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[Change Vault Allocation] Reduce Land and LP staking

Voting ended almost 3 years agoSucceeded

Reduce Land staking from 1600 to 1000

Reduce LP staking from 1400 to 1000

Reducing LP and Land staking rewards collectively by 1000 per day will significantly reduce the potential selling pressure from the rewards being minted. This will help to increase the price of the Land token and slow down the introduction of rewards into circulation.

At the current rewards mint rate there are approximately 5.5 years left of rewards. By reducing a total of 1000 Land per day we are extending the rewards time period left to more than 8 years which will give the ecosystem more time to catch up to a point where Land expenditure in the ecosystem is higher than reward minting which is critical for a sustainable future.

Off-Chain Vote

Yes
323.53K LAND97.4%
No
8.48K LAND2.6%
Quorum:1660%
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Timeline

Mar 18, 2023Proposal created
Mar 18, 2023Proposal vote started
Mar 23, 2023Proposal vote ended
Oct 26, 2023Proposal updated