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inSure DeFiinSure DeFiby0xF1AC888569290590430aAfF83a7b629Bf334818d0xF1AC…818d

Making the staking program more attractive

Voting ended over 4 years agoFailed

To increase demand for inSure tokens and to increase number of token holders, staking program could be offered to liquidity providers on more attractive basis. this can help retain the existing ones and attract more liquidity providers to join the program. offering an additional incentive to stake holders besides the monthly 5% reward and network fees paid to liquidity providers. A 10% extra reward be paid to liquidity providers that do not collect their fees paid out to them by network for a minimum of 6 months as form of compensation by Insure. this would be increased by 2% for any additional month that liquidity provider does not collect the fees. so 12% for 7 months, 14% for 8 months, 16% for 9 months, 18% for 10 months, 20% for 11 months and 22% for 12 months. number of Insure tokens received as fees from network would be the basis for extra reward payment. this way; 1- more liquidity providers would be encouraged to join the program 2- more inSure tokens would be locked away and hence price may increase and stabilize 3- staggered incremental payment would encourage liquidity providers to keep their fees locked longer 4- with this offer, liquidity providers are given the opportunity to monitor the network fees to collect their accumulated fees at the time that lower gas fees are requested by network and are paid for their waiting and monitoring period as long as a minimum of 6 months is achieved. Requested gas fees by network sometimes takes away a big chunk of fees that liquidity provider receives from network.

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Timeline

Oct 27, 2021Proposal created
Oct 28, 2021Proposal vote started
Nov 04, 2021Proposal vote ended
Oct 26, 2023Proposal updated