Staking

Closing $MGH Staking on the Ethereum network and reducing rewards on Polygon

Dear Community,

MGH DAO strives to be a sustainable project with a healthy token ecosystem. So far, the staking rewards are not covered by revenue, which significantly increases the inflation of the MGH token. Soon, staking rewards will be - at least partially - covered by revenue, as outlined in the Tokenomics documentation.

To reduce MGH inflation, the MGH core team proposes to discontinue $MGH staking on the Ethereum network once the epochs for each pool (Hodler, Degen, Ape, Hong Long) have ended and reduce the monthly issuance on Polygon from 200.000 to 50.000 tokens.

When the epoch of each pool ends and the redemption window opens, stakers can redeem their tokens at any time. We will make another proposal to decide on any remaining tokens in the contract.

The new Polygon issuance would take effect immediately if this proposal passes.