SIP-004: STFX Staking V1

General
1

Proposed by JakeXBT & MustStopMurad.

Background:

The STFX DAO has large ambitions with regards to token utility. The endgame vision is to have the $STFX token have a 4-fold functionality, including but not limited to:

  • Work / Medallion / XP Boosting
  • Utility / Fee Discounts / Fee Rebates
  • Revenue Sharing
  • Governance-through-Staking

In order to enact this functionality, we propose developing a staking mechanism for the $STFX token which incentivises users to time-lock $STFX in a staking contract and receive $gSTFX in exchange.

The defining principle is that staked $gSTFX should accrue outsized economic benefits and utility features, and holders should be given optionality on the duration and rewards of electing to stake their $STFX tokens into $gSTFX for variable periods of time. Longer maturity tokens will accrue benefits at a higher rate than shorter maturity, to properly align time preference.

Proposal:

Explained as part of a 1-page whitepaper produced by both proposers. This proposal was discussed extensively with the STFX community and their feedback was incorporated:

STFX_Staking_V1
STFX_Staking_V11920×2485 295 KB

4 Likes
2

How do unvested tokens work within this framework? (i.e. Seed et al)

3

I can’t see where to vote (1st time), would someone care to explain? Thank you!

4

Hi Jason,

As part of this proposal, unvested tokens wouldn’t form part of this framework, since the intention is for $gSTFX to accrue many of the benefits of the platform including fee sharing later on for which inclusion would significantly dilute value for liquid $STFX holders.

5

Hi @General.Krang,

Voting will take place on the STFX snapshot early next week, this forum is designed to be a place to discuss and modify the proposal before voting goes live.

6

This proposal has proceeded to Snapshot vote at:

https://vote.stfx.io/#/proposal/0x2fa1f0f2258edfff6cd312275eae15fa576ddcb2d0dce0dfff82fc8a8a257431