[Final] OIP-0 Rewards for OIP-1 [test]

Dear OPs,

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.

The OCP Team



It’s great that we have our first OPIP.

I agree that keeping an incentive for the upcoming OPIP-1 is essential for the stakeholders’s participation.

I will vote yes for this propposal and I’m looking forward to casting my first OPIP vote.

Have a great day fellow holders !


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.


Great news. Excited to see the staking site and the available options for yield


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


Great start.
Excited to see the beginning of many good things to come.

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How can i vote for OPIP
Please clarify on it


I moved my Qredo out of there platform to my matamask still showing as Qredo will I still be able to vote on open protocols

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.

I’m pretty sure that they can use this option as it would be the least confusing option.

Can someone please post here any instructions to be ready for voting? Like which wallet needs the tokens vs not - is there any video / guide?

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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.

Hey Laz, Iron here and I have a nice holding and would like to become part of the community. I am in need of some guidance, first time. Not to tech.

As mentioned earlier but others it would be good to have the exact procedure to prepare for voting. Thanks

Join us the official telegram !!

Hello Marco !!

See my answer to @Ribeye for the Voting Instructions :slight_smile:

Cheers !!

From Luis Vaello himself :slight_smile:
Voting Instructions:

You need to connect to Snapshot with your wallet and fulfil the requirements defined by the voting strategies used by a specific space.

In Open Custody Protocol case, this is holding OPEN tokens in your wallet.

Tokens which were acquired or deposited in the wallet after the proposal has been create are not taken into account for the voting power calculation.

If you are eligible to vote, you can cast your vote directly from the proposal’s page.


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!

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what if I got all QREDO staked in the Vault?

Thanks for the intructions, but i have my OPEN tokens on my bitget account since the migration. what should i do?