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Proposal #18: Extend Advanced Staking
This proposal introduces the initiative of extending the “Advanced Staking” program for another two months, with stakes accepted till October 28, 2023 and rewards accrued at an APR of 15% for the locking period of 60 days.
The new staking cycle will be started with the parameters stated in the “Terms for smart contracts” section.
The community proposes to launch the new cycle (“program”) given the completion of the previous program (activated via PIP-13).
The remaining $ZKP tokens originally allocated as staking rewards according to proposal 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 the parameters stated below in the “Terms for smart contracts” section.
This proposal (1) authorizes updates to 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.
It is proposed to follow the below parameters for extending the “Advanced Staking” program:
Parameter | Description |
First day stakes are accepted | As soon as the PIP is passed and executed. |
Last day stakes are accepted | October 28, 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 v1 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 for a staker to withdraw rewards from the MASP (but forfeiting the right to accumulate PRPs) | Immediately after the stake is created. |
- 1.Approve all parameters included in the sections “Terms for smart contracts ” and “Community Deployment Rewards”.
- 2.Authorize UI code updates to implement new terms,
- 3.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”,
- 4.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.
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.
The full details of this proposal are visible also in raw Markdown format at:
Last modified 3mo ago