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Synapse ProtocolSynapse Protocolby0x0AF91FA049A7e1894F480bFE5bBa20142C6c29a9aureliusbtc.lens

[SIP-06]: SYN Single Sided Staking

Voting ended about 4 years agoSucceeded

Full Context: https://forum.synapseprotocol.com/d/7-implement-syn-staking-in-preparation-of-pos-synapse-chain-launch

Summary

  • Implement SYN single sided staking
  • Allocate 4.5 million SYN to be used over a 3 month period as staking rewards
  • Similar to other DPoS L1s, to unstake SYN, a 7 day "undelegate" period must be undergone. During this 7d period, rewards will not be earned. Once the 7d period is over, a user then has full access to SYN has they typically would.
  • SYN rewards will auto-compound

Off-Chain Vote

Implement single sided staking
17.08M 88.5%
Continue without SYN staking
2.23M 11.5%
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Timeline

Nov 17, 2021Proposal created
Nov 17, 2021Proposal vote started
Nov 20, 2021Proposal vote ended
Oct 26, 2023Proposal updated