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MonsterMonsterby0xBcC64d539058e9987bB3fefD8044311c52151ec7cryptoshuraba.eth

Modify vedcMST & LP staking rewards

Voting ended almost 4 years agoSucceeded

Background

Below article details the current rules for the release of staking awards.

MST Tokenomics(Part Two): vedcMST & LP staking rewards

https://medium.com/@cryptoshuraba/mst-tokenomics-part-two-vedcmst-lp-staking-rewards-ed76c6a8a737

Why to propose this

The supply of tokens is related to the cycle of the market, the size of the community and needs to be dynamically balanced, which is crucial for the development of the project. After 30 days of operational testing, we found that the release of tokens during the pledge reward process exceeded the community's demand, mainly due to two reasons:

  1. No significant increase in community size in the current crypto market cycle.
  2. The project lacks scenarios to consume tokens and supply exceeds demand.

To this end we will tackle inflation in three ways:

  1. Reduce release of vedcMST&LPs staking rewards to reduce token supply.
  2. Continue to develop the game to add token consumption scenarios in the future, such as. character upgrading, land auction, guild, equipment casting, etc.
  3. Open up collaboration channels to encourage 3rd party developers to develop more types of games using components and economic systems to increase tokens’ usage.

For this proposal, we will organize our community members to vote together on whether to change the release logic of vedcMST&LP staking rewards

Proposal Content

Number of staking rewards will be dynamically adjusted based on TVL, like:

TVL(USD) Daily release amount for MST
<500,000 6,000
500,000 - 1,000,000 9,000
1,000,000 - 4,000,000 12,000
4,000,000 - 10,000,000 16,000
10,000,000 - 20,000,000 20,000
20,000,000 - 30,000,000 25,000
30,000,000 - 50,000,000 30,000
>50,000,000 40,000

The release of token will no longer be time-dependent, but will be related to the size of the community. As the community grows faster and the TVL increases, more token will be released and the release period will be shorter; as the community grows slower and the TVL decreases, less tokens will be released and the release period will be longer.

Off-Chain Vote

yes
141.62K vedcMST88.6%
no
18.15K vedcMST11.4%
Quorum:266%
Download mobile app to vote

Timeline

Jun 09, 2022Proposal created
Jun 09, 2022Proposal vote started
Jun 12, 2022Proposal vote ended
Oct 26, 2023Proposal updated