Create a staking tab which would allow to stake single side KAR
-Allocate 4,000,0000 KAR out of the rewards reserve for staking reward for a period of 6 months,
Before All, I would like to mention that I have been part of the project’s community from the Mandala festival, and I’m a big believer in the approach and the vision of the team going forward.
One of the main things I’m supporting is the democracy and governance system (some is already in place, some is expected to).
With that said, like in any functional democracy- criticism can and should be made, this is not in order to create FUD, but rather to put things out on the table and to try to find solutions in order to keep the community core happy and drivin moving forward.
Due to the fact the following numbers are slightly concering-
- DEX TVL on Ausust 20th was 32.5M$ Pre LKSM and BNC pools. This is still the TVL of the DEX, even a bit lower.
- PHA was suggested to be added 74 days ago, we have not recieved any technical update from either teams.
- SDN was suggested to be added 48 days ago, same as above.
- New KAR wallets created per day is on a massive decrease.
- Over the course of the last 3 months, BTC, ETH, KSM, DOT have been on a bullish run whilst KAR token is on a negative trend and does not show signs of growth but rather is under a lot of selling pressure.
- KAR use cases are rare to non existent. Kar is not a must have token for the DEX (due to bring-your-own-gas), Governance voting is rare and mostly technical, and LP’ing is only optional with 2 pools-
KSM/KAR- most crowdloan participents are already exposed to KSM price movement with their original contribution.
KAR/KUSD- Low risk/ reward pool.
Bette mentioned the other day that we might re-visit the original tokenomics and explore an option of changing from a Fixed supply to Inflating economy (which would be blessed imho, at least for the first few years).
My suggestion is the following-
Allocate 4% out of the 10.25% rewards reserved to KAR single side staking purpose, i.e - 4,000,000 KAR.
Create a staking dashboard which would start with a starting APR of 50%, that can be decreased down to 30% as the number of KAR in staking grows.
(APR’s were calculated in accordance to KAR tokenomics, release/vesting Schedules, and taken in to account tokens in CEX’s).
have the pool run for a period of 6 months or until the allocated amount of tokens are distributed (they should be approximetly in the same time).
Optional- Allow only Karura’s crowdloan participents to take part (this has its pros and cons, would love to hear opinions on it).
Why should we vote yet to this?
- Rewarding loyal hodlers of KAR and keeping the token holders happy even if KAR is losing value.
- Allowing more time to mature technically and introduce new innovations.
- decrease selling pressure and create a strong usage for KAR.
- Allowing time for the team to consider the original fixed supply tokenomics and write a possible suggestion to change it.