocol enables developers to remotely control the transmission of value without the need to wrap, bridge tokens, or trust validators with their digital assets. Led by founding members of Sommelier, Paloma is building the primary communication layer of Web3.

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