VALVestingRFP

open_rfps/VALVestingRFP

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+VAL Vesting RFP
+**Proposal Due Date**
+17th November 2021
+**Proposal Overview**
+Vested VAL for XOR ERC-20 holders in accordance to SORA v2 implementation and SORA v2 Tokenomics Referendum
+
+**Proposal Goals (list with explanations where possible)**
+Implementation of the tokenomics as per the SORA v2 Tokenomics referendum (https://medium.com/sora-xor/sora-new-economic-order-tokenomics-referendum-31581e8b649) and the VAL deflationary tokenomics (https://medium.com/sora-xor/sora-validator-reward-token-val-c96a8afb8541)
+
+**Scope of Work (describe the scope of work in as much detail as possible)**
+Implementations to include: 
++VAL vested per day to each XOR, as a remainder portion of the VAL that are burned everyday (burned amount -10% -daily validator reward %). 
++Burn VAL with every transaction on the SORA network
+
+**Current Roadblocks and Barriers to Success**
++VAL tokenomics require a shift to adapt to the proposed implementations.
+
+**Evaluation Metrics and Criteria (definition of done should be as clear as possible)**
+Once this proposal is completed the following will be implemented:
++Constant reduction of VAL total supply 
++VAL will only be available through the initial airdrop, staking or nominating.
++Half of XOR used in SORA network transaction fees will be used to buy back and burn VAL tokens
++New VAL tokens will be minted to reward validators and nominators for the SORA network; rewards start at 90% of VAL burned within a 24-hour period and decreases daily, down to a flatline of 35% after 5 years.
++10% of the amount of VAL tokens burned within a 24-hour period will be minted every day and given to the SORA Parliament
+
+**Submission Requirements**
+Fulfill evaluation metrics and criteria.
+Pull requests to paths as outlined within Submission Method done before Due Date.
+
+**Submission Method (which folder on GitHub to submit a proposal to)**
+https://github.com/sora-xor/rfps
+
+**Project Due Date**
+1st February 2022