Plenty Concludes its First PIP: The Minting Rate is Reduced
We are very happy to share that the first Plenty Improvement Proposal (PIP-001) turned out to be a great success! A big thank you to our beloved community! Over 350 xPLENTY holders voted, and with a support of 86% the minting rate has been reduced to 30 PLENTY per block.
PIP-001: Minting rate reduction
Plenty puts the community first, and with nearly half of the maximum supply minted, there have been plenty of requests to reduce the minting rate, in order to decrease the selling pressure. We have seen an engaged community with fruitful discussions on Twitter, Discord, and the Plenty forum. Based on these discussions, a minting rate reduction from 50 PLENTY/block to 30 PLENTY/block has been proposed in PIP-001. All xPLENTY holders could vote between December 15th until December 22nd, which resulted in 85,6% in favor of PIP-001, 12,5% against, and 1,9% abstained.
PIP-001 was implemented shortly after, and Plenty is currently minting at a rate of 30 PLENTY/block. We’re excited to see how this will work out!
Lessons learned
Communication has not been clear regarding which farms are continuing and which ones are closing permanently. The PLENTY/YOU farm has been closed since December 23rd. To claim pending rewards from closed farms, toggle the active/inactive switch on https://www.plentydefi.com/farms.
What’s next?
Well, that’s basically up to you! Anyone with thoughts on the future of Plenty’s versatile decentralized finance (DeFi) platform is welcome to participate in the discussions or start a conversation on one of our social media channels. The dev team will be happy to engage and pave the way for PIP-002 based on community input. Several topics can be thought of, such as new farms, different fee structures, or more integrations. As soon as we get towards something specific, the dev team will draft a PIP-002 and post it on our forum for a final round of discussions. We’re very much looking forward to the second round of governance, let the discussions begin!
Official links
Website: https://www.plentydefi.com/
Telegram: https://t.me/PlentyDeFi
Discord: https://discord.gg/9wZ4CuvkuJ
Twitter: https://twitter.com/plentydefi
