Hey guys, we’ve been discussing this and created a proposal similar to the last one (with new terms for this to be a third term of Advanced Staking). I’m dropping it below for y’all to discuss:
PIP-16: Extend Advanced Staking
This proposal introduces the initiative of extending the “Advanced Staking” program for another two months, with stakes to be accepted till October 22, 2023 and rewards to be accrued at the APR of 15% for the locking period of 60 days.
Therefore, the new staking cycle to be started with parameters stated in the “Terms for smart contracts” section.
The initial “Advanced Staking” program was launched via PIP-9, PIP-10, and prolonged via PIP-13. The extended Advanced Staking program is valid till August 22, 2023 and the corresponding rewards are to be calculated for the same period.
The community proposes to launch the new cycle (“program”) prior the completion of the previous program (activated via PIP-13) that will be stopped simultaneously with the start of the new one.
The remaining $ZKP tokens originally allocated as staking rewards according to proposals PIP-9 shall be used to source rewards under the new program.
As discussed on Panther’s Discourse forum, the community recommends running a new cycle of the “Advanced Staking” program (AS3), with parameters stated below in the “Terms for smart contracts” section.
This proposal (1) authorizes updates of 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 AS3.
Terms for smart contracts:
It is proposed to follow the below parameters for extending the “Advanced Staking” program:
|First day stakes are accepted
||As soon as relevant PIP is passed and executed.
|Last day stakes are accepted
||October 22, 2023, 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
||The remaining part of rewards, which were allocated according to PIP-9 and used during two cycles of the Advanced Staking program.
|Number of days the staked $ZKP remains locked after stake creation
|Reward formula, where: Reward - reward for a stake ($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 when a staker might 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 at the corresponding page on Snapshot.org. This does not promise any compensation for normal staking/unstaking transactions, or other interactions with the smart contracts.
- Approve all parameters included in the sections “Terms for smart contracts” and “Community Deployment Rewards”.
- Authorize UI code updates to implement new terms,
- 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 AS3 program to be those outlined in the section “Terms for smart contracts”,
- 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.
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.
This proposal triggers the execution of the following blockchain transactions. These transactions are already encoded during the submission of the proposal to Snapshot.org, and can be independently verified via the snapshot.org web interface.
Batch 1 transaction 1
Deploy the AdvancedStakeV3ActionMsgTranslator smart contract on the Polygon network by invoking the DeterministicDeploymentProxy on the Polygon Network.
The transaction will initiate a call to FxRoot on the Ethereum mainnet, which will bridge the contract bytecode to the Polygon network through the MaticBridgeModule.
Batch 2 transaction 1
Deploy the AdvancedStakeV3ActionMsgTranslator smart contract on the Ethereum mainnet using the DeterministicDeploymentProxy.
Batch 2 transaction 2…5
Configure the Staking and RewardMaster smart contracts on the Ethereum mainnet to work with the newly deployed AdvancedStakeV3ActionMsgTranslator.
Batch 2 transaction 6
Re-enable Advanced Stakes on the Ethereum mainnet from Thursday, August 22, 2023, at 12:00:00 PM UTC until Sunday, October 22, 2023 at 12:00:00 AM UTC, with a lock period of 60 days.
Batch 3 transactions 1…4
Configure the Staking and RewardMaster contracts on the Polygon network to interact with the newly deployed AdvancedStakeV3ActionMsgTranslator.
Calls to FxRoot on the Ethereum network will trigger the corresponding calls on the Polygon network. This is done through the bridging mechanism provided by the MaticBridgeModule.
Batch 3 transaction 5
Re-enable advanced stakes on Polygon starting from Thursday, August 22, 2023, at 12:00:00 PM UTC until Sunday, October 22, 2023 at 12:00:00 AM UTC, with a lock period of 60 days.
The transaction will call FxRoot on the Ethereum mainnet to bridge the configuration data to the Polygon network through MaticBridgeModule.
Batch 3 transaction 6
Update the advanced staking reward parameters by changing the end time to Thursday, December 21, 2023 12:00:00 AM UTC.
The transaction will invoke the call to FxRoot on the mainnet to facilitate the transfer of the configuration call across the Polygon bridge.