Should we reduce the MAG staking ROI?

Overview

The core team believes it is time to reduce the 5-day staking ROI for $MAG (currently ~8.1598%). We propose reducing the ROI by half immediately, and giving permission to the core team for further changes in the future based on market conditions. This allows for a more responsive protocol overall and will reduce the token dilution.

A For Vote

• The current 5-day staking ROI will be reduced by half.
• Changes to the ROI in the future will be handled and communicated on by the core team.

An Against Vote

• The ROI will remain the same.
• Any future changes will be voted on by the DAO.

An Abstain Vote

• The ROI will remain the same.
• The DAO will consider the options and revisit the vote at a later time.

Future considerations

Our “diamond hand” reward system will launch soon, encouraging more long-term staking through economic incentive. The staking APY will also be supplemented in the future by airdrops of tokens from projects we partner with.