DAO Vote #4: DIA Staking Program
The DIA team opens a new DAO proposal for the community to vote on a new staking program to reward long-term token holders and create positive supply and price effects.
Update 16.04.2021: DIA’s team proposal has successfully passed with 101.14k “100% Decentral” DIA votes.
Overview
The DIA team proposes to offer a new staking program for the DIA community. The program will enable DIA holders to earn yield in DIA tokens by locking DIA tokens in an interest yield contract. The program will allow investors to allocate tokens to a smart contract that will yield varying yields in DIA for runtimes of 9, 12 or 24 months, respectively.
The program is designed to reward long-term DIA holders as well as generate a positive impact on the circulating supply and price of the DIA token.
Program details
- Investors can allocate a maximum of 300.000 DIA tokens to the DIA Staking Program across all runtimes. Participation orders can be partially filled, depending on the availability of the program.
- The DIA tokens participating in the staking program will be locked in a smart contract and distributed after the program finalisation. This will provide transparency and mitigate the possibility of an over-collateralization.
- We also open the possibility of voting for the DIA Staking Program to be hosted via Binance savings, in part or completely.
- Participation in the DIA Staking Program will be possible in the week after the vote finalisation, date TBC. Participation will be available until 30. June 2021, 23:00 CEST.
Staking determination structure
A total maximum of 300.000 DIA tokens can be allocated in the program between all participating DIA holders. The interests displayed below are the interest calculations for the whole pool of 300.000 DIA tokens of the staking program.
Methodology
(Principal + Interest)
A = P(1 + rt)
Where:
- A = Total accrued amount (principal + interest)
- P = Principal amount
- I = Interest amount
- r = Rate of interest per year in decimal; r = R/100
- t = Time period involved in months or years*
*following the 30/360 day count convention method.
→ All program details can be found here.
Proposal and Voting Details
- Voting is enabled starting Friday, April 9: 15:00 UTC
- Voting ends on Friday, April 16: 15:00 UTC
- In order to participate in the vote, DIA tokens must be held in self-custody. DIA tokens held on centralised exchanges are not eligible to vote.
To Vote:
The DIA community may vote to launch the staking program using the DIA Snapshot page. The voting options include launching the program with a dedicated smart contract, via Binance Savings, or a mix of both. There is also an option to vote against the program.
- 100% decentral (300.000 DIA tokens)
- 100% in Binance (300.000 DIA tokens)
- 50% decentral and 50% in Binance (150.000 DIA tokens each)
- I am not in favor of launching a staking program
This is the link to the proposal:
https://snapshot.org/#/diadao.eth/proposal/QmPF7vjfmFAvVDr4EexktMxqQ4MEk1W2T5pyZhcY544Wfy
Note:
- If the program fails to redeem any smart contract on its due date, interest on the smart contract will accrue beyond the due date until actual redemption of the smart contract at the default rate of interest established by law.
- No additional interest will accrue if later payment is made in accordance with the provisions regarding payments due on a day other than a business day.
- Stake generating DIA tokens are not eligible for governance participation during the time locked up in the smart contract.
