Swarm Network Policy for Issuance Staking
This ballot is to define a first version of a Swarm Network Policy for Issuance Staking.
One of the key participants of the Swarm Network are those that use the Platform to issue digital securities. It is therefore in the Swarm network’s interest to create mechanisms, by which these beneficiaries of the network become vested and interested parties in it.
To support the Swarm Network and show commitment to the Swarm Platform, issuers of tokens on Swarm are required to stake an amount of SWM tokens against the value they tokenize on it. This has to happen, before the Platform triggers the minting and distribution of the corresponding SRC20 tokens. The staking requirement applies to all uses of the Swarm infrastructure, independent of whether the tokens are used for fundraising, existing assets, or even utility tokens. Staked tokens are ‘locked’ until the corresponding SRC20 tokens are no longer exist. They are unlocked whenever outstanding SRC20 tokens are redeemed and burned - up to the full staked amount. The material requirements of this policy are further described https://docs.swarm.fund/SwarmNetworkPolicy-IssuanceStaking.pdf
Currently, the SWM staking value is determined via smart contract at the moment when the SRC20 tokens are issued. These stakes are held in a wallet controlled by the token issuer and will be released when the SRC20 tokens are burned/redeemed. We suggest to include in this ballot, to permit the Swarm Council to change this “snapshot model” to a “watermark” model, where depending on the changing values of SWM and the SRC20’s Net Asset Values, the staking value can be continuously recalculated, which would then allow the token issuer adjust the staking amount accordingly on an ongoing basis.
Voting “yes” means supporting the Swarm Network Policy for Issuance Staking.
Voting “no” means not supporting the Swarm Network Policy for Issuance Staking.
The quorum is 21,356,402.44 SWM, equivalent to 25% of the SWM tokens in circulation when launching the ballot.
Vote here: https://voting.swarm.fund/
Discussion of this ballot should proceed below.