The present governance proposal aims to migrate a significant portion of PICA tokens so they can be managed in the Cosmos/Interchain. This is a part of our broader initiative to significantly streamline our growth and innovation processes by migrating Picasso governance and treasury management to the Cosmos. 

If accepted, this governance proposal will move a total of 500 million PICA from their existing allocations. Tokens that will be moving are:

- 120 million tokens from the existing team allocation
- 380 million tokens from the existing treasury allocation

These tokens will be moved to the following intermediary asset address:

- 5wvQXK2nr2NboznodEbtwSiGXE7knFQ2ihHN3qAkemHdcwj6


Thereafter, assets will be bridged to Cosmos.

This will enable the Picasso team to better support its migration of focus from the DotSama ecosystem to our sovereign chain, a Cosmos SDK L1. Operations will still continue across all IBC-enabled ecosystems. However, the main home of Picasso will be its Cosmos chain. This migration further solidifies our position as a chain-agnostic hub and is a step towards optimizing our ecosystem for scalability, interoperability, and community governance.
Additional details about the rationale for and steps being taken towards this migration are available in our blog [here]( https://medium.com/@Picasso_Network/reaffirming-our-mission-as-a-sovereign-app-chain-4db4c29f5c9b ).

**The execution of this proposal does not force transfer the assets from these accounts, they will only be transferred after the execution of referendum 95. **

- **Problem Statement:** Migrating 500 million PICA tokens to Cosmos/Interchain for streamlined governance.
- **Significance:** Enhancing governance and treasury management efficiency for Picasso's growth and innovation.
- **Proposed Solution:** Move 120 million tokens from team allocation and 380 million tokens from treasury to an intermediary asset address for bridging to Cosmos.
- **Expected Outcomes:** Improved support for migration to a Cosmos SDK L1 chain, enhancing scalability, interoperability, and community governance.

Signaling Proposal - Migration of 500 Million Team and Treasury PICA Tokens

No Active Proposals