[ GIP#1 ] Launching v2 staking

Summary

• This proposal is to decide if we can launch GuildFi’s v2 staking program with 30m GF tokens as rewards allocated to GF single-staking and liquidity pools.

• This proposal aims to provide GF token holders the opportunity to share in the success of the GuildFi project by rewarding our users with additional tokens in a sustainable manner and other benefits such as priority in our partners’ whitelists.

Specification

Our current staking program began on 21 December 2021 and is set to end by 20 December 2022. We have gathered feedback from the community on the original proposal a week before the vote began.

The following proposal is now available for all token holders to vote starting on 7 December 2022, 14:00 (UTC) to 13 December 2022, 13:59 (UTC). The staking program itself will start in January 2023.

There will be 3 GuildFi Staking Program v2 proposals up for voting:

• Proposal 1: Do we launch v2 staking, with 30m GF tokens as rewards allocated to GF single-staking and liquidity pools? We will have 4 options: No, 70:30, 60:40 or 100:0 (i.e. no LP)
• Proposal 2: Which liquidity pools should we have? We will have 3 options: GF-ETH, and GF-USDC or GF-USDT
• Proposal 3: What should be our maximum lock period for staking? We will have 3 options: 52 weeks (1 year), 108 weeks (2 years) or 208 weeks (4 years)

Guiding principles for the new staking program, based on feedback from the GuildFi community:

• 30m GF tokens as rewards will be proportionately split between the new and existing staking program based on Total Value Locked (TVL).
• The new staking program will have a significantly higher APY to encourage stakers to migrate to the new pools.
• In the new staking program, the reward ratio for GF single-staking to GF paired liquidity pools (LP) will be 70:30 or 60:40 or 100:0 (i.e. no LP), depending on the vote outcomes.
• APY for the LPs will be higher than single staking pools as a reward for providing additional liquidity, and to compensate for impermanent loss risk.
• Rewards will be locked with initial capital and unlocked with the main capital when the staking period ends.
• Stakers will have the flexibility to increase the amount staked and locked period at any time.
• The longer users stake, the higher the reward APY

More details on the voting process:

• Only GF, and sGF token holders (those who are staking GF in the current staking pools) are eligible to vote.
• One GF, and sGF (derived from the time weighted amount of GF tokens staked) is equivalent to one vote.
• Only GF and sGF tokens held in on-chain wallets will count, i.e. those held on Centralised Exchanges will not be included.
• A minimum threshold of 1 million GF and sGF votes is needed to be met in order for the proposal to take effect.
• A simple majority of >50% of the votes will be required for the proposal to take effect.
• If (4) and (5) are not met, the proposal will be considered void and the GuildFi team will revise the proposal with feedback from the community, and put it up for discussion and voting once more.

Note: All locked tokens from GuildFi’s investors, advisors, team, and ecosystem funds will be excluded from calculations.

For

Promote decentralisation and community governance Reward loyal GF holders and liquidity providers

Against

Decentralisation and community governance are not important Do not need to reward loyal GF holders and liquidity providers

Proposal 1 is a choice on if we should upgrade our current staking program.

If you voted yes, please remember to vote on Proposals 2, and 3 as well.