Extension of migration deadline (only vote by eMC or MC holders) and pre-vote publicize

As at now, 7% of all MC are still not migrated, meaning the pend-up migration will continue to present a major problem and source of grievance from initial MC contributors. Previous vote is biased as only Beam holders can vote and the issue was not sufficiently publicized before the vote. Therefore, I propose an Extension of migration deadline to 26 April 2025, and this proposal is only to be voted by eMC or MC holders. The vote shall be sufficiently publicized before the vote.

9 Likes

100% agree on this. Would be nice if this was possible, as the risk for the community to extend the deadline is 0 for all practical purposes, but the “gain” for many smaller holders would be quite big (not losing their actually deserved staking rewards).

Just as an example, here is last week’s announcement by Polymesh, who had a 2 year bridge that was even extended by a month. One quote:

100% uptime with zero security vulnerabilities

4 Likes

Hi there,
Also 100% agree, for some of us this is a major issue and, as MC supporters, just not fair.

3 Likes

It absolutely makes sense. Alternatively, if security actually is the concern, eMC could be exchanged for Beam just like MC right now.

3 Likes

Completely agreed.

The initial window was too short with not enough publicity regarding the tight deadlines. I read through every post, comment and reply and the naysayers didn’t really put forth a better argument than “you snooze you lose” which seems like a really unusual way to treat brothers in arms who all together saw the vision, believed in the vision and supported the vision in buying and locking in their MC.

In speaking about this with friends in other DAOs, the universal reaction was “wow that’s f’d up” that the DAO would choose to alienate early supporters.

Ready to vote to extend.

3 Likes

as the vote may be easily manipulated by BEAM holders through temporarily converting their BEAM into MC prior to the vote, I further suggest to confine the vote to eMC or locked-MC holders.

1 Like

Yes, good call. There was poor publicity around this. Putting out votes to include those who have already migrated is like asking turkeys to vote for christmas. Those who are still in V1 or now eMC are likely to be the sorts that you want who planned to hold long-term. This is therefore a short-term view to close the migration so early; a year isn’t a long time and most have been trying to ride out a bear market. An extension to at least 26 Apr 25, and continued publicity would likely mean a stronger DAO. Alternatively, just offer to migrate the eMC now; anything is possible. The only ones voting against this are those who feel they will benefit from doing over those still stuck in eMC. As others have said, there is an element of community to this.

Makes sense to me as well. However, we need to engage some of the “nay-sayers” to understand their views on this, as top4 votes were +100m BEAM and hence its hard to compete against this.

That is why I suggest to confine the vote to eMC or locked-MC holders. asking beam holder to support extension of MC migration, drfeelgood call it “asking turkeys to vote for christmas”

I’m fully supportive of this plan, but is it feasible to limit voting here to eMC or locked-MC holders?

i think so, coz eMC and locked MC holders position are all recorded onchain, transparent and publicly available.

Fully support this!
As an early staker I feel robbed of my rewards here, as they are vested until the migration deadline is passed.
What is the process for going forward with this suggestion?

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