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KogeCoinKogeCoinby0xc44ee4f47E37470C35aD568c5d503a35De12EC1E0xc44e…EC1E

Should KogeFarm create a KogeCoin time-locked vault for price stability?

Voting ended over 4 years agoSucceeded

I propose we add a locked staking vault for KogeCoin. This vault would act exactly the same as other KogeCoin vault providing a great return in Koge but Koge funds would be locked for a period of time after requesting to withdraw.

How will a time-locked vault work?

Currently, when you stake KogeCoin into the KogeCoin farm/vault, you can withdraw funds immediately. A time-locked vault will set a timer once a request to unstake is provided.

The time-locked vault would still automatically compound rewards for you increasing your KogeCoin as time goes on. The only difference would be when you can unstake those funds (28 days after request to withdraw).

Why a time-locked vault?

Although people love the ability to unstake tokens at any time, this ability can be detrimental to the long-term viability of KogeCoin itself and the growth of KogeFarm.

A time-locked vault would benefit KogeCoin and KogeFarm by:

  • Reducing the risk of KogeCoin price volatility. It would lower volatility by encouraging long-term holding. Long-term holding means preventing people from making sell decisions in the moment from emotion over the belief in long-term value.
  • Tipping the scales from sell pressure to buy pressure. If more people are staked in long-term vaults, fewer sellers would exist and the market price should naturally go up.
  • Encouraging emotional fortitude in the project. When the price of assets continually drops in price, all parties involved lose interest and become disheartened about the project as whole. This prevents others from recommending the project and can lead to a project's demise.

How would a time-locked vault be implemented?

Create a KogeCoin time-locked vault that would split the remaining KogeCoin KogeFarm currently holds 60/40. We would have two KogeCoin vaults; the original KogeCoin vault with 40% of the remaining KogeCoin supply with 60% going to the time-locked vault.

Both vaults would end rewards once KogeFarm runs out at the same time. Due to the 60/40 difference, the time-locked vault would have a higher return. Over time the rewards for the locked vault could be increased and the rewards for the unlocked vault decreased to incentivize switching and increase the rewards for those supporting the price stability of Koge.

Off-Chain Vote

Yes - Create a 30-day time-locke
456.76K 29.3%
No - Do not change the current K
1.1M 70.7%
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Timeline

Oct 09, 2021Proposal created
Oct 09, 2021Proposal vote started
Oct 13, 2021Proposal vote ended
Oct 26, 2023Proposal updated