Discussion: Staking v2

My 5 cents: I don’t think single side MC staking makes any sense - just paying people for not selling (here I agree with Cobie’s article).
LP pools are useful (provide liquidity) and should be with max priority to ETH - just because whatever the liquidity is the pair MC/ETH would be much more popular on Uniswap than any other with MC. So - we can do something like 70%(ETH)/10%(WBTC)/20%(USDC) or just leave ETH alone.

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What do you think the weight for MC should be within the LP position? 70%? And 30% the other pairing asset(s)? Or you mean something else? 50/50… 80/20… 75/25?

Also in a 80/20, 75/25 or 70/30 LP pool scenario?

The pairing asset would matter less in such a scenario, I think this would also greatly improve the average liquidity depth. Since a lot of single staking will be comfortable with such ratios.

The liquidity efficiency of the pool will be lower, but the total pool will have a much larger size. Moreover, the people in the LP pool will suffer much less IL and can maintain more relative $MC exposure per $ in the pool.

A poll is now live to gauge which LP pairing asset is preffered by the DAO community. This is the first Official Merit Poll (MP-1).

Read here:

Vote here:
https://vote.meritcircle.io/#/proposal/0xbd4b35e7ef4fa6aa3d354084a6c6cde2db9f4f029554169357faf3690c3bdef4

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Uniswap allows only 50/50 - am I wrong? Or do you consider switching to another platform? 50/50 seems to be most natural, although I’m not a great theorist in this domain.

Uniswap v2 only allows 50/50

Uniswap v3 allows custom ratios. Like 75/25 (random example). Other platforms like Balancer also allow for this.

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Not sure if its been discussed yet but what happens with the current pools?
Will they be migrated or will they stay in place?

They will be phased out.

Locked v1 stakers do not have to worry. Rewards will not stop until the very last staker is unlocked. Every v1 staker will get their proportional share of rewards, regardless if you lock tomorrow for 1 day before v2 for another 12 months.

Once v2 is live, people can no longer add stake to v1 staking. They will only be able to withdraw their LP and rewards, while rewards will continue for another 12 months.

Henlo,

So we’ll be stuck with ETH LP for the rest of the year? How is this a solution? Then we’re still tied to ETH for a long while. We need a migration.

Honey

If the main pool becomes USDC, you’ll have both pools for the rest of the year. In that scenario ETH relative share will decline, until there is only USDC left. That is not necessarily a problem, most trades are routed anyway.

It is not possible to migrate a pool with a different pairing or ratio.

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Hiya Tommy,

When do you expect this new staking process to be implemented? I am asking mainly to decide on if I should stake in V1 now or hold off for V2. Thanks!

Hey there Cadet.

As soon as possible! No hard timeline, sorry.

Either way, you should not worry. We will implement a system where it should not matter much wether your in v1 or v2.

First poll concluded the LP pool should be paired with USDC. A significant majority voted for this option.

A new poll [MP-2] is now online to decide how long people will be able to lock there stake for:

Vote here:
https://vote.meritcircle.io/#/proposal/0x64a669acccf77471e8aee82ecbfdda431d4b487ca01e66b2cc4c1764b5ef97d0

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