Since the launch of Caduceus Metaverse Protocol (CMP) mainnet back in April 2022, the network has been running securely and stably for over 20 months. During these 20 months, CMP has achieved a few milestones:
1. Integrated with 8 different wallet providers
2. Announced cross-chain support for both tokens and NFTs via bridging
3. Two swap platforms have deployed on chain
To further develop the Caduceus Metaverse Protocol ecosystem, with the support of AI, Web3, and Metaverse technology, we are proposing a full upgrade of CMP to V2.0. CMP2.0 is an important milestone, which has the potential to bring more creators and developers into the CMP ecosystem. However, we also highly value the voices of our community members, hence we are proposing a global community vote. This also demonstrates our vision and ambition of being completely decentralised in the near future.
Voting start date: 14th December 2023, UTC 00:00:00
Voting end date: 21st December 2023, UTC 00:00:00
There are two main aspects of the CMP 2.0 upgrade:
1. Mainnet performance upgrade: AI & rendering mining features & full modularisation
(i) Higher performance, reaching over 100,000 tps
(ii) Support for AI mining, large-scale rendering mining, and ecosystem supporter mining. This is one step closer to a fully decentralised protocol
(iii) Support for the eWASM virtual machine
(iv) Completely modular architecture design, facilitating Dapp deployment
2. CMP 2.0 Tokenomics upgrade
(i) The total supply of CMP2.0 is 2 billion
(ii) Computing node mining (cloud rendering and AI mining): 600 million
(iii) Validator node mining: 200 million
(iv) Cloud rendering and AI resource developer mining: 100 million
(v) End user mining: 100 million
(vi) CMP option mining: 300 million (only available to osCMP holders)
(vii) Labs: 200 million, vesting over a 4-year period, releasing on a linear basis, starting 12 months after the launch of CMP 2.0 mainnet
(viii) Strategic investors: 200 million, vesting over a 2-year period, releasing on a linear basis, starting 12 months after the launch of CMP 2.0 mainnet
(ix) DAO: 200 million, vesting schedule will be determined at a later date via community vote to realise a fully-decentralised protocol
(x) Liquidity: 100 million tokens, no vesting, tokens are utilised to support community operations, further tech development, and maintenance
Details of the vote
- Voting options: Approve or Decline
- Who can vote: Anyone holding CMP1.0 tokens
- How to vote: A dedicated page will be available on the Caduceus official website when the voting system opens
- Each person can only vote once
- Each CMP token represents one vote
If there are more votes in favour of the upgrade proposal, then the upgrade will go ahead. If not, then the mainnet remain as the current Version 1.0.
If the upgrade proposal is declined
If the upgrade proposal is declined, all voters can reclaim their CMP1.0 tokens and CMP1.0 mainnet operation will continue as normal.
If the upgrade proposal is approved
Everyone who participated the voting, regardless of what they voted, will be entitled to the CMP2.0 option token (osCMP) at a 1:1 ratio.
All CMP1.0 token holders who did not vote on the proposal will be required to transfer their tokens into a dedicated smart contract within a specific timeframe in order to claim CMP2.0 Option Tokens (osCMP).
Once the claim deadline has passed, the claim will no longer be available.
Exercise your options:
Option No 1.
Once the CMP 2.0 token (ERC20 version) is listed for trading on exchanges, all holders of the CMP 2.0 Option Token (osCMP) will be required to purchase the equivalent number of CMP 2.0 tokens in order to exercise option 1.
Token holders are required to lock up all of their osCMP tokens and CMP 2.0 tokens (ERC20 version) in a dedicated smart contract. They will then immediately begin to be allocated CMP 2.0 tokens (ERC20 version), released to them daily, on a linear basis over 12 months.
Example:
If a token holder has 365 CMP2.0 Option Tokens (osCMP), then he/she must purchase the equivalent amount of CMP2.0 Tokens, in this instance, purchasing 365 CMP 2.0 Tokens (ERC20 version) .
They would then lock up all of their osCMP tokens and CMP2.0 tokens (ERC20 version) in the dedicated smart contract. Immediately after the tokens are locked up, they would begin daily release, in a linear basis over 12 months. In this example, this equates to 2 tokens released per day, for a total of 730 CMP2.0 tokens.
Please note:
The trading date of CMP2.0 (ERC20) will be announced at a later date once it is confirmed with all exchanges.
Once CMP2.0 mainnet is launched, all CMP2.0 tokens (ERC20) will be mirrored onto the CMP2.0 mainnet at a 1:1 ratio.
Option 2:
If you choose not to exercise option 1, the following release schedule will apply. This is relevant to all CMP public holders, early investors, core contributors, the Caduceus Foundation and Labs.
Release rules & schedules:
CMP2.0 tokens will be released daily, according to a linear schedule, beginning 12 months after Caduceus mainnet 2.0 launch.
- For CMP public holders, total vesting period is 1 year
- For Early investors, total vesting period is 2 years
- For Core contributors, total vesting period is 4 years
- For the Caduceus Foundation, total vesting period is 4 years
- For the Labs, total vesting period is 4 years
We are looking forward to the vote and thank you for your support over the last 20 months. We will continue working towards our shared goals regardless of the results of the V2.0 proposal vote.
Voting available here: https://www.caduceus.foundation/vote
Thank you
Caduceus Foundation
