MIP-2: $MAID Emission Adjustment

Abstract

Team is proposing to adjust the $MAID emission strategy so that the decreasing period changes from 525600 blocks (3 months) to 86400 blocks (15 days).

Motivation

$MAID price at the IDO was around $40 but after the emission starts, it gradually decreased to $24 with no pump. Thus, the team decided that this is not good for holders so we need to take some measurement to protect users from exposure to further dumps. We believe the best way to prevent inflation is to reduce the emission earlier than planned. Our original plan was to reduce the emission from 1 $MAID/block to 0.5 $MAID/block (originally planned) in 525600 but we propose it to be changed to 86400 blocks, which is approximately 15 days.

Specification

If this proposal is passed, TheMaster contract's rewardCalculator(currently it's address(0)) will be set to a new RewardCalculator that changes the emission decreasing period from 525600 blocks to 86400 blocks called by our Gnosis Safe multisig. In result, the first decreasement will happend at block 13402400(estimated to be Tue Oct 12 2021 03:24:39 UTC), which means from that block only 0.5 $MAID will be minted every block).

We know that some users, especially those who were already having Nurse NFTs will not like this proposal because their profit will not be the same as before but this is for the entire ecosystem. With this update, we can expect the sell pressure to be weakened and so users will rather choose to stake & keep more $MAIDs for future rewards.

New Emission Estimation Table

If you want to discuss about modification, feel free to do it in out #governance channel