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Summary
Citadel.one Foundation proposes to use accrued rewards from DAO Nodes for XCT buyback from Pancakeswap pools and further burn to create positive buying pressure and increase trading volume on existing exchanges.

Background
Citadel.one DAO is successfully running nodes across multiple networks including The Graph, Injective, Cosmos, Secret and so on. All validator nodes receive a portion of staking rewards depending on commission fee set in each network. Citadel.one nodes standard commission fee ranges from 3% to 5%. In accordance with our tokenomics, half of that revenue goes to the community pool and can be voted to increase the value of XCT token by utilizing a burn function or to drop XCT to it’s stakers.

Motivation
Citadel.one Validator Universe is an integral part of Citadel.one DAO making XCT token that powers it a securitized asset, whose value is partially based on the revenue stream Citadel.one is generating from its nodes. XCT holders and stakers must benefit from community driven node ownership, thus XCT buyback and burn is the best solution and use case at this stage of development.

Specification
To the moment of this proposal Citadel.one is counting 21 nodes in mainnets. All their addresses and balances are public and can be viewed in explorers. From the moment of DAO launch all those addresses were nullified, meaning that current balances are fully DAO community owned.

List of addresses:

• Akash - akashvaloper1a4zxtnu9k0zpl6p5hmduc5zz7xrm2dz8vm2ey8
• Band - bandvaloper10grrhfawl98ypn5x25zmqcp8f20eg9sw56v3e0
• Cosmos - cosmosvaloper1lzhlnpahvznwfv4jmay2tgaha5kmz5qxerarrl
• Graph - 0x8d632dfc2454d624910fe982e85a5b15d2ae93c5
• ICON - hx3aa778e1f00c77d3490e9e625f1f83ed26f90133
• Injective - injvaloper1hsxaln75wjs033t3spd8a0gawl4jvxawn6v849
• IOST - citadeldao
• IRIS - iva12f8cfz4qqtk3qxym94xme5qyqjl3gpw0hv2hs0
• Juno - junovaloper1lzhlnpahvznwfv4jmay2tgaha5kmz5qx4cuznf
• Kava - kavavaloper17u9s2fx5htqdsuk78hkfskw9s5g06tzqyl2m8j
• KiChain - kivaloper1umjuwrcn0vdx6w7nxaemv9s6ds0w860k5nrfyr
• Oasis - oasis1qzu358mpd4z5frmrq6vnwq87cqfvdmfxh5ax57cj
• Osmosis - osmovaloper1lzhlnpahvznwfv4jmay2tgaha5kmz5qxwmj9we
• Persistence - persistencevaloper1tv288tg8fa0a53742949m4swph0x2mfg7jsc22
• Secret - secretvaloper1x76f2c2cuwa4e3lttjgqeqva0725ftmqvgvfnv
• StaFi - 33vpeihzksu2HGtYqjNB9aZbrbwfqNsUC4ZAbMMGmKsXtgPo
• Sentinel - sentvaloper1wmeez9g4tepgfnt66989tf4j2zzfwckfhgy0gh
• Sifchain - sifvaloper1nh90hjeljehpcmuvu3ldw59842kvhgn286nv8k
• Tezos - tz1fUyqYH7H4pRHN1roWY17giXhy1RvxjgUV
• Wanchain - ​​0xa49a146ddf3c4529fd9bb993e6fed9311588a418

Listed nodes currently have over $200M USD total value staked and over $600,000 accrued in rewards from commissions, half of which is going to community fund and is currently proposed to be used for XCT buyback and burn.

In case of positive feedback, buyout and burn events will be happening in multiple batches in the period from 15.11.21 to 31.12.21.

In order to avoid front-running Citadel.one DAO Foundation will not disclose buyout exact time, however Citadel.one will release a detailed report after the process is completed.

NOTE: This is a soft proposal and will only be discussed on the forum without going on-chain. Our development roadmap is very busy with all the product releases coming till the end of the year. There is no room to integrate a full-scale governance tool into the Citadel.one platform till that time. Once DAO functionality is released, this sort of proposals will be decided on-chain.

Summary
Citadel.one Foundation proposes to include $OSMO staking to XCT incentivized program.

Background
Citadel.one DAO is currently incentivizing C1 platform and node users and participants of 8 networks: Cosmos (ATOM), Secret (SCRT), Akash (AKT), Kava, Band, Tezos (XTZ), IOST and ICON (ICX).
Osmosis has recently been integrated into Citadel.one platform, bringing an opportunity to attract more delegators to the C1 node and more new users to the C1 platform.

