Metal X
Individuals who hold XPR tokens will be able to use them to vote for various decisions for the Metal X platform. In this way, the users of Metal X can use their XPR tokens to steer the direction of the protocol, shape it to meet their needs and exercise community control over the protocol.
Who can submit a proposal?
In the Metal X community, the cost to publish a proposal is 100,000 XPR.
Excluded accounts
The following accounts will not participate in voting:
xprtreasury - The account of the XPR Network Foundation
xprgrants - The account of the XPR Network Grants
Metallicus company related accounts such as metalpayroll, metalfinance, metallicus, metallicusmm
The scope of proposals
The scope of proposals for the XPR Network includes aspects related to protocol changes and Metal X coin listings. Proposals that are in scope are listed below.
What is not in scope
Making substantial changes to the structural aspects of a smart contract typically necessitates the development of an entirely new version, requiring a fresh audit and related procedures. Therefore, it is important to note that smart contract changes are currently beyond the scope of our intended modifications.
Smart contract additions are also not in scope.
New Metal X token listings
Proposals can be submitted to vote on whether to add new a new proposed token to the Metal X platform.
Any tokens being considered for inclusion will undergo a compliance and technical review conducted by Metallicus.
Metallicus reserves the right to decline to list a token based on considerations of legality, financial viability, and technical integration requirements.
As a general rule, tokens must already have decent volumes and other exchange listings, a live product, decentralization, and utility demonstrated, among other factors.
New Swap pair
Proposals can be submitted to vote on whether to add new a new farm to the Swap. And to include a pool and farm.
Any tokens being considered for inclusion will undergo a compliance and technical review conducted by Metallicus.
Metallicus reserves the right to decline to list a token based on considerations of legality, financial viability, and technical integration requirements.
As a general rule, tokens must already have decent volumes and other exchange listings, a live product, decentralization, and utility demonstrated, among other factors.
It's important to note that if a farm is proposed and passes to add XPR as a reward, it would alter the emission rate of XPR and an additional BP vote is required, as outlined in the XPR Network community.
Proposal guidelines
In general, it is advisable to limit proposals to a single item rather than presenting a comprehensive list of requests all at once. For instance, when submitting a token for listing consideration, it is recommended to focus on a single token instead of providing a multitude of options. By adhering to this approach, the proposal can maintain clarity and effectiveness.
In addition, please make sure to specify whether the proposal is to list on Metal X or Swap, this should be individualized.
For example, list XPR Network (XPR) on Metal X. Or list XPR Network (XPR) on Swap, add a pool, and farm.
Please note that proposals that do not adhere to the provided guidelines may be declined. In the event of a proposal being declined, the listing fee will be refunded.
When proposing a token for listing consideration, it is important to include the following information:
Include the ticket and name of the asset in the title of the proposal
Token Name: Clearly state the name of the token you are proposing for listing.
Token Symbol: Provide the ticker symbol or abbreviation used to represent the token.
Liquidity cost: To optimize the trading experience and ensure sufficient liquidity, an allocation of cost is necessary. This liquidity cost will be allocated to provide a seamless and efficient trading experience. This liquidity will be funded from the XPR grant pool.
For the exchange, $40,000 worth of liquidity would be required.
As for the Swap and farm functionalities, $10,000 worth of liquidity in XPR would be needed.
If you wish to propose alternative rewards such as LOAN rewards, kindly direct your proposal to the LOAN community. Such a decision would require a vote from LOAN holders.
Including these details will help provide a concise and focused proposal for listing consideration.
Token listing example for Metal X Title: Add XPR Network (XPR) to Metal X
Proposal: To add XPR Network (XPR) to Metal X
Token name: XPR Network
Token Ticker: XPR
Liquidity Cost: $40,000 worth of XPR. This liquidity will be funded from the XPR grant pool through the sale of XPR tokens.
Token listing example for Pool and Farm Title: Add XPR Network (XPR) - Hedera (HBAR) to Swap with a pool and farm
Proposal: To add XPR Network (XPR) - Hedera (HBAR) as a pool and farm
Token names: XPR Network and Hedara
Token Ticker: XPR and HBAR
Farm Rewards: $10,000 worth of XPR annually. These rewards will come from the grants pool.
Voting strategy deployed for the Metal X community
To be eligible to vote, users must have a balance of XPR tokens and/or staked XPR tokens. Each XPR token and staked XPR token counts as one vote. For example: if you have 23.44 XPR and 44.87 staked XPR, your total vote power would be 68.31 votes.
Quorum
Quorum voting sets a minimum threshold of voters required for a proposal to pass, such as a 60% quorum where 60% of voting power must vote. If the quorum is reached, the decision with the most votes wins. Proposals fail if the quorum threshold is not met.
In the Metal X community, the quorum is set to 15%.
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