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Mint mining reward from bridge (2nd try) - motion #66
5mos ago
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Tabled

This is the 2nd try of motion #63. It was not executed because there was no vote.

According to the announcement of Gemini launch, we should transfer 226,800,000 PHA to Khala for the first year mining reward. We should move the token from the reservation on Ethereum to the bridge, and release the same amount from the bridge on Khala to the reward pool. Typically this can be done with a single bridge transfer. However it's not the case this time.

When Khala was launched, we have established a imbalanced bridge -- instead of minting the full 1B PHA on Khala, we only minted the amount that will be used on Khala. Specifically, among the 70% mining reward, only 1% was minted on Khala since the other 69% was not supposed to be used there. It was done for better security. However, now we are going to charge the mining reward pool with the PHA in the remaining of the reservation on Ethereum. So we need to mint the corresponding token to balance the bridge.

This motion mint 226,800,000 PHA to a temporary account, and immediately transfer all of them to the mining reward pool account.

Edited
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Hash
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TimelineLatest activity 5mos ago
2022-04-16 05:45:30
externalProposeMajority
proposalHash
0xaf78b97c4d3bd726411dac3e3aa04e1a075459993760e87478b927e7dde627ce
2022-04-16 05:46:30
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delay
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