As we embark on a transformative journey with the Open Custody Protocol, establishing and rigorously testing our new framework is imperative. This pivotal moment marks our transition from QPIPs to our newly minted OIPs (OCP Improvement Proposals).
We are excited to invite you to participate in our first-ever OIP-0 community governance vote. While we are keen to offer rewards for your engagement, we prioritize fairness—especially since some members are currently unable to access their assets on an exchange. We are committed to initiating incentivized voting with OIP-1 as soon as these challenges are addressed.
For now, in our upcoming OIP-0 vote, we will be voting for the potential reward of 1M OPEN for participants in OIP-1. Proposed voting period from Monday 6th of May to Wednesday 8th of May.
Looking forward, we are preparing to introduce staking options. It’s essential that our ecosystem is fully transitioned to OPEN to support everyone’s participation without disadvantaging any member. In recognition of your patience, we plan to significantly increase staking rewards, offering even more substantial rewards for longer lockup periods.
We eagerly look forward to your participation in this crucial phase of our development. Your involvement is not only valuable—it’s fundamental to shaping the future of our community.
That’s great news and look forward to participating however kucoin still hasn’t fully transitioned as I still have QREDO tokens in my wallet. Hope this is done in time for OIP
As seems to be said in the propposal, there won’t be any incentives before the funds are back into people’s pockets.
Kucoin’s delay sucks but at the same time, it gives the OPEN team an opportunity to show that they are fair about it and that they are willing to wait until the issue is resolved.
Previously we connected snapshots from the Qredo wallet. Will we now be able to do from any web3 wallet via wallet connect? Thx for the clarity on exactly how to vote will be good to put that instruction out again for new participants
I’m also looking forward to participating in this and future proposals. I’m hoping I can use my web 3 wallet for Open Custody Protocol activities moving forward.
1.Have all your OPEN assets in a web3 wallet deposited by 10 am UTC, Monday May 6th.
2.Web3 wallet could be MetaMask or any DeFi wallet with WalletConnect capability.
3.Connect your wallet when the voting window gets open and cast your vote.
Note: I didn’t see any requirements that you would need to connect the wallet prior voting, but I would recommect you do it anyway.
Once you select the choice(s) and confirm your vote, a new window will pop up and open your wallet extension in the browser. You will be then asked to sign a message which doesn’t create any gas fees (voting is free of charge) or affect your holdings. Signing the message is the last step of casting a vote. That’s it!
