*** This is a governance proposal to implement the gated sandbox launch, aka. Litter Box 1 ***
Overlay Protocol has recently shared a Medium article about its intention to launch a sandboxed, guarded version called Litter Box 1.
On that article, the reason behind the intention of a sandboxed launch is explained with these words: “Overlay’s guiding principles is community and security first, ie. slow and steady wins the race”. The aim is to create an environment which only a handful of community members will be able to participate at the beginning, before scaling up to additional sandboxed environments, which will include more users.
The proposal is offering to implement these:
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Overlay Protocol will go live on Ethereum mainnet.
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The first supported market should be ETH/USDC, as it has the deepest liquidity on UniV3 of any non-stable pairing.
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Only a handful of community members will be able to participate.
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An Immunefi Bug Bounty will be opened for this environment to complement the two security audits by Spearbit and Least Authority.
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Upon the conclusion of Litter Box 1, Overlay will scale up to additional sandboxed environments, which will include more users, more markets, and side chains.
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Upon the conclusion of Litter Box “production testing”, liquidity mining can begin.
After the criteria of Overlay Governance Framework met, a Snapshot poll will be open, and PCD NFT holders will be able to vote.
These are two options which are going to be offered on the Snapshot:
- Implement the gated sandbox launch, Litter Box 1
- Request changes
The ETA of launch is September 7, if everything goes well and smooth. Don’t forget that we want you to participate in discussions both on Discord and Forum before moving forward. So, let’s discuss about Litter Box 1!
