Continuity of Platform funds management in 2024 as per previous years

Dear fellow Riders,

As the year 2024 is at its start, we would like to confirm as the DAO, a continuity of the strategy towards the usage of the project funds in 2024.

A DAO approval is aimed for, to continue with the 100% reinvestment of all the raised funds of the project and protocol fees (effectivelly 100% of the platform revenue) to continue with bringing of new features, enhancements, and maintaining the platform operations and compliance. Some of the key activities are:

  • Continue with the development of WingRiders DEX and WingRiders Launchpad by brining of new features and enhancements in alignment with the roadmap, DAO proposals, involving community feedback and discussions
  • Provide continuous support and maintenance of the platform to ensure its availability and security
  • Sustain the operations and community moderator teams in order to support the community and respond to requests or issues
  • Maintain the compliance posture of the platform from both legal and regulatory perspective, on best effort basis provide continuous assessment and monitoring of the relevant legislation

This in summary means that the policy of zero profit withdrawal continues from the day of the platform creation. Anything the platform gains in revenue is used only for its enhancement or operation to build a long term tool (platform) for the whole ecosystem to rely on and grow with.

The voting for this proposal will be open from 1st of February, 10 am UTC till 7th of February, 10 am UTC, so that a sufficient number of users will have time to participate in the voting.

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Hi Techrider! I understand that this policy does not affect the WRT fee change because the percentage approved in DAO to go to WRT holders comes from the fees already going to liquidity providers. It’s right?

I think that’s fine as it would be the same as things like LP fees which would obviously still go to liquidity providers, and not be affected by this. The proposal here is just about continuing the funding strategy so far into 2024, reinvesting everything (else) the protocol itself makes back into development, operations and compliance. Important for long term sustainability and pushing forward.

RIDERS: The Proposal is live for DAO voting ending Thursday, February 8 at 11AM UTC. WingRiders

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