I am all about letting the free market work, but if this were to become a thing, I do not realistically see how it could be done for longer than 5 days, which would make it similar to minting. So if you wanna lock up your funds for a higher APY, why not by minting what the protocol wants minted?
I could see a more realistic feature with a longer locking period being a mint optimizer. I don’t see how it could offer any sort of fixed APY but it would most likely be higher than staking.
I totally support this proposal. Long-term holders should be reworded.
Let the cascading liquidations continue… it’s part of crypto. I like lower re-accumulation prices. $TIME price is direct result of fear in the market. Side note - $TIME and $OHM charts are amazing market bottom/top indicators.
APY?? Why not give revenue to the one who lock? That would be more entriguing because you can lock time but have a periodical earning that you can use to reinvest
As @Daniele said, Wonderland is the investment fund of the #FrogNation ecosystem. We’ll see what Dani and Sifu do with the 800+ hundred million we have in Treasury, it could be the best investment fund ever!!!
I think this high APY is a phase and I’m not sure it will last more than 6 months, so it doesn’t make sense to me to create a block time reward.
Let’s not forget that Wonderland is a unique cryptocurrency project as it is using a treasure to back the value of each token, let’s Sifu and Dani to grow this treasure and maybe we can retire if we can accumulate enough time in this phase of the project.
HUGE fan of this proposal! On a sidenote, this would decrease the amount of liquidations due to the added stability and allow for more efficient leveraging. Would greatly benefit the price of $TIME.
Love this idea and I an a strong supporter of this. How can this moved to the next level so that we can put this for vote?
To Summarize this proposal:
Let us have another staking option that is of a longer duration and with APY higher than the shorter duration staking. All the other mechanics remain the same like rebase every 8 hrs and stuff like that.
the APY for the longer duration staking could be a factor multiplied to the shorter duration staking APY. Having a fixed APY may not be a feasible option. Just like the 5 day staking rewards fluctuate based on the number of staked tokens, a simalar calculation for the longer duration staking as well.
My question is, why is this required ?
You already can “voluntarily lock up” your MEMO, by not unstaking. The longer you “lock it”, the higher the APY. That’s how APY works. If you unstake or cash out rebases, your APY goes down.
This is essentially simply adding up a mecanism to lock people for no real reason.
High APYs is not and was never meant to last. If high APYs is what people are after, I’m afraid this may not be the project for them.
You’d be surprised to see how much DOT got locked up on the last several rounds of Polkdot’s Parachain auctions.
Forcing a high APY for the long term staking is putting a huge strain on treasury to be profitable in order to cover for that huge APY. Treasury management is a very important aspect in the whole ecosystem and even if we all trust Sifu, he might crack under all that pressure. When things don’t go right, people are starting the blame game, which might snowball in god knows what.
I would like to see higher rewards for those who stake long term and trust the project (unlike scalpers), but it needs to be done in the right way, without forcing anything.
I think the overall sentiment is to reward long term holders - which is the majority of holders. However i’m not sure locking is the right way as you will have a small number of people who are not locked being able to manipulate the market and everyone else watching from the sidelines.
I think instead it should be an additional reward if you remain locked for 3 months, 6 months, 1 year and not removed any liquidity - adding is of course fine.
The additional reward can easily be calculated and airdropped without worrying about implementation of how to calculate locking and last minute finance increases before the time period is up.
it depends… if we also lower the apy for the ones that unstake or new to the stake and gradually increase it as the duration of your staking increases, we could provide higher APY than now, while guaranteeing the same total production of tokens as now
I agree this is a good idea
Wonderful idea. All for the stability of wonderland and rewarding long term holders.
This sounds good to me. It falls in line with the original idea behind wonderland, to reward the strongest hands. Dumping when market is dumping will reduce value for the whole community. If there is a lock mechanism (in addition to regular no lock availability), it will provide a higher stable treasury for the DAO to pursue other investments safely. Rather than keeping a larger chunk available to provide liquidity for sell offs.
That’s already how it works. You only get the full APY if you stake for a year and the big push comes later in that year.
The treasury is not backed by TIME. Locking TIME/MEMO would not stabilize the assets inside the treasury. It actually makes more money from not being locked since it get fees on the trades.
RomeDAO idea sounds interesting. Rewards those in for the long term without forcing people to have their assets tied up for months on end, something I’m never comfortable with myself even if there are greater rewards on offer.