[SIP-4, SOON Improvement Proposal] : November Token Unlock - Full Lock and Long-term Staking

Proposal Discussion
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Proposed Action

SOON Foundation proposes to lock and stake 100% of the tokens scheduled for the upcoming November unlock, totaling approximately 15.92M $SOON.

These tokens will be placed into long-term staking under the following conditions:

  1. Full Lock: All 15.92M $SOON from the November unlock will be locked and staked

  2. No Additional Staking Rewards: Consistent with our previous unlocked tokens, these staked tokens will NOT receive additional long-term staking rewards

  3. Zero Dilution: This approach ensures that Foundation staking activities will not dilute community members’ long-term staking rewards

Expected Benefits

This proposal delivers several key benefits to the SOON ecosystem:

  1. Community Protection: By forgoing additional staking rewards, the Foundation ensures that community stakers maintain their reward share without dilution

  2. Reduced Market Pressure: Locking these tokens removes potential selling pressure from the market, supporting price stability

  3. Long-term Commitment: Demonstrates the Foundation’s confidence in and commitment to the long-term success of the SOON ecosystem

Community Discussion and Voting

We invite all community members to share their thoughts, concerns, and suggestions regarding this proposal. Your feedback is crucial as we work together to strengthen the SOON ecosystem.

We will open a vote in the near future after listening to community discussions.

Notice

The November token unlock does NOT include SOON Squad. Many community members have mistakenly assumed that SOON Squad tokens unlock in November. To clarify: SOON Squad tokens are scheduled to unlock in December, not November.

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I really welcome the fact that the foundation’s share is being locked up in a way that doesn’t dilute holder incentives and instead focuses on the long-term value of the $SOON token.

If we look at $OP, they’ve used their token for governance, airdrops, the Citizens’ program, and all kinds of Web3 initiatives, which helped Optimism establish itself as one of the main hubs of the EVM ecosystem.

$SOON doesn’t have to follow the exact same model, of course—but as a community member, I’d love to see us explore ways to leverage the locked tokens to:

  • encourage growth and activity in the SVM ecosystem, and

  • support diverse and deeply engaged community initiatives.

I think a discussion around how we can do this with the locked allocation would be really valuable for the future of $SOON.