Motivation
Since the launch of the XCT Incentive program for the networks listed above, TVL on Citadel.one nodes has shown a significant uprise. We expect that adding Osmo stakers to the XCT Incentive will attract lots of new users and delegators to the Citadel.one project, thus increasing the number of XCT holders and supporters.

Specification
In case of the successful outcome of this proposal, OSMO stakers will be included in the XCT Incentive program. The inflation parameters won’t be changed, instead, the rewards stream for staking other assets will be broken down into 9 streams.

Proposal discussion period: 29.12.2021 - 12.01.2022

NOTE: This is a soft proposal and will only be discussed on the forum without going on-chain. Our development roadmap is very busy with all the product releases. There is no room to integrate a full-scale governance tool into the Citadel.one platform just yet. Once DAO functionality is released, proposals of this kind will be decided on-chain.

UPDATE FROM 13.01.2022:
Due to positive feedback $OSMO Staking XCT Incentive proposal has been passed. XCT Incentive for OSMO staker launch date to be announced soon!

Summary
Citadel.one Foundation proposes including all integrated (both current and future) networks to the XCT reward incentive program until on-chain governance is implemented.

Background
$JUNO and $COMDEX networks have been added to the Citadel.one platform recently, but are not eligible for the $XCT rewards program yet. With $DVPN, $HUAHUA, $XPRT, $STARS, $INJ, $UMEE, and hopefully $EVMOS coming this month, Citadel.one is finally scaling fast.
Considering XCT governance integration is still in development and may take up to 2 months to implement, we believe that it would be more productive to automatically expand the XCT reward program on all newly integrated networks until then.

Motivation
Since the launch of the XCT Incentive program for the networks listed above, TVL on Citadel.one nodes has shown a significant uprise. We believe that adding more networks to the XCT rewards program will bring value to our users and encourage people to delegate even more on our nodes.

Specification
In case of the successful outcome of this proposal, $JUNO, $CMDX as well as all stakers of newly integrated networks will be included in the XCT Incentive program. The inflation parameters won’t be changed, instead, the rewards stream for staking other assets will be broken down into as many streams as the number of integrated to Citadel.one networks​​.

Proposal discussion period: 08.02.2021 - 22.02.2022

NOTE: This is a soft proposal and will only be discussed on the forum without going on-chain. Our development roadmap is very busy with all the product releases. There is no room to integrate a full-scale governance tool into the Citadel.one platform just yet. Once DAO functionality is released, proposals of this kind will be decided on-chain.

Dear C1 community!
With the first month of a new year behind us, we are happy to share our latest progress and plans.

XCT buyback
Considering multiple community requests we’ve decided to share the intermediate XCT buyback details.
First off-chain proposal to buy back and burn XCT using accumulated commissions from nodes was successfully passed in November. You can learn more about the proposal and nodes’ that were used for buy back here: https://forum.citadel.one/topic/16/xct-buyback-and-burn-off-chain-proposal-1

XCT buy back aims to create positive buying pressure and increase the trading volume on existing exchanges.
Initially, we were planning to conduct the buyback and burn from November 15 to January 31, however, following the recent crypto market conditions Citadel.one team decided to adjust the terms and thus the amounts for buy back.
More info on initial terms of the proposal can be found from the infographics below.

And here are the updated details of the ongoing buyback process.

A little over 13% of the available XCT supply has been taken off the market in just 2 months, making XCT one of the most deflationary assets in the crypto space.
It also proves the concept of the XCT with a securitized cash flow model, where XCT value is based on the basket of broader crypto assets.
With an XCT staked ratio of 64,68%, we want to thank you all for your support and trust.

Integrations
Earlier in December Citadel.one introduced the first extensions - Uniswap and Pancakeswap. Now users can trade ERC20 and BEP20 tokens using one interface.

More details in this article:
https://medium.com/citadel-one/meet-citadel-one-extensions-uniswap-pancakeswap-and-osmosis-5979dddd4de7

Following Osmosis in December, Juno and Comdex have been integrated into Citadel.one recently and soon will be eligible for the XCT rewards program, so in case you've missed it go and stake your JUNO and CMDX on Citadel.one and wait for further announcements!

