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The Stonk SocietyThe Stonk Societyby0x4E2CC19317d23680AAfE52189491D12F890c3c02rahulkumaran.lens

Stake Stonks For $DMD Rewards

Voting ended almost 4 years agoSucceeded

This proposal is with regards to allowing staking of Stonks on Dark Matter Defi for their native token $DMD.

The team at Dark Matter DeFi has agreed to allow for staking of Stonks on their platform to earn their native $DMD token as rewards, provided we add their Founders Token holders to our profit sharing model.

The total emissions of this pool would be $5000 in DMD tokens being given out over a period of 2 months => $83.33 per day in emissions

Currently profits are split among 3333 Stonks. If we want DMD to allow staking of Stonks, we'll have to include their 169 pieces Founders Token collection into our profit sharing model. This means, instead of profits being split 3333 ways, profits will be split 3502 ways. However, the profit sharing would NOT BE FOREVER. We would be sharing profits with our 169 DMD friends for just 1 year.

To give you a perspective of how this would look - the last cycle we had generated profits worth 3162 FTM that was split between 2864 Stonks giving about 1.1 FTM profit per Stonk. If the 169 Founders Token NFTs were also included, then we'd have had to split the profits among 3033 Stonks + Founders Tokens leading to a 1.04 FTM profit per Stonk/Founders Token.

Although 1.04 FTM is lesser than 1.1 FTM - the potential to gain direct DMD rewards just by staking Stonks and the potential upside of DMD itself must be taken into consideration as well.

We believe that this would add additional utility for Stonks itself and another source of revenue for holders of Stonks, while also helping us take off more Stonks from the secondary markets and maintaining a gradually rising floor.

One point to note is that - even if we decide to reinvest profits a particular month(as mentioned in our discord already - it'll be decided each month through a vote), the holders of Founders Tokens will still receive their share of the profits. So essentially the amount that goes into reinvesting would be the share of profits from Stonks itself(which would be about 95% of the holders profit allocation).

PROPOSAL

  1. Stake Stonks for $5000 worth $DMD emissions for 2 months ($83.33 per day)
  2. Share profits with our DMD friends(Founders Token NFT holders) for 1 year.

Please vote on your preference below so that we can accordingly take action on this proposal.

Off-Chain Vote

Let's go with staking
725.86 98.2%
No staking required
13.14 1.8%
Download mobile app to vote

Timeline

Feb 18, 2022Proposal created
Feb 18, 2022Proposal vote started
Feb 20, 2022Proposal vote ended
May 27, 2024Proposal updated