One to Three Four Hundred
Today, the $POOP token will become a cross-chain xcPOOP. Its supply will be doubled to 300.000 then redenominated to a 1 billion total supply. The allocation is supposed to be
51% to the community
39% governance controlled treasury (community governance)
10% to the team (e.g., for hard-working team members who don't have time to play/earn POOP)
That would represent 3.400 xcPOOP for every $POOP.
What is Cross-Chain (xc)?
Simply put, it does what it says; cross-chain tokens can be freely moved between all Dotsama chains, e.g., between Moonriver and Moonbeam. It will also allow bridging between Ethereum and Polkadot 👀
You can read a more thorough explanation in this Moonbeam blog post.
Governance and GameFi
This move represents a significant step for Raresama (governance) and the whole Moonsama ecosystem. Redenomination provides an affordable token with a wide range of use cases that will allow expansion to new chains and dApps.
POOP was obtained in a decentralised manner from PondsamaNFTs, which were minted using Moonsama Carnage resources, a blockchain-game event that occurs each Sunday.
It has important utility not just for Raresama, but for our upcoming metaverse prototype on Moonbeam.
Read the full referendum proposal on Polkassembly.