The $CGPT Community has spoken.
Staking pool Capacity shall be increased.
New Members will now be able to participate.
Over the last few months, ChainGPT has been gaining serious traction in the crypto and broader Web3 industry. The attention we have been receiving has resulted in an increased demand for the $CGPT token. A demand that came with requests of expanding inclusion into the staking pools.
In an attempt to address the influx of interest $CGPT has been receiving, a proposal was submitted to the ChainGPT DAO outlining the needs of increasing the token’s staking pool capacities.
🧾 View DAO Proposal #4 🧾
“Increasing Staking Pool Capacities in the ChainGPT Ecosystem”
The DAO members were given four options to choose from including:
1️⃣ No Increase
2️⃣ 10% Increase
3️⃣ 25% Increase
4️⃣ 50% Increase
After a 72 hour voting period, from June 1st to June 4th, the proposal was passed with an astounding 97.44% rate in votes favoring a 50% capacity increase.
With the expansion of the staking pools, the $CGPT community will:
1) Include new token holders into the ecosystem
2) Invite new members into the DAO
3) Increase the amount of tokens locked in staking by 1.75 million
Initially, the $CGPT token staking module had four pool options based on time commitment with a maximum capacity of 3.5 million tokens. The number of pools shall remain the same as will their time blocks, but their capacity shall increase as follows:
🌊 Pool 1: 15 days | 900,000 → 1,350,000
🌊 Pool 2: 45 days | 900,000 → 1,350,000
🌊 Pool 3: 180 days | 950,000 → 1,425,000
🌊 Pool 4: 365 days | 750,000 → 1,125,000
Old Token Cap: 3,500,000 $CGPT
New Token Cap: 5,250,000 $CGPT
Implementation Date: 06/06/2023
Join the $CGPT Staking here 🥩 https://staking.chaingpt.org/ 🥩