Proposal for GuildFi ($GF) Staking Program v2
Dear GuildFiers,
After 1 week of discussion with our community on the original proposal, we are pleased to put up the following GuildFi Staking Program v2 proposals for voting:
- Proposal 1: Do you want to launch v2 staking, with reward allocation of 30m GF tokens amongst GF single and LP staking?
- Proposal 2: Which liquidity pools do you want for staking, i.e. GF-USDC, GF-USDT, and/or GF-ETH?
- Proposal 3: Do you want the maximum lock period for staking to be 52 weeks (1 year), 108 weeks (2 years) or 208 weeks (4 years)?
We will be using the Snapshot voting platform: https://snapshot.org/#/guildfiworld.eth
Voting will take place from 7 December 2022, 13:00 (UTC) to 13 December 2022, 7.00 (UTC).
This proposal aims to provide GF token holders the opportunity to share in the success of the GuildFi project by rewarding our users with additional tokens in a sustainable manner and other benefits such as priority in our partners’ whitelists.
Guiding principles for the new staking program, incorporated with feedback from the GuildFi community:
- 30m GF tokens as rewards will be proportionately split between the new and existing staking program based on Total Value Locked (TVL).
- The new staking program will have a significantly higher APY to encourage stakers to migrate to the new pools.
- In the new staking program, the reward ratio for GF single-staking to GF paired liquidity pools (LP) will be 30:70 or 40:60 or 100:0 (i.e. no LP), depending on the voting outcomes.
- APY for the LPs will be higher than single staking pools as a reward for providing additional liquidity, and to compensate for impermanent loss risk.
- APY for both single staking and LPs will range from 30–50% depending on staking duration and Total Value Locked (TVL), which is more sustainable in the long-run
- Rewards will be locked with initial capital, auto-compounded and unlocked with the main capital when staking period ends.
- Stakers will have the flexibility to increase the amount staked and locked period at any time.
- The longer users stake, the higher the reward APY, with multipliers up to 50x for the maximum duration.
More details on the voting process:
- Only GF, and sGF token holders (those who are staking GF in the current staking pools) are eligible to vote.
- One GF, and sGF (derived from the time weighted amount of GF tokens staked) is equivalent to one vote.
- Only GF, and sGF tokens held in on-chain wallets will count, i.e. those held on Centralised Exchanges will not be included.
- A minimum threshold of 1 million GF and sGF votes is needed to be met in order for the proposal to take effect.
- A simple majority of the votes will be required for the proposal to take effect.
- If (4) and (5) are not met, the proposal will be considered void and the GuildFi team will revise the proposal with feedback from the community, and put it up for discussion and voting once more.
Note: All locked tokens from GuildFi’s investors, advisors, team and ecosystem funds will be excluded from calculations.
Update on voting outcomes as of 14 December 2022, 07:00 (UTC):
Proposal 1: Do you want to launch v2 staking, with reward allocation of 30m GF tokens amongst GF single and LP staking?
We will proceed with launching v2 staking, with 30% of 30m GF token rewards allocated to staking GF, and 70% to GF liquidity pool staking.
Proposal 2: Which liquidity pools do you want for staking, i.e. GF-USDC, GF-USDT, and/or GF-ETH?
We will proceed with providing the GF-ETH liquidity pool for staking.
Proposal 3: Do you want the maximum lock period for staking to be 52 weeks (1 year), 108 weeks (2 years) or 208 weeks (4 years)?
We will proceed with a 52 week maximum lock period for staking.
About GuildFi
GuildFi aspires to create a Guild 2.0, an interconnected ecosystem of games, NFTs, and communities, to maximize players’ benefits and enable interoperability across the metaverse. GuildFi solves the discovery and access problems for players while enhancing their performance and maximizing their rewards. Players’ engagement and achievement are no longer discarded and limited to specific guilds or games, but instead, contribute towards their ranks and elevate their benefits in the long run.
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