[Discussion] Governance Participation Campaign Settlement

General
1

Summary

Settle outstanding rewards from MIP-25: Incentivized Governance Participation Campaign and formally conclude the program.

Background

In October 2024, the Metronome DAO approved the Incentivized Governance Participation Campaign.

The proposal introduced governance rewards for qualifying voters across the next ten MIP votes, including a fixed MET distribution and a proportionate reward designed to approximate protocol revenue sharing prior to the launch of MIP-30.

While governance participation increased and the campaign successfully encouraged voter engagement, the proportionate reward component was never formally distributed or concluded.

Since then, Metronome has launched the esMET buyback-and-distribute program through MIP-30, creating a permanent revenue-sharing mechanism for long-term MET holders.

Abstract

The original governance campaign was designed prior to the implementation of protocol revenue sharing and was intended to reward governance participants with a yield-like incentive. Rather than continuing to track or calculate historical campaign rewards, this proposal seeks to settle the outstanding rewards in a straightforward manner and formally conclude the program.

Eligible participants will receive a retroactive APR reward covering the period from October 2024 through the commencement of revenue-share distributions in April 2025. Rewards will be calculated based on qualifying governance participation under MIP-25 and distributed alongside the fixed governance rewards approved under the original proposal.

Following distribution of these rewards, MIP-25 will be considered fulfilled and concluded.

Eligibility

Participants must have met the eligibility requirements established under the original proposal, including the minimum governance participation threshold.

Reward calculations will cover the period from October 2024 through the commencement of revenue-share distributions in April 2025.

Specification

  • Review governance participation under the Incentivized Governance Participation Campaign.

  • Identify wallets that satisfied the eligibility requirements of the original proposal.

  • Calculate retroactive APR rewards at 60% APR equivalent from each wallet’s first qualifying vote through the commencement of revenue-share distributions (Oct 24 - April 25).

  • Treasury votes will be excluded from any rewards.

  • Distribute rewards in MET.

  • Formally conclude and retire the Incentivized Governance Participation Campaign following distribution.