Goanna Staking Proposal

With governance looming, we’ve seen many within our social channels make the difficult choice Goanna or Governance???? Well we think you deserve both. We need Goanna owners to help decide the future of the project and we are going to follow the Algorand Governance model to reward you for contributing to the future of the Al Goanna Project. We are calling this Goanna Governance (to be reffered to as Go-Go)

  • If you own a Goanna you will be able to participate in community decision making (Goanna Governance) and be rewarded for doing so.
  • You will be required to lock up or “stake” your Goanna for the full Goanna Governance period.
  • Staking your Goanna/s will see an amount equal to 70% of the primary purchase price included within our governance pool.
  • You will be required to participate in all vote/s to determine the future of the project and the potential formation of a DAO.
  • The Goanna Governance lock up will be for the 3 month period Oct/Nov/Dec
  • At the conclusion of the governance period, rewards will be paid in Algos to owners who have staked their Goannas in accordance with the rules.
  • The Goanna Governance rewards will be pegged to a % that is equal to that offered by the Algorand Foundation.

 

All Goannas that are released up until the start of the official Algorand Governance period will be eligible to staked. To participate you will be required to visit the Lizard Lounge and formally opt in to stake your Goanna. You retain possession and full ownership of the Goanna and it remains in your personal wallet. You cannot sell or trade your Goanna and it must not be moved from the wallet that it is held in once you have opted into staking.

In addition to staking your Goanna for the full Governance period, you will also be required to take part in a formal voting process. Voting will be conducted on a range of issues and will form the basis for the development of the Goanna DAO (Decentralised Autonomous Organisation.)

Voting will be based on One vote for each Goanna staked.

The Goanna Governance reward will be pegged to the % that is offered by the Algorand Governance model for the Oct/Nov/Dec quarter. 70% of the value of the Goanna’s primary sale price will be the amount staked.

If you purchased your Goanna on the secondary market you will still be eligible to take part, however your staking contribution will be based on the amount it was originally sold for in the primary sale.

You will be free to opt out at any stage but by doing so will forfeit your right to claim staking rewards. Your forfeited reward will then be distributed amongst the remaining Governors.

More details will be released and owners will be advised how to register for staking in the next few weeks. This proposal may be revised and subject to change depending on community feedback prior to being implemented.