PIP-19: Extend Advanced Staking
Summary:
This proposal extends the “Advanced Staking” program for another four months, with stakes accepted till March 10, 2024 and rewards accrued at an APR of 15% (same as prior period) with the locking period of 60 days.
The new staking cycle will be started with the parameters stated in the “Terms for smart contracts” section.
Background:
The initial “Advanced Staking” program was launched via PIP-9, PIP-10, and prolonged via PIP-13 and PIP-18. The extended Advanced Staking program was valid till October 28, 2023 and the corresponding rewards were calculated for the same period.
The community proposes to launch the new cycle (“program”) given the completion of the previous program (activated via PIP-18). As discussed on Panther’s Discourse forum, the community recommends running a new cycle of the “Advanced Staking” program (AS4), with the parameters stated below in the “Terms for smart contracts” section.
The remaining $ZKP tokens originally allocated as staking rewards according to proposal PIP-9 shall be used to source rewards under the new program.
This proposal (1) authorizes updates to the current UI which introduce the new staking terms as described below, (2) autorizes and triggers the execution (via Panther’s space on Snapshot.org and the Reality.eth oracle) of the attached blockchain transactions listed below under Annex, deploying and configuring Panther’s smart contracts to launch Advance Staking - 4 (AS4).
Terms for smart contracts:
It is proposed to follow the below parameters for extending the “Advanced Staking” program:
| Parameter | Description |
|---|---|
| First day stakes are accepted | As soon as the PIP is passed and executed. |
| Last day stakes are accepted | March 10, 2024, 12:00 am UTC, or earlier if “Amount of $ZKP allocated for rewards to all stakers” below has been already depleted, or earlier if Panther’s v1 is launched beforehand. |
| Amount of $ZKP allocated for rewards to all stakers | 1) The remaining part of rewards, which were allocated according to PIP-9 and used during three cycles of the Advanced Staking program. |
- The additional $ZKP 2M, which are the tokens recovered by the Polygon bug fix PIP.|
|Number of days the staked $ZKP remains locked after stake creation|60 days|
|Reward formula, where: Reward - reward for a stake ($zZKP) Amount - amount staked ($ZKP) APR - Annual Percentage Rate (%) Period - rewarded period (days)|Reward = AmountAPRPeriod / 365,
APR - 15%,
Period - 60 days|
|Minimum $ZKP amount per stake|1000|
|Time since for a staker to withdraw rewards from the MASP (but forfeiting the right to accumulate PRPs)|Immediately after the stake is created.|
Community Deployment Rewards:
Users who execute blockchain transactions listed in the Annex shall be rewarded as follows:
- 2,000 $ZKP shall be rewarded to the first deployer of the updated UI to IPFS.
- 3,000 $ZKP shall be rewarded to the user(s) who execute the blockchain transactions to deploy and configure smart contracts on the Ethereum Mainnet and Polygon network. There are 3 transactions to execute, each one will award a user 1,000 $ZKP reward.
- Users who execute the mentioned above blockchain transactions shall be given extra rewards as compensation for the gas costs incurred by these users on the Ethereum Mainnet.
To clarify, this only applies to the Reality.eth transactions directly associated with this DAO proposal, which are described in the Annex and listed on the corresponding page on Snapshot.org. This does not promise any compensation for normal staking/unstaking transactions, or other interactions with the smart contracts.
Proposed Actions:
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Approve all parameters included in the sections “Terms for smart contracts” and “Community Deployment Rewards”.
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Authorize UI code updates to implement new terms,
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Authorize and execute on the Ethereum Mainnet and Polygon network the deployment and configuration transactions described in the Annex, to achieve the terms for the AS4 program to be those outlined in the section “Terms for smart contracts”, including the adding funds to the rewards pool.
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Send the deployment rewards according to the points 1, 2 and 3 of the ‘‘Community Deployment Rewards’’ section of PIP-18, namely:
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The distribution of 2000 $ZKP towards the following address for deploying the updated front-end (v0.5.4) onto IPFS:0xE1B583De9cB37196031b771686734a31ec365768
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The distribution of 6000 $ZKP to the following address who executed the blockchain transactions to deploy and configure the smart contracts on the Ethereum Mainnet and Polygon network:0xE1B583De9cB37196031b771686734a31ec365768
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The distribution of $146 USD in $ZKP tokens - which is $ZKP 7685 at the rate $ZKP=0.019 USD - as a gas fee compensation for the community member who executed point 3 of the Proposed Actions section, PIP-18: :0xE1B583De9cB37196031b771686734a31ec365768
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Request the Panther Foundation to configure the pantherprotocol.eth namespace so that the URL Panther Staking will point to the updated UI deployed on IPFS.
Acceptance Criteria:
In order for “Zodiac Reality Module” (further referred to as the “Module”) to execute a transaction, any corresponding proposal must have passed, as reported by Reality.eth.
The Reality.eth question should conform to this template (the required template ID is defined by the installed Module):
{
“title”: “Did the Snapshot proposal with the id %s in the PantherProtocol.eth space pass the execution of the array of Module transactions that have the hash 0x%s and does it meet the requirements of the document referenced in the daorequirements record at PantherProtocol.eth? The hash is the keccak of the concatenation of the individual EIP-712 hashes of the Module transactions. If this question was asked before the corresponding Snapshot proposal was resolved, it should ALWAYS be resolved to INVALID!”,
“lang”: “en”,
“type”: “bool”,
“category”: “DAO proposal”
}
Reality.eth should resolve the question to “yes” only for proposals that:
- were initiated as a Snapshot proposal in the PantherProtocol.eth space (athttps://snapshot.org/#/pantherprotocol.eth);
- had a minimum quorum of 4% of the $ZKP token total supply, returned by the $ZKP smart contract deployed on Ethereum network at the address stated by the zkpaddress record at pantherprotocol.eth, having cast votes to approve execution of the transactions;
- had a voting period of at least 3 days;
- had no significant service outages or availability issues that could have reasonably restricted $ZKP token holders from casting their votes in the proposal;
- have a minimum bond on the Reality question of at least 0.5ETH;
- the module transaction hash in the Reality.eth question is the keccak hash of the concatenation of the individual EIP-712 hashes of the module transactions defined in the Snapshot proposal;
- the plain description of the transactions, and their intended result, in the proposal is complete and accurate;
- do not occur during, in, or as a result of any unauthorized or malicious changes to the PantherProtocol.eth Snapshot space;
- were not filtered from the default view in the PantherProtocol.eth Snapshot space during the voting period.
Reality.eth should resolve the question to “invalid” if:
- the Reality.eth question meets the above requirements but was created prior to the end of the proposal vote period and/or the snapshot block for the vote (i.e. the final results of the vote are not yet known).
In all other cases, the Reality.eth question should be resolved to “no”.
Participation:
Please vote to accept or reject the proposed actions detailed above.
As per the existing DAO governance structure, as the staking smart contracts are not currently issuing any rewards, you need to hold $ZKP, staked or not, on the Ethereum Mainnet or Polygon to participate in voting.
Voting power is calculated by Snapshot.org taking a snapshot of the number of ZKP tokens per holder at the block within which the proposal was created.