With a few hours left for voting at the time of drafting, it looks like MKR holders are overwhelmingly against Staking Rewards. This post will attempt to gather community feedback through a brief set of polls as I attempt to figure out the best path forward. While MKR Voters’ feedback is extremely valuable here if the proposal wasn’t exciting enough for you to vote your opinion is also important!
Huge thanks to @hexonaut for drafting these questions and encouraging this post. MIP49 has occupied my headspace for the better part of 4 months now, and while I’m a bit burnt out on the subject, the danger of too much MKR out on lending markets remains a pressing concern that will need to be addressed by the community.
- I like the MIP as written
- I like the idea, but the specifics need changing
- I don’t like the idea because I don’t think it will work
- I don’t like the idea because I don’t want additional tax liability
- I don’t like the idea for another reason (please elaborate in the thread)
The next topic is Token Lockup. Many platforms offer rewards to token users willing to lock up their holdings for extended durations. Some, like Aave, offer more of a “cooldown period” where tokens must remain for 10 days once staked.
- No lockup
- Short lockup (~10 days)
- Medium lockup (~3 months)
- Long lockup (~1 year or longer)
This final question concerns the allocation amount to staking rewards. A reminder that staking rewards will be based on funds otherwise heading to the burner. This means that the system is only paying out when
flap auctions would otherwise be occurring.
- Fixed amount: 5%
- Fixed amount: 10%
- Fixed amount: 25%
- Fixed amount: 50%
- Fixed amount: 100%
- Variable, based on Governance Actions
- Variable, based on outside lending rates
- Variable, based on the amount of DAI otherwise heading for
Thank you for taking the time to vote! If there is enough sentiment I will proceed by making a FAQ for Staking Rewards and making edits to the MIP based on this feedback, and that of the large voters, should they make their feelings known.