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Ambire WalletAmbire Walletby0x2f83c84d36Cb8139E4e5D55248d6255C508AaCeD0x2f83…aCeD

Extend xWALLET staking for a third year

Voting ended almost 2 years agoSucceeded

The first two years of xWALLET staking were additionally incentivized (on top of fee buybacks) with a 4% of the total WALLET supply.

This period ended in February 2024.

We propose that we extend the staking incentive with an additional 4% (of the total supply) for the next year, due to success of the staking initiative so far - more than 64% of the circulating WALLET supply is currently staked. The additional 4% will come out of the DAO allocation and only amount to approximately 7% additional issuance, which won't go into circulation as it's distributed in staking rewards which are locked by default.

We are also introducing a third voting option: "halving" extend the staking with a total of 2% of the total supply distributed over the next year, which will amount to approximately 4% additional issuance.

Off-Chain Vote

Extend the current reward rate
3.95M xWALLET73.5%
Halve the current reward rate
1.42M xWALLET26.5%
Stop the rewards entirely
0 xWALLET0%
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Discussion

Ambire WalletExtend xWALLET staking for a third year

Timeline

Feb 07, 2024Proposal created
Feb 07, 2024Proposal vote started
Feb 14, 2024Proposal vote ended
Feb 14, 2024Proposal updated