#77 Staking Champions League

Proposal to launch the Staking Champions League (SCL).

Motivation

After unstaking parameters were relaxed earlier this month, the DAO received numerous requests from the community to recognize, reward, and edify its more dedicated stakers. After careful consideration, the developers agree and seek approval for this proposal.

Top 100 Champions

All MetFi NFT owners are encouraged to participate and become an Inaugural Top 100 Staking Champion.

The intent is to recognize, edify, and award the Top 100 Staking Champions on stage at Ocean Summit III. Since Ocean Summit III has not yet been scheduled and voted on (that will come later), the exact end date of Season I needs to be somewhat flexible till then. However, the intent is for this promotion (Season I) to run for as long as possible but no later than the opening day of Ocean Summit III.

How It Works

Only new $METFI staking will be counted to ensure participant fairness. The USDT value of $METFI staked will start counting when the Staking Champions League goes live on July 9, 2024, at 00:00 UTC.

How to Qualify

Qualify and remain qualified by fulfilling all three (3) of these actions:

1. Stay 100 USDT cycle qualified throughout the promotion period,
2. Do not unstake, even partially,
3. Collect volume on all $METFI that you and your personally referred members Buy & Stake in the MetFi dApp.

N.B: Staking volume can only accumulate after July 9, 2024, and the participant must also be 100 USDT cycle qualified for the volume to start accumulating. Users who were not 100 USDT cycle qualified before 9 July 2024 will be unable to accumulate staking volume before the next cycle begins.

N.B: If you skip a 100 USDT cycle or unstake any $METFI tokens during the promotion period, all accumulated volume is reset to zero, and you must start again.

Calculations

The USDT value of all $METFI tokens that you and your personally referred users generate via the following activities is counted:

o Buy & Stake $METFI in the dApp - you and your personal referrals volume, o Newly staked $METFI from buying and upgrading NFTs, including the 10% complimentary $METFI accompanying NFT purchases and any additional $METFI purchased and staked.

Awards for Top 100 Staking League Champions

Ranks 100-51 Exclusive Diamond Staking Champions NFT, Inclusion in the Top 100 Staking Champions League 2025, Recognition and award on stage at the Ocean Summit III 2025.

Ranks 50-21 Exclusive BLUE Diamond Staking Champions NFT, Inclusion in the Top 50 Staking Champions League 2025, Recognition and award on stage at the Ocean Summit III 2025.

Ranks 20-11 Exclusive BLACK Diamond Staking Champions NFT, Inclusion in the Top 20 Staking Champions League 2025, Recognition and award on stage at the Ocean Summit III 2025.

Ranks 10-1 Exclusive CROWN Diamond Staking Champions NFT, Inclusion in the Top 10 Staking Champions League 2025, Recognition and award on stage at the Ocean Summit III 2025, plus an invitation to speak on stage.

Top 10 Champions

The 10 Champions with the highest accumulated USDT value staked at the end of the promotion will share 100,000 unlocked $METFI after Ocean Summit III.

#10 – 5,000 #9 – 5,000 #8 - 5,000 #7 – 6,000 #6 – 7,000 #5 – 8,000 #4 – 9,000 #3 – 10,000 #2 – 15,000 #1 – 30,000

Proposal

Launch the Staking Champions League on July 9, 2024, and approve a 100,000 $METFI prize pool.

Vote Discussion

Join the discussion on this proposal in the MetFi DAO Discord and head to the #vote-discussion channel.

Vote

If the community approves this proposal with a FOR vote, the Staking Champions League will launch on July 9, 2024.

Please vote FOR to approve this proposal or AGAINST to block this proposal.