Let me be the first person to comment that lowering the APR rates would not entice me to stake more so I would at the very least keep it the same.
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
Them i will be the one who think a increase would attrack people… for shore i.c.w. Mexc
the first option, in which the current rate remains at the same level, is the most acceptable, and I like the option of distributing unrealized tokens between bet holders
Great discussion Guys…this is my opinion…although time is of the essence…I do see how (as Joris suggests) we lowering APY for now and then increasing it up again on V1 launch would incentivise new entrants to the protocol….but I also see reason in Praetorians argument that we need to find a middle ground to keep existing stackers staked as a mass unstaking, although good for temp market liquidity maybe, looks really bad for the protocol…so my suggestion is that we decide on the APY of the PRPs immediately …and increase it to a significant amount that would make up for the drop in the main APR…this way it’s a win win! What do you guys think?
If we maintain the current APR but increase the rewards pool.
In combination with my idea of distributing the remaining rewards to user who did not claim early for V1. This will encourage current users to stay staked, also for new stakers to join us and for user to not claim early till V1.
The only sacrifice here is increasing the rewards pool in order to lock up the most supply till V1. I think the pros out weigh the cons here.
Only half of the current rewards have been used thus far, for 120 days of lock ups.
So in theory the remaining rewards should last another 120 days, so adding another 3 mill zkp should give us more room for an extra 120 days and ample room for new stakers to join. We shouldnt need the full 120 days extra the new 3mill rewards will add, as V1 should launch between July - Sept Q3. So any rewards left can go towards zZKP holders who didnt claim early.
Keep 15% APR, Add 3 mill to rewards to last till V1, remaining rewards go towards users who didnt claim early.
a great balanced idea, I think Protherian’s approach is the most logical and flexible one I support.
“Keep 15% APR, Add 3 mill to rewards to last till V1, remaining rewards go towards users who didn’t claim early.”
Fully aligned with all three parts.
Makes sense. Wen proposal? We have less than 3 weeks.
yes let proposal go snapshot before advance stackin ends
Let’s guys do it before April 7th
Can we PLEASE include a notice, informing user that unstakable ZKP will no longer accrue rewards.
Just so user understand that they will need to restake to continue earning
Thanks for your input guys. We are drafting up a proposal including the parameters of Advanced Staking based on the above (APR (15%)), and the length of Advanced Staking, suggested to be similar to the previous program.
Furthermore this improvement proposal, PIP-13, comes with front-end updates as well.
What is the length of the advanced staking this time, Joris? With V1 being 2-3 quarters away, I think the optimum length of AS should be up until the end of 2023, just in anticipation of V1 delays.
Foresight > Hindsight.
Then, in the event of an early V1 deployment, remaining AS allocated rewards, to be distributed proportionally amongst the remaining active stakes.
119th days since “first day stakes are accepted”, or earlier if the “Amount of $ZKP allocated for rewards to all stakers’’ has been already depleted, or earlier if Panther’s v1 is launched beforehand.
An important parameter for defining the length of Advanced Staking is the $ZKP reward pool. Right now, the same program as before can be launched based on the 15% APR rate in order to distribute the remaining $ZKP to the Advanced Staking users as approximately half of the reward pool has already been distributed since the launch of Panther V0.5.
Agreed, same as before if it runs out it can be addressed when the time comes I would imagine.
Exact amount of rewards allocated in the V0.5 staking was 2 594 371 $ZKP out of the 6m reward pool so there is still 3 405 629 $ZKP rewards left to be exact. Which is more than was consumed on V0.5 so far so imo there is still a fair amount of rewards left currently.
Plenty leftover to re-distribute to the loyal participants
With V0.5.2 around the corner.
If the 120 days is not sufficent, we can just vote for another round.
Why the 120 days may not be sufficient? - If V1 needs to be delayed for whatever reason found during testnet.
If the rewards supply run low or out, then once again we can just vote for more supply.
Why the rewards supply may run out? - Testnet could draw in more users who want to accumulate (stake) ZKP. As we get closer to V1, I imagine the Hype will also grow.
And as before, if any rewards are left after V0.5.2 ends then we can share them equally amongst the zZKP holder. Though, I would prefer more of the supply to be shared to those who are committed to the project.
I like more ZKP, give me free ZKP
Let’s all agree to initiate this 1 month max prior to the next round expiring perhaps to prevent all the fear and fud we have seen in the socials the last 2 weeks
I agree that this should be done in one month or even 2, so that we don’t have downtime, let’s already launch PIP with the advanced stacking extension!!!