Personally, I think that advanced staking should last until V1 is ready to go live.
If a pool of 100,000 ZKP, for example, is put forward for advanced staking rewards, then the APY should be factored in to account for the delta between advanced staking going live and then V1 implementation. So if this period is 12 weeks, for example, then 8,333 ZKP (100,000/12) should be paid out in rewards per week.
I think that the advanced staking program should be between 3 and 4 months. Seems like a good time before privacy staking and testing other protocol parts. If team thinks that between 3 and 4 months is a good time estimation for the durability of program should use it perhaps on advanced staking proposal.
I feel the main focus here should be a seamless continuity from Advanced staking to Private staking…having a systematic increase in APY/APR from classic to adv to Private will also help incentivise holding…the PRPs are a brilliant tool for the same…I really hope something similar is designed for Private staking…as that’s the one that’s gonna last till the remaining ZKP supply dries out
One change thas has been applied to the Advanced Staking infrastructure is to allow for future staking programs by creating new terms if needed. This is very important regarding the continuity of the program itself.
I also think the advanced staking period is appropriate for 3~4 months. And I agree that it is necessary for the continuity of the program to allow for future staking programs by creating new terminology where necessary.
In your opinion, Joris, what sort of time period could we be looking at between V0.5 and V1?
I’d be weary of a sentiment shift in the community if V0.5 ends, and V1 still isn’t ready to go live, so for that reason I’d hope that there would be some overlap or seamless transition. Community sentiment took a huge downturn when classic staking ended and there was no other protocol to utilise.
I think that the 4 month timeframe proposed above is an accurate estimation.
In order to ensure that the length of the program will cover the time period towards Privacy Staking, the option to allow for furture staking programs by creating new terms is optional. Such an option can be applied to prevent a scenario we saw after the ending of the Classic Staking program.
If the current staking period is ending (16 May 2023), let there be a new staking program. I would suggest to propose a new 4 month program which could be put up to vote as a proposal, within the next 3 weeks max hence as @ToXiC_eHC pointed out, before the current program stops accepting new stakes on Panther V0.5.1.
As this is only a configuration change, the proposal itself shouldn’t be too complex. Furthermore, the community should discuss the APR of this new program as in what will be sustainable for the protocol. In my point of view, a lower APR rate makes sense before mainnet (Panther V1.0 launch) so that there’s an incentive to look forward to as well as encouraging & attracting new users towards Panther’s mainnet launch.
There’s two optimal ways we can play this I think:
1.We either maintain the current APR with provision for if they run out before V1 then we agree to add more rewards for then. We can decide how many rewards once that date approaches. We can evaluate the rate in which the rewards were depleted by, and consider the current amount of stakers when deciding how many more are needed in order to maintain rewards until V1.
2.We reduce the APR which will impact how soon the rewards will deplete by, reducing the likelihood of users staking as APR is unattractive for time locked, (or increasing the likelilhood, as rewards are more scarce). This also means we wont need to “waste” rewards supply on V0.5. As the protocol rewards are better served for V1. Also, once V1 is available, depending on the reward rate offered, if more than before, it may entice users to stake again.
I also think it is best to introduce my idea; that any rewards remaining at the launch of V1 should equally be distributed amongst those who did not claim their zZKP early. I would prefer option 1 as this will mean I earn more ZKP in the end. But happy with option 2 as well