Proposal #16: Extend Advanced Staking
This proposal introduces the initiative of extending the “Advanced Staking” program for another two months, with stakes to be accepted till October 22, 2023 and rewards to be accrued at the APR of 15% for the locking period of 60 days.
Therefore, the new staking cycle to be started with parameters stated in the “Terms for smart contracts” section.
Background
The initial “Advanced Staking” program was launched via PIP-9, PIP-10, and prolonged via PIP-13. The extended Advanced Staking program is valid till August 22, 2023 and the corresponding rewards are to be calculated for the same period.
The community proposes to launch the new cycle ("program") prior the completion of the previous program (activated via PIP-13) that will be stopped simultaneously with the start of the new one.
The remaining $ZKP tokens originally allocated as staking rewards according to proposals PIP-9 shall be used to source rewards under the new program.
As discussed on Panther’s Discourse forum, the community recommends running a new cycle of the “Advanced Staking” program (AS3), with parameters stated below in the “Terms for smart contracts” section.
This proposal (1) authorizes updates of the current UI which introduce the new staking terms as described below, (2) autorizes and triggers the execution (via Panther's space on Snapshot.org and the Reality.eth oracle) of the attached blockchain transactions listed below under Annex, deploying and configuring Panther's smart contracts to launch AS3.
Terms for smart contracts
It is proposed to follow the below parameters for extending the “Advanced Staking” program:
| Parameter | Description |
|---|---|
First day stakes are accepted | As soon as relevant PIP is passed and executed.
|
Last day stakes are accepted | October 22, 2023, 12:00 am UTC, or earlier if “Amount of $ZKP allocated for rewards to all stakers” below has been already depleted, or earlier if Panther’s mainnet beta is launched beforehand. |
Amount of $ZKP allocated for rewards to all stakers | The remaining part of rewards, which were allocated according to PIP-9 and used during two cycles of the Advanced Staking program. |
Number of days the staked $ZKP remains locked after stake creation | 60 days |
Reward formula, where: Reward - reward for a stake ($zZKP) Amount - amount staked ($ZKP)APR - Annual Percentage Rate (%) Period - rewarded period (days) | Reward = AmountAPRPeriod / 365 APR - 15%, Period - 60 days |
Minimum $ZKP amount per stake | 1000 |
Time since when a staker might withdraw rewards from the MASP (but forfeiting the right to accumulate PRPs | Immediately after the stake is created. |
Proposed Actions
Approve all parameters included in the sections “Terms for smart contracts” and “Community Deployment Rewards”.
Authorize UI code updates to implement new terms,
Authorize and execute on the Ethereum Mainnet and Polygon network the deployment and configuration transactions described in the Annex, to achieve the terms for the AS3 program to be those outlined in the section “Terms for smart contracts”,
Request the Panther Foundation to configure the pantherprotocol.eth namespace so that the URL https://ipfs.io/ipns/pantherprotocol.eth will point to the updated UI deployed on IPFS.
Participation
Please vote to accept or reject the proposed actions detailed above.
As per the existing DAO governance structure, as the staking smart contracts are not currently issuing any rewards, you need to hold $ZKP, staked or not, on the Ethereum Mainnet or Polygon to participate in voting.
Voting power is calculated by Snapshot.org taking a Snapshot of the number of ZKP tokens per holder at the block within which the proposal was created.
Full proposal details
The full details of this proposal are visible in raw Markdown format on IPFS.
Last updated