Lattice Gateway Community Update:
New Proposals for voting and Treasury Staking rewards!
Hello Lattice Gateway community,
We have two exciting new proposals up for voting and the monthly Treasury Staking details for October.
Below is a brief summary of each proposal and of the distributed Treasury Staking rewards.
[LIP #18] 2024-Q4-A03 Operating Validator Nodes on Constellation Testnet.
After discussions with Constellation’s Node and Protocol teams, the Lattice DAO has been granted three validator spots on Constellation’s Testnet. This proposal seeks community approval for the Lattice DAO to operate these Testnet validator nodes, which will contribute to testing new Constellation Network features. Operating these nodes also supports the growth of the Lattice Gateway ecosystem, with rewards allocated to cover node expenses, compensate operators, and benefit $veLTX holders.
Proposed Reward Allocation in order of distribution:
1. Validator Node Expenses — Costs deducted first from node rewards.
2. 20% — Distributed to the Node Operator.
3. 80% — Split between the Lattice DAO treasury (70%) and $veLTX holders (30%).
Benefits of this proposal:
- Supports Constellation’s growth, strengthening Lattice Gateway’s role within the ecosystem.
- No additional treasury expenses since rewards fund the validator node operations.
- Expanding the source of income for both Lattice DAO treasury and $veLTX holders
Read the full proposal here: https://commonwealth.im/lattice-gateway/discussion/25436-lip-18-2024q4a03-operating-validator-nodes-on-the-constellation-testnet
Voting duration: From November 28, 2024 at 16:00 UTC to December 5, 2024 at 16:00 UTC
[LIP #11.1.1] 2024-Q4-A04 Change of Distribution Schedule.
This proposal addresses the need for a more sustainable and efficient schedule for distributing rewards from Constellation Network treasury staking. Due to the high administrative effort and small monthly reward amounts, maintaining monthly distributions has become unfeasible. LIP #11.1.1 introduces two revised distribution options to solve the above stated issue.
Key voting options:
Option 1: Quarterly Rewards Distribution
- Rewards accumulate and distribute to $veLTX holders every quarter (three months).
- Reduces the administrative burden of monthly distributions and ensures larger payouts.
Option 2: Threshold-Based Monthly Distribution
- Rewards are distributed at the end of the month only if total rewards reach a minimum threshold of 150,000 $DAG.
- If this threshold is not met, rewards roll over to the next month until the minimum is reached.
Benefits of this proposal:
- Sustainable rewards management that ensures more meaningful returns for $veLTX holders.
- Efficient administration and reduced workload for the Lattice Gateway team.
Read the full proposal here: https://commonwealth.im/lattice-gateway/discussion/25601-lip-1111-2024q4a04-change-of-distribution-schedule
Voting duration: From November 28, 2024 at 16:00 UTC to December 5, 2024 at 16:00 UTC
Treasury Staking and node rewards update for October
Our three IntegrationNet nodes generated a total of 45,194.30 $DAG in October 2024.
After deducting the VPS costs, 40,595.75 $DAG remain for the further distribution.
From above generated rewards 8,119.15 $DAG were distributed to node operators, 9,742.98 $DAG were distributed to veLTX holders and 22,733.62 $DAG were transferred to the Lattice Gateway Treasury.
Additional details about VPS costs, node operator reimbursement, generated rewards and more can be found in the following Google sheet: Here
Get involved and cast your vote!
Your input is essential in shaping the direction of Lattice Gateway. Take time to review these proposals and make your voice heard!
Join the Lattice Gateway Telegram for further information and discussion.
