🚨 Proposal Title: Upgrade alyssum for v1.25.0
📅 Proposal Launch Target: July 14, 2025
Last Updated: Jul 14, 2025
🗺️ Proposal Live on Explorer - https://explorer.provenance.io/proposal/92
🧠 Summary
This proposal will allow the team to unlock a set of specific individual accounts from the 4-year vesting lockup schedule for a second time, in addition to a bulk set amount that will be subsequently relocked after the next upgrade on July 14th, 2025 and placed in 4-year vesting accounts. The unlocked amount will be ~15B HASH and transferred into the necessary accounts from the following Provenance Blockchain Foundation wallets:
pb14t3me36m9gpkdwpyczgevctlt6trdq46dugccdnrlu92n9eee0ss5k65tq
pb15yfx2r9sxjzgrcdghvt8me9vvt540w4kg25mehwlcjm4jq2m2hmsh6af7z
pb1rkml5878l2daw3a7xvg48wqecnh9u9dn2dtl8g57rsctq5pnc00s9ej3xw
pb1e2fhljv44saqmewp6j6ra0y94e8vzfs9a9r4aq
The individual accounts were approved after they successfully appealed to have their HASH unlocked. This was offered to the community after the previous governance proposal surrounding a HASH lockup was passed.
Each upgrade following a governance proposal is a high intensity process. As a result, we're going to move the release of the governance proposal to next week to time with a scheduled upgrade
🎯 Purpose
This proposal will allow the team to accomplish two goals. The first is to have the ability to send necessary capital to partners for GTM efforts (i.e. Capital Raise, Market Making, Previous Employees, etc). Provenance Blockchain Foundation will NOT be spending this HASH actively in market. Once transferred to the correct partners, the HASH will be placed in vesting accounts on a 4-year schedule.
The second goal is to unlock a set of specific accounts on mainnet from the 4-year vesting lockup schedule. These accounts were determined through an appeals process for HASH holders who were wrongly locked up. This process was created after the previous governance proposal surrounding a HASH lockup was passed.
📆 Voting Timeline (Tentative)
Milestone | Target Date |
🗳 Voting begins | July 15, 12PM EST |
🗳 Voting ends | July 17, 4PM EST |
🔁 If approved: Go live | July 17, 6PM EST |
❓ FAQ
Who is affected by this change?
— Only those who submit an appeals form during June 10 - June 30, 2025, that were subsequently confirmed by the Provenance Blockchain Foundation team; those that were confirmed should receive an email.
What if I forgot to appeal?
— For our next blockchain upgrade, we will be adding an endpoint to allow for easier unlocks on the backend. We will intermittently be opening up the appeals form based on demand, starting on a quarterly basis.
What if I am waiting on a token transfer from the foundation?
— The token grant amounts will be unlocked with this upcoming upgrade, transferred into the correct accounts, then subsequently relocked in 2 weeks.
Who are the recipients are of the 15BN HASH?
—The recipients of the 15 bn HASH aren't outlined yet, nor are the amounts; the amounts set aside to be distributed for the following use cases:
- Market Making purposes (on CEXs and DEXs)
- Recapitalization of the Foundation (certain amounts will go to VC partners)
- Exchange listing fees (many of the exchanges require token supply in exchange for listing)
- Past, present, and future employee grants
Important things to note:
1. Any HASH that is transferred to partners will be placed under the same lock / vesting terms as everyone else; the only exceptions will be for partners that actually need liquid HASH to perform services (i.e. Market Making)
2. The aim of unlocking as well is so we can have HASH available for go-to-market activities; unlocking HASH is a technologically rigorous endeavor, and we aim to minimize the amount of strain put on the engineering team by unlocking a bulk amount.
- Any HASH that is transferred to partners will be placed under the same lock / vesting terms as everyone else; the only exceptions will be for partners that actually need liquid HASH to perform services (i.e. Market Making)
- The aim of unlocking as well is so we can have HASH available for go-to-market activities; unlocking HASH is a technologically rigorous endeavor, and we aim to minimize the amount of strain put on the engineering team by unlocking a bulk amount.
📢 Call to Action
This proposal has been created with fairness, alignment, and future-proofing in mind across the HASH ecosystem.
🗳 Vote Opens: July 15, 2025, at 12PM EST