We propose to upgrade the Integritee Network runtime to v540 as [released with 1.13.1](https://github.com/integritee-network/parachain/releases/tag/1.13.1)

changes:
* upgrade to polkadot-sdk v1.13
* introduce [TEERdays pallet](https://github.com/integritee-network/pallets)

## Introducing TEERdays

TEERdays are a new primitive which we suggest to use for governance and revenue distribution of [Incognitee](https://incognitee.io/), the privacy sidechain on Integritee Network.

TEERdays are non-transferrable and aim to reward the most loyal TEER holders who get in the race first. We designed a mechanism where the ones who bond their TEER tokens earlier, get more rewards in the future. TEERdays are a unit that can be accumulated by token holders now by bonding their TEER for the imminent launch of Incognitee – in a way, you’re buying your position in the game. 

The TEERdays are calculated by multiplying the amount of TEER by the number of days locked. Example: 

* 1 TEER locked over 7 days would result in 7 TEERdays. 

* 20 TEER locked over 10 days would result in 200 TEERdays. 

Your accumulated TEERdays will be used as a unit to determine your future revenue share of Incognitee. However, TEERdays isn’t just about determining your revenue share – it’s also about including our loyal community in the Incognitee governance system, which means that all the TEERdays participants will have a say in what happens within the project. Your TEERdays will be applied to the revenue share, but also to your governance voting power for important things regarding Incognitee. Using TEERdays for governance will also increase the security of Incognitee because it adds inertia to the electorate. A (potentially hostile) takeover by some whale jumping into the game at a later stage is much harder because money alone won’t buy TEERdays. Committed time is factored in as well, which gives weight to loyalty. 

Stay tuned for our blog article introducing TEERdays in more detail and our Dapp which will allow you to start accumulating TEERdays.

- **Problem Statement:** Upgrading the Integritee Network runtime to v540 and introducing TEERdays for governance and revenue distribution on Incognitee.
- **Significance:** Enhancing governance, revenue distribution, and community involvement on the Integritee Network through TEERdays.
- **Proposed Solution:** Upgrade to polkadot-sdk v1.13 and introduce TEERdays for loyal TEER holders to participate in governance and revenue sharing.
- **Expected Outcomes:** Increased community engagement, improved governance, and enhanced security for Incognitee through TEERdays implementation.

Runtime Upgrade v540

No Active Proposals