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RuGenerous DAORuGenerous DAOby0x521F3c2E21c9ca24466FEE616F2E5Ce561C89FE60x521F…9FE6

RIP #11 - Add 6,6 stake pool to RUG

Voting ended about 4 years agoSucceeded

TLDR / SUMMARY: 1: Stake your RUG to get sRUG ( 1 RUG = 1 sRUG ) 2: Wrap your sRUG to get wsRUG ( wsRUG = sRUG / index ) 3: Stake Your wsRUG to 6,6 stake pool to get additional APY ( wsRUG earns % return, which is compounding on top of your 3,3 sRUG compounding )

DETAILS / WHY: The price of RUG is hugely affected by those who leave the 3,3 stake and dump or trade. RugDex has taken strides toward solving this by reducing the price impact of trades which is great, but we can do more to encourage more 3,3ing and long-term stake.

This 6,6 proposal aims to help stabilize RUG price even further, help with DAO growth, and incentivize long-term additional staking by rewarding those who participate in the 6,6 pool. Further reinforcing the 3,3 & 6,6 mentality to stay staked in the DAO.

Essentially, everyone who stakes their RUG in the traditional 3,3 pool gets sRUG as usual. They can then wrap their sRUG to get wsRUG which can then be staked in an additional 6,6 pool to earn additional returns ON TOP of their already compouding gains.

In order to participate, you'd commit your stake to a set time period (say 5days, similar to bonding), you can leave at any time, however you'd be penalized for early release. That penalty would be rotated back to reward those who stayed in the 6,6 pool.

This incentivizes long-term staking, while penalizing early exit. In turn, this encourages more hodling and hence stabilizing price.

MORE INFO: MetaversePro has recently implemented this, which is where the idea came from. I take no credit for this concept.

To learn more about how their implementation works, See their docs: https://metaversepro.gitbook.io/metaversepro/app/stake-your-meta-6-6

Off-Chain Vote

YES - Add 6,6 to RUG
10.29K 38.5%
NO - Don't add 6,6 to RUG
2.56K 9.6%
WAIT - Watch MetaversePro first
13.9K 52%
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Timeline

Dec 14, 2021Proposal created
Dec 14, 2021Proposal vote started
Dec 24, 2021Proposal vote ended
Oct 26, 2023Proposal updated