How to Request a $PALM Token Allocation
$PALM allocation will only be provided to Palm Communities that have completed the KYC process.
The admin of the Palm Community can submit a proposal to the Palm Collective requesting $PALM allocation by filling out the $PALM allocation request form.
$PALM allocation request form will be available for admins to fill out at any moment. The proposals will be reviewed and voted on by the Palm Collective during Grant Seasons which will be made public once $PALM is available.
The mechanism and quorum needed to unlock $PALM Allocation Proposal votes will vary depending on the $PALM amount requested.
Palm Collective $PALM Allocation Voting
$PALM Allocation Approval
If the PALM COMMUNITY allocation proposal is approved by the Palm Collective vote, then Palm Collective Genesis Smart Contract will use the PALM COMMUNITY Factory smart contract to create the corresponding PALM COMMUNITY treasury with the $PALM allocation subject to KYC approval.
The allocation process will follow the logic implemented in the vesting/unlocking contract attached to the corresponding treasury. The approved $PALM allocation will be automatically transferred to the corresponding vesting contract.
Palm Community Types
Permissioned and Permissionless Palm Communities
PALM COMMUNITIES have the option to choose between permissioned and permissionless access to allow users to participate in each PALM COMMUNITIES governance process.
$PALM Allocation Rejection
$PALM Allocation or Without $PALM Allocation
Palm Community without $PALM Allocation:
Permissioned Palm Communities:
Permissioned Palm Communities are established by groups seeking a controlled approach for granting access to their treasury and governance processes. In a permissioned Palm Community, mechanisms are implemented for users to mint or collect corresponding Proofs based on predefined allowlists.
If the $PALM allocation proposal is rejected, the Palm Collective may be able to get feedback from the on actions to be taken before submitting their proposal again, if they so chose to.
Palm Community with $PALM Allocation:
Permissionless Palm Communities:
Permissionless Palm Communities are initiated by communities that prefer an open membership model, allowing any user with a PalmID to mint or collect the respective Proofs and become a member of the community.
A Community that does not have PALM allocation in their treasury.
A Community that has a PALM allocation in their treasury. The PALM Allocation will be voted on by the Palm Collective as per the process described herein.
Active & Inactive Palm Communities
Active Palm Communities with $PALM allocation that meet the following criteria will be considered as active:
Active Palm Communities without $PALM allocation that meet the following criteria will be considered as active:
Active Palm Community Criteria:
Minimum one treasury proposal & vote on an annual basis.
Minimum one governance vote on an annual basis.
Active Palm Community Criteria:
Minimum one forum discussion and/or one governance vote on an annual basis.
Inactive Palm Communities:
In the event a Palm Community with $PALM allocation does not meet the minimum criteria listed above in a one year period, the Palm Foundation or the designated Super Admin will issue one warning to the Palm Community via the Admin or Admins of the Palm Community, with a 6 month period to set forth at least one annual treasury and governance vote. If the Palm community with $PALM allocation does not carry out at least one treasury & one governance vote in the following year as of the date of the warning, they will be unable to unlock or vest the $PALM allocation remaining.
In the event a Palm Community without $PALM allocation does not meet the minimum criteria listed above in a one year period, they will be issued a warning to create a forum discussion and/or one governance proposal, in the event the proposal is not created in the year following the warning they will be automatically delisted from the discovery section to prioritize active Palm Communities.