Ethereum Push Notification Service (EPNS) has announced an exceptional offer to not charge the gas fee for PUSH holders from 2nd to March 31st. The community calls it “Gasless March.” The goal of this initiative is to encourage each PUSH holder to participate in voting activities for Push Improvement Proposal or PIP. If you are also a PUSH gov user, then you must not miss this golden opportunity. Aside from gasless transactions, you might also be eligible for the bonus rewards by EPNS. Let us get into the details of this exciting event.
Vote delegation & PUSH Reward Drop
Since early March, EPNS has been covering the gas fee for the token holder groups who have not yet delegated their votes. Thus, EPNS is making the process completely free to encourage holders to use their voting power actively. The development team made the backend repo accessible to the public. When any delegator initiates the on-chain token transaction, the EPNS project team takes care of the needed gas fees.
Who can take advantage of Gasless March?
To be an eligible delegator, users need to maintain a minimum of 250 $PUSH at their addresses. However, note that eligible users are allowed to perform delegate transactions at an interval of 7 days only. Also, a gas fee of more than $50 is not covered.
As per recent data, a total number of 1025 addresses have been considered eligible to participate in the delegation process. It indicates that only 25% of a total of 4000 $PUSH holders can take advantage of this initiative. However, EPNS has announced that if the first 30 days of Gasless March get successful, holding eligibility might be reconsidered. And the new criteria will focus on including more users in their gasless offer.
How can holders delegate?
Push holders need to follow the following steps to perform the delegation process:
- Go to the site: https://incentives.epns.io/.
- Once the dashboard of Push Governance displays on your screen, you need to select the method to delegate your PUSH votes:
- With Gas
By default Gasless option is selected. But, in case you are not eligible for no-gas fee delegation, tap on the With Gas option. You need to pay the gas fee to perform the vote delegation in the latter option.
- Click on the delegate button and wait for the MetaMask page to display on the screen.
For eligible holders/ Gasless option:
- Sign for the transaction.
- The EPNS backend repo takes over to pay the gas fee for your transaction with the help of EIP712. The transaction completion takes around 1-2 minutes.
For non-eligible/With Gas option:
- Give confirmation for your transaction.
- Pay the gas fee, and the transaction will complete within a few minutes.
Once the holders perform the needed number of transactions, they will be able to participate in voting rounds in Push Governance. The network will reward them for their participation.
What is retroactive PUSH distribution?
As per information, up to 10% of PUSH holders have already confirmed their position to participate in the voting procedure in Push Governance. The majority of the holders’ addresses are of Yield Farmers and delegators, who are earning valuable PUSH rewards in the EPNS staking pools.
But, there are also a few active addresses that have paid gas fees for making necessary transactions but haven’t received their rewards yet. To solve this issue, EPNS has been using the model of retroactive PUSH distribution that reimburses the fee to such users.
How can Uniswap users leverage Reward Drop?
EPNS is also targeting Uniswap LP stakers who have not yet activated their power to vote on-chain. The platform wants them to participate in the Reward Drop. However, the participation process is different for Uniswap users. They would need to stake their tokens in EPNS Yield Farms. The Reward Drop will pay gas fee for all the participants for their transactions.
There’s also a Bonus Drop
EPNS is offering a Bonus Drop to a few random lucky users to promote the Reward Drop further. The Bonus Drop will cover the gas fee for users who don’t even have a minimum of 250 $PUSH. However, such users need to quickly delegate their tokens when the gasless offer window goes live.
Incentive offers to increase participation
The EPNS is coming up with full power to promote the Reward Drop among users and make most of them take part in it. For this, the platform is offering a chance to get an extra incentive to the users who take part in the initiative. Further, the platform will choose around 30 random users who delegate votes around the following 30 days between March 2nd and March 31st. These random users are qualified to receive rewards regardless of using the Gasless or With Gas feature. The reward amount they’ll disburse is 100 $PUSH.
Let us see some details regarding the incentive proposal:
- Users that have delegated before snapshot to a delegatee or themselves.
- Uniswap LPs that still haven’t activated their power to vote via building stakes in the EPNS Yield Farms.
Here, 26 users who delegated before the snapshot and 14 LPs that haven’t yet staked to EPNS Yield Farms will receive the rewards. It is a live governance proposal for the community to consider.
Multiple features that Push Governance is providing are accessible to users for a limited time till the end of March. The time limitation potentially can attract vast participants. The campaign by EPNS aims to remove any obstacles in the way to identify and involve valuable users in the Push Gov. This way, EPNS can enhance the number of active members for the Push Governance family. The implementation of the Progressive Governance Approach along with the rewarding Governance Model is driving the success of the campaign. By the end of March, EPNS hopes to connect with the kind of users they want. And for this, they enabled the open contribution channel through this initiative. It could be a real big move in the Web 3.0 and DeFi domains.