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Merit CircleMerit Circleby0xDa4529997118e610c925150AEA0c09B89Cde75370xDa45…7537

[MP-3] Choice of platform

Voting ended almost 4 years agoSucceeded

What should be the platform for LP staking in the staking V2 platform?

Previous polls [MP-1] https://vote.meritcircle.io/#/proposal/0xbd4b35e7ef4fa6aa3d354084a6c6cde2db9f4f029554169357faf3690c3bdef4 [MP-2] https://vote.meritcircle.io/#/proposal/0x64a669acccf77471e8aee82ecbfdda431d4b487ca01e66b2cc4c1764b5ef97d0

Relevant information

Poll 1 decided the main LP pairing asset should be USDC. Meaning the LP pool will be MC/USDC in the second version of the staking platform.

The current pool is a MC/ETH 50/50 Uniswap v2 pool. The old pool will be phased out, current v1 stakers do not have to worry. They will receive similar relative proportional rewards, until the last staker is unlocked (1Y from new pool launch).

The new pool will accrue the majority of the dividends and subsidies the protocol will attribute to stakers (currently 80%). The pool will exist next to a single staking $MC pool, that also receives part of these staking rewards (currently 20%).

In the previous poll, the DAO decided that the LP stake can be locked for 0-48 months. The longer the lock, the higher the rewards for the staker. The bonus multiplier will be either linearly or exponentially.

LP tokens will retain a similar voting weight as they have currently in the V1 system. Locked stakers could also get secondary benefits, such as airdrops from (partner) games or platform fee discounts.

Off-Chain Vote

Balancer 80/20
21.57K MC0.6%
Uniswap v2
3.15M MC91.6%
Uniswap v3
132.84K MC3.9%
Other
135.43K MC3.9%
Quorum:172%
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Discussion

Merit Circle[MP-3] Choice of platform

Timeline

May 20, 2022Proposal created
May 20, 2022Proposal vote started
May 22, 2022Proposal vote ended
Oct 26, 2023Proposal updated