In this article you can learn more about features that Citadel.one brings to Juno and Comdex users:
https://medium.com/citadel-one/citadel-one-feature-overview-comdex-f3438c20c47a

Long-awaited Metamask Support has been added earlier, too. Now users can connect their Ethereum and BSC addresses without manually inputting a seedphrase or a private key.

Meanwhile, the team is working hard to deliver its promises and vision.

Our upcoming releases include:
Mobile wallet 2.0 - completely redesigned and fully synchronized with C1 web;
Citadel.one Browser Extension - your favorite app for Web3 wallet lovers.

Extensions in pipeline:
OSMO Swap and LP - will bring an even better experience and utility to the platform;
COSMOS & OSMO governance - finally, you will be able to vote for proposals on the networks you love;
NFT extension - we are excited to announce the most popular NFT marketplace (OpenSea) is added to our integration roadmap and will be accessible from our platform so you can enjoy your NTFs' collection or trade them;
PStake - following our partnership with Persistence, we are planning to introduce pSTAKE, a liquid staking solution that unlocks the true potential of staked PoS assets (e.g. ATOM). PoS token holders can deposit their tokens onto the pSTAKE platform to mint 1:1 pegged ERC-20 wrapped unstaked tokens represented as pTOKENs (e.g. pATOM).

Networks to be integrated: Sentinel ($DVPN), Persistence ($XRPT), Stargaze ($STARS), Chihuahua ($HUAHUA), UMEE ($UMEE), Evmos ($EVMOS)

As a last note, we want to remind you that price does not always reflect the value, especially during the tough market conditions. We will continue building in order to deliver the best crypto experience for our users. Please, stay tuned with our official channels as we are planning to expand the utility of XCT, introducing more use-cases and features.

Yours,
C1 team

After receiving some enquiries regarding Citadel.one's voting "Yes" on current proposal, we decided to start this topic and collect all considerations for and against proposal #120.

Based on the community feedback Citadel.one might change it's vote from "Yes" to "Abstain" or "No".

Here's Citadel.one's official position and reasons on why we voted "Yes":

"First and foremost establishing a separate structure responsible for ION seems logical while governing ION through OSMO does not. There are fewer ION holders than OSMO holders, thus ION shouldn't be governed by users who don’t hold ION.

Another thing is that this is just a Signaling proposal. It doesn’t enforce any transactions or transfers of funds. Our vote in favour means that we support the creation of ION DAO and that’s it.

Once the DAO is established and we see their development plan, I guess there will be another proposal. Based on their plan we will decide how we vote further."

Here are reasons for a "No" vote based on community feedback gathered by osmosis community members and Citadel.one delegators:

"-This proposal is very vague, and although it is a signally proposal it asks to “pre-commit” the ≈ 16k ION/$200M+ from the Osmosis community pool to a not yet created ION DAO. OSMO holders feel the OCP owns the ION & is a native osmosis token at the moment. Some feel we could also help develop use case, some feel we need reciprocation if we are giving away those funds.

-they argue the ION was always meant for a separate DAO & that’s what prop 32 meant, but there was no mention of that in the governance proposal that was voted on. A pattern of vagueness that is not good for governance and is creating these problems. There has been no community consensus or true discussion around this commitment. The larger community is against it until further discussion, but the dev team & a few validators hold enough voting power to outweigh a larger number of people. People feel decentralization in osmosis has gone away as validators blindly vote YES with any idea coming from Osmosis's team members. Especially when osmosis has low individual voting turnout.

-there is no alignment of incentives that ensures ION will work towards value accrual for Osmosis after giving these funds to the DAO. There’s talk of eventual making ION it’s own chain which weakens trust of ION bringing lasting value to Osmosis. Stats show ION whales aren’t usually OSMO holders, so this looks like whales looking to position themselves for all the benefit. There needs to be an agreement and a way to align incentives for both sides before the OCP gives away funds to a separate DAO. There needs to be transparency with the community about that eventual plan and possibility of a separate ION chain instead of hiding it behind short term hype.

-some people feel this is a large money grab by a small few. They are saying “trust us” but won’t verify even in a crypto world.

-NO does not mean NO forever to the ION DAO. It is a YES to further discussion with the community."

We are opening this topic and a Telegram poll for ONLY Citadel.one delegators to express their views regarding the situation. The proposal ends in about 1 day from now, so the poll will be active for the next 24 hours.

Cast your vote here: https://t.me/citadelofficial/53231

@dupre will add customable fees in the future