QSR = 290,000 to launch a pillar. So to manually give away a pillar would take 12 approvals. From what I read the vested pillar program was intended to be an embedded contract.
Establishing vesting requirements would be pretty easy:
Uptime % (Some min threshold)
Liveliness (voting on AZs)
Voting Power (# of delegators & total delegation)
Pillars could receive all the emission rewards initially. There could be a lockout period to prevent disassembling the pillar. Then the ZNN could vest based on the criteria above over some period of time.
For this first chapter, we decided to start integrating acknowledged Validator teams, having the most experience managing networks of nodes.
The vested Pillar contract will contain a locked amount of 15,000ZNN. The Validators can unlock the coins in 4 stages (25% per stage) by reaching a preset voting power.
From another medium article looks like the Vested Pillar funds were included in the Zenon Fabric → AZ Fund.
We’ll be asking a high net worth individual to take a big risk on their reputation, operate infrastructure, and participate in governance, in exchange for what, exactly?
$30k node
QSR burnt
15k of ZNN, subject to pillars vote
$10k of current liquid value
What is the narrative we are going to present in order to inspire them?
What is the answer to their first question, “What is btc interop?”
Let’s say they yolo and take the green pill, happens when they agree to promote Zenon and then get blowback from their followers and peers, who are liable to ask, “What is Bitcoin interop?”
Stop the BTC ethos non sense. Zenon isn’t BTC and it was never meant to be. This is a marketing narrative and shouldn’t impact rational strategic decision making process.
Who said BTC interop’ was the selling point for them? It could be low mcap L1 let’s bet on it. It could be anything. We’ve been hearing BTC since ages but I know 0 traders or investors who actually solely bet on FA. Especially in a bear market. Ironically, who else got a vested pillar is most likely to work.
My suggestion would be to try and find a way of creating a partnership with Hourglass $WAIT, they are relatively new project aiming to take Web3 mainstream and have a billionaire (Jeff Mahoney) backing them. Importantly they can get things done, quickly. They are the project behind The Next Crypto Gem TV show, it wasn’t to my taste but it illustrates that they are a serious project. They approached some of the most influential names in crypto and got them on the show.
The TV show is just the tip of the iceberg, they are announcing new deals and incubating new projects all the time, they’ve signed deals with an asset management group in Singapore, formed a VC fund and are about to make a Web3 movie with a budget 40x of the TV show.
I think this would be a good way for us to get exposure, Jett Tang (@ultrastarter on X) is their leader and he is open to collabs. They are going to announce their staking app on a Layer 1 soon, so we may have missed the boat there but I believe they will become a blue chip project and it might be worth brainstorming some ideas so we can build a relationship with them.
Why not put a pitch book together and sell it to VCs to back a team to help deliver Phase I?
We would offer them x# of vested pillars that would vest upon delivering Phase I. We could establish the deliveries. And phases to get them. Maybe they get AZ too.
The VC would fund the team and have a split with them to retain pillars and AZ funds. That would be between the VC and team. We have such an amazing foundation and network design. We need to deliver Phase I. I suspect engaging a VC and team would also include some marketing and hype.
@mehowbrainz how did the TC team get 9R involved with TC?
I was loud in the outbound until a guy named Gavin reached out to me via DM, I brought him to the TC leadership. His team later formed 9R and began their contributions to TC. They cleaned up TC real good.
I’d assume some allocation, but I don’t have a labelled tx which would confirm it. If it wasn’t for 9R, I don’t think THORChain would be as successful as it is today. They implemented THORsec/audits, streamlined efforts across the board.
No chance in a lifetime. They’ve got too much work at TC, and Gavin seemed to have had a centralized version service of THORChain IRL (from what I recall), so it seemed like a natural match for him.