$STRC Locking and Supply Control

After the airdrop, the activity of $STRCs is expected to decrease. To address this, we propose implementing a locking mechanism. Users can choose to lock their $STRCs for periods such as 3, 9, or 12 months, which would provide them with an extra boost. The score coefficient on the leaderboard can be increased based on the duration of the locking period. This mechanism not only helps control the token supply but also helps maintain the value of $STRC.

Additionally, we suggest introducing a feature called 'veSTRs' using STRUCT native tokens, similar to the vePTP system on Platypus Finance. As long as a user's $STRCs remain locked, they will accumulate veSTRs, which are non-transferable and have no sellable value. These veSTRs would increase the extra Annual Percentage Rate (APR) they receive from the pool.

However, one potential downside is that if there's an overwhelming demand to lock $STRC, it may become overvalued, resulting in newer users receiving less extra boost compared to older users. To mitigate this, we propose implementing an algorithm that calculates the veSTR gain based on the total $STRC supply and the amount of locked $STRC. If the locked $STRC rate is high, users can earn an average veSTR by locking fewer $STRCs. Conversely, if the locked $STRC rate is low, users would need to lock more $STRCs for an average veSTR.

Once the lock period expires, users can freely use their $STRCs as they wish. Overall, this locking mechanism coupled with the veSTR system would incentivize users to lock their $STRCs for longer periods, thereby stabilizing the token value and promoting sustained activity on the platform.

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Status

In Review

Board

πŸ’‘ Feature Request

Date

About 2 months ago

Author

An Anonymous User

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