Official Merit Polls (MPs) are a way to get direction on new MIPs. Some MIPs have a high degree of complexity and/or importance, these will be guided by official polls. By running these polls, we can get better input for the various variables that need to go into the official MIPs. The outcome of polls will not have any direct or permanent implications; they will only form input to the MIP drafts. Only a Merit Improvement Proposal (MIP) that is voted in will have direct implications for the DAO. The voting weight is the same as with MIPs; MC, MC/ETH, sMC and sMC/ETH are eligible to vote with the largest weight to sMC/ETH and the lowest weight to unstaked $MC.
Choice of LP staking length in the new staking v2 module
- Merit Circle Core Contributors
Second official poll for the staking v2 discussion. See first poll results here:
A discussion that should ultimately lead to a MIP that outlines the design and execution the new staking v2 module.
Main discussion topic:
Poll 1 decided the main LP pairing asset should be USDC. Meaning the LP pool will be MC/USDC.
The pool will be an Uniswap v2 or v3 pool on Ethereum. The pool will have a ratio of minimally 50% MC and maximally 90% MC (vs 50% to 10% of the pairing asset).
The current pool is a MC/ETH 50/50 Uniswap v2 pool. The old pool is phased out, current v1 stakers do not have to worry. They will receive similar relative proportional rewards, until the last staker is unlocked (1Y from new pool launch).
The new pool will accrue the majority of the dividends and subsidies the protocol will attribute to stakers (currently 80%). The pool will exist next to a single staking $MC pool, that also receives part of these staking rewards (currently 20%).
The LP stake can be locked for 0-48 months. The longer the lock, the higher the rewards for the staker. The bonus multiplier will be either linearly or exponentially.
LP tokens will retain a similar voting weight as they have currently in the V1 system.
Locked stakers could also get secondary benefits, such as airdrops from (partner) games or platform fee discounts.
How long should people be able to lock their assets ($MC/USDC and $MC) in the staking v2 module?