I’m definitely in favor of this kind of construction. To make it more attractive I would put a mechanism in place to limit the percentage of BNT that could earn staking rewards.
Lets say total supply is 100M BNT.
Start with max of 25% being able to earn staking rewards.
Staking your BNT also gives you voting rights for DAO.
Weekly rewards distributed
Pool = full, you can still stake, which gives you voting rights for DAO and if people leave you’ll start earning staking rewards.
Open for suggestions of course. We could even start a proposal to implement staking after deficit is fixed. This could be a reason for new investors to start holding BNT.
But once the maximum limit is hit of total BNT allowed to be staked, then that might deter people from wanting to own it. But still good to hear new concepts and ideas and lets keep bouncing ideas around and see what sticks
we could also implement a feature, where in order to qualify for staking rewards, you must have participated in DAO voting ( or something along those lines ) so that this can also help further decentralise bancor by increasing voter turnouts… which most DAOs need.
This next idea might seem unfair…I’m not sure if the bancor foundation owns any BNT, but I would also like to not allow the bancor foundation to be able to take part in the staking rewards. Feel free to disagree and say why
I feel every owner of BNT should be able to stake, no exceptions. The foundation would use the rewards for developing.
To prevent people from missing the boat a few things could be implemented:
If you stake, but there’s no place available in the pool you will (automatically) get a spot once people leave (FCFS).
We could implement a monthly or quarterly vote to expand the pool capacity with x percentage. You might would think stakers that are inside would vote against that, but it could be in their benefit as well if the number of tokens locked in staking gets up.
I like the participation in voting idea, but I would go for an extra incentive to vote (ie. less rewards if not actively voting).
Plenty of things to debate. Would love to see a wider topic on this with involvement of everyone.
with the whole pool cap idea, I still stand by my opinion on that idea that the pool will fill up quickly, and once its full, the incentive to want to own it will dwindle down. Anyways lets keep running ideas off each other and hopefully hear new ideas from other community members.
I like this. Earning a piece of TKNs would provide the staker with potential upside in TKNs, but during a winter it would not incentivize me to buy BNT and stake it. Earning a fiat, for all their issues, is still what the real world buys and sells goods (and crypto) and services with; therefore, I don’t see a more attractive incentive.
A cap on how much BNT could be staked is an excellent idea. You create scarcity and potentially empower smaller stakers who are actively participating in the ecosystem.
Great way to incentivize BNT holders to vote, and give likely smaller holders who are actively participating in the ecosystem a real seat at the table.
From my perspective this is very important. The Foundation BNT should be explicitly disallowed from staking. Staking is meant to create demand for BNT through new buyers. If the Foundation actively purchased BNT in a significant % of its existing holding then I would consider the matter more carefully, but I assume the Foundation has not made significant open market purchases of BNT within the last year or more.
Fair point. Perhaps a limited staking allocation could be opened for the Foundation. However, I think to drive BNT demand we need the majority of staking to be available to the general public, not the Foundation. I’m thinking like 90/10 split between public and Foundation.
So then, why no automatically sunset stakers so more can share in its benefits? This could both increase demand not only to buy BNT but also to hold BNT to get in line immediately to restake at the earliest opportunity.
That no one from the contributors even comments in this thread speaks volumes about their plans for the BNT token. I start to doubt there will be new features anytime soon.
14 days later and still all the paid contributors keep ignoring the communites outcries for a future of BNT. Amazing, ignoring BNT is the way out of the deficit for sure, good job guys. Starting to get really pissed about the contributors lack of interest in improving BNT.
I hope someone from the foundation reads this and reevaluates if the contributors who are refusing to work still should be earning money from the ICO funds. I am sure some of this money could be better used to aleviate the deficit directly with buybacks instead of paying all this passive contributors not even wanting to engage in discussions.
And dont tell me it’s legal concern, other projects teams talk about their tokens too and they are much bigger projects with more eyes on them. Stop hiding behind the legal concerns excuse or leave the team if some legal concerns hinder your engagement in this project. Rant off
Looks like BNT won’t ever get new features as there is zero interest from contributors to discuss this. It’s a shame what this project has turned into.
It’s not just him tho. Every single contributor should do everything to resolve the deficit situation. But instead most of them won’t even talk to us. They take the foundation’s paycheck but do next to nothing or only the bare minimum.
It is unacceptable and in any serious buisness they would be long ago ousted. Instead people like Tyler who always were communicating and honestly trying to improve things get ousted for trying to push features while scared people who only care about themself not getting into jail are still receiving the foundation money. Every cent a dormant contributor gets is a cent less we can use to recover the deficit.
I don’t have much hope for this project at this point and it’s a shame as it had so much potential. But the community is almost dead by now as critical voices got banned from Telegram and Discord. Whoever is responsible for HR at the foundation should evaluate who is actually helping and who is just enjoying the paycheck doing next to nothing in return.
We spent 1.5 years since deficit without ANY new feature for BNT and we won’t even get a roadmap, it’s like they gave up. And I will be giving up soon too, no point in talking to a wall. Getting into Bancor was probably worst decision of my life, thanks for nothing.
And to end with a positive note: Thanks to Tyler and the few other contributors who genuinely tried or are still trying to improve the situation but couldn’t because of decisions from others.