#REI DAO #2 Proposal #Introducing FREE STAKE Module

Background of the Proposal

To better adapt to the development trend of blockchain, REI Network has chosen to be compatible with EVM. In order to further improve the on-chain transaction speed and reduce the on-chain cost, REI Network innovatively developed the method of staking to obtain on-chain resources (Staking for free gas), namely the "Free stake" module. Adhering to the principle of decentralized governance, REI Network Foundation decided to hand over the rights of launching the module to the community!

Specific Target

Fully understand the community's attitude towards the "FREE STAKE" module, and ensure that every $REI holder can fully realize their on-chain governance rights on REI Network.

Necessary decision

If you hold $REI and agree with introducing "Free stake" module, then you do not need to vote for the proposal. If you have any objection to the "Free stake" module as a $REI holder, please let us know by voting.

Quorum

3% of the circulating supply (750 million). If the number of votes against this proposal reaches 3% of the $REI circulation, we will discuss the FREE STAKE module with the community again to gain the support from more community members.

Details of FREE STAKE

REI Network Foundation will release 10 million $REI each year for node rewards and Crude consumption. In the initial setting, node rewards account for 80%, and Crude consumption accounts for 20%. The specific proportion will be decided through REI DAO Voting.

The users stake $REI to vote for the nodes, and the on-chain smart contract will comprehensively calculate the amount of Crude that the user can get every day according to the amount and duration of the staking. Crude can be used to offset the gas fee. When users trade on REI Network, they will consume their Crude first. If there is no Crude, then they will consume their own $REI. If the users just stake and do not trade, the Crude in the account will be emptied every 24 hours, and Cude cannot be transferred.

The Crude consumed by users every day will be collected in the Fee pool, which will be uniformly converted into $REI every 24 hours and distributed to each node according to the proportion of block packaging. This part is another reward that Super Nodes can obtain in addition to the block-producing reward.

All details of our proposal can be found here: https://forum.rei.network/t/consensus-check-rei-dao-2-proposal-introducing-free-stake-module/67