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Unifi Protocol DAOUnifi Protocol DAOby0xf6Fd1FF727Ec6a678a35b993E85eFE529AEa74030xf6Fd…7403

[Core] Harmony Staking

Voting ended almost 4 years agoSucceeded

Unifi Protocol would like to suggest a change to the way we operate our staking node on the Harmony blockchain. We will be utilizing our DAO function to make the necessary updates. Currently, the Harmony staking node has to be updated manually in order to change the number of slots that we bid for. Harmony staking operates by validators making bids each epoch (~ every 18 hours) based on the number of slots you want and the amount of ONE delegated to you. It can be challenging to bid on each epoch, even with extreme vigilance. Unifi Protocol would like to propose we change our practice to use an automated system (HMY Bidder) to better manage the node performance. By automating this, we will be able to provide better and more consistent rewards on Harmony. This will become more important as UP Version 2 is rolled out and the underlying ONE backing the UP is put to work.

Unifi is currently in danger of being unelected as a node operator.

We are proposing 3 options to be voted on for future operations.
  1. Change our node to use the automated process using HMY Bidder.
  2. Make no change and stay with 2 slots, at risk of being unelected. This would give
    better rewards when both slots are elected, but no rewards if we are unelected.
  3. Move to 1 slot and take away the risk of being unelected. This would provide consistent rewards at a lower rate.

Off-Chain Vote

HMY Bridge
61.39K UNFI97.7%
No change
0 UNFI0%
Move to 1 slot
1.45K UNFI2.3%
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Timeline

May 10, 2022Proposal created
May 10, 2022Proposal vote started
May 20, 2022Proposal vote ended
Oct 26, 2023Proposal updated