In this announcement, we’ll be introducing a community governance vote on the next NFT collection pool to be added on the P2P NFT lending protocol.
Here’s what you need to know:
- We’re holding a governance vote to choose the next NFT collection pool to be added on the P2P NFT lending protocol.
- The vote opens on October 26 at 14:00 UTC and concludes on November 2 at 14:00 UTC. It will require 600,000 votes or more to take effect.
- The vote will be open to those that have a stake in Kyoko, including $KYOKO token holders, stakers, and LP providers. Voting weight will be assigned according to the following order: LP providers, $KYOKO stakers, $KYOKO holders.
- Join the forum discussion: Kyoko DC⇒Governance⇒Thread
- Vote: Snapshot
We’re excited to announce that our P2P NFT lending protocol will soon launch a new blue chip NFT collection pool. We want to hear your input on which collection should be selected for this release.
In our first P2P NFT lending protocol governance vote, $KYOKO holders and stakers will have the chance to cast their vote for which of the following collections should have a liquidity pool added. This vote will use a ranked choice system, which will allow users to select and rank as many collections as they’d like to cast ballots for. Only the top collection with the most number of votes will be selected.
Eligible blue-chip NFT collections:
Bored Ape Yacht Club (BAYC)
Votes will be allocated according to $KYOKO, $veKYOKO, and $sKYOKOLP token holdings. Users who have staked liquidity to the Kyoko SP will receive the highest voting weight, $KYOKO token stakers will receive the second highest, and $KYOKO token holders will have a 1:1 weight, in which 1 $KYOKO token equals 1 vote. Keep in mind that, while esers can still stake $KYOKO tokens via Kyoko’s Vault staking page, staking rewards have been fully consumed. The benefits associated with staking now lie solely in protocol governance.
Vote totals will be calculated automatically once a user’s wallet is connected to the voting platform. Users are allowed to vote multiple times through multiple wallets if their Kyoko assets are spread across different wallets and there is no maximum individual quantity of votes.
Before casting your vote, we’ve set up an area in the official Kyoko Discord for back-and-forth discussion within the community. Join the forum discussion: Kyoko DC⇒Governance⇒🗣︱discussion⇒Thread. The thread will be open through the end of the governance vote on November 2.
If you need a quick refresher on our P2P NFT lending protocol, read our recent launch announcement here: Kyoko Launches P2P NFT Lending Protocol Mainnet!
We know this is an important decision, Kyokoans. Should you have any questions about the vote or P2P NFT lending protocol in general, feel free to reach out to the Community Managers in the official Kyoko Discord.
Kyoko addresses the most challenging issues in Web3. Kyoko’s cross-chain asset lending platform solves the persistent issues limiting the GameFi market, including the rising cost of entry and siloed in-game assets across different blockchains. Kyoko’s P2P NFT lending platform expands inclusivity and access to liquidity for NFT projects and holders through its decentralized fixed-rate NFT lending protocol. The $KYOKO token launched in April 2022.
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