Proposed by JakeXBT & MustStopMurad.
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
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.
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: