Proposal type:6 [PROBE]: HAPI Staking Mechanics Discussion

HAPI Protocol
1

Description:

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Staking contract. APR from 4% with staking > 0 to 10% with 900,000 HAPI staked tokens, APR changes linearly. With more than 900,000 staked tokens, HAPI - APR remains at 10%.

Virtual nodes receive 10% commission from rewards from all HAPI tokens delegated to the virtual node. Before an ordinary user delegates HAPI tokens, he needs to specify to which virtual node he delegates his tokens. Users can place a maximum of 25,000 HAPI tokens on one virtual node.

Users can contribute any number of HAPI tokens to the Staking Contract.

The accrual of awards is carried out according to a schedule measured by special periods of time called epochs.

One epoch has a duration of 24 hours. The activation of staking and the accrual of rewards begins two epochs after staking tokens. An ordinary user can request an unstake of their HAPI tokens, the unstake period is 7 epochs.

Users can unstake any number of HAPI tokens. Stake rewards are credited to the balance of the internal account, while there is no “auto-compound” function. Received rewards are not automatically staked on virtual nodes, but the user can manually reinvest the rewards. One user has the right to delegate HAPI tokens to no more than three virtual nodes.

If the user decides to launch a virtual node, he must contribute 1000 HAPI tokens to a special staking for a three-year period and sign a public offer that he becomes a virtual node operator. At the same time, 1000 HAPI tokens are placed on the HAPI Foundation virtual node.

In the event that an ordinary user stakes 1000 HAPI tokens or replenishes a previously staked stake up to 1000 HAPI or more, he does not automatically become a virtual node operator and can still unstake tokens within seven epochs.

If, after three years, the virtual node operator decides not to continue the offer and its work as a virtual node operator, then all users delegating their tokens to this node will automatically switch to the HAPI Foundation virtual node.

Objective of the topic:

Decide and discuss whether this type of staking is acceptable.

4 Likes
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Posted to Snapshot:
https://snapshot.org/#/hapione.eth/proposal/0xaa163edb0e50a976eaeed14918ca89b17f9dcda7affbf63301afac035ad3a08e

The voting will end in 20 days (Feb 1).

1 Like
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i think it’s a great plan for the long term, I definitely agree

2 Likes
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Love the proposal, a few questions:

  • How is this going to get funded? Where are the tokens coming from? I know we have some from the HAI farming thing.

  • How sustainable is it long term and how long do we expect it to last?

2 Likes
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Suggestion;
Team HAPI, I have an idea for the vnodes; that node owners have option to wrap the node into an NFT or something similar so the owner can decide to sell the whole node after e.g a year if he wants. The new owner takes over the nvode and the stakers are uninterrupted it’s and business as usual for them. This way the price isn’t impacted and it gives people more flexibility. It could all be done by smart contract.

2 Likes
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I’m very much in favor of a vNode marketplace. One thing to think about though is that if there will be an expiry date that applies to all vNodes, demand for vNodes over time will decrease. We then should have an incentive in place for whoever owns the node on the day vNodes cease to exist. And all nodes should be setup to start with. First by users and then on the marketplace if not all spots are taken.

2 Likes
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Suggestion;
In order to avoid long term problems we could limit the vNode acquisition time, making it around 6 or 9 months, after that date, no more vNodes can be created. This will also generate FOMO.

What problems am I talking about? Well, not sure at all but could be the case.
If someone created a vNode in two years, let’s say in 2025, because of the smart contract, this user needs to have an active vNode for 3 years from that day. Stacking won’t last forever, we don’t know final numbers until people start stacking.

Also, I’d say no to marketplace. Keep things simple.

1 Like
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The majority will trickle from the Hai farming recesses. Initially, to support the funding, some of the tokens may be bought from the market

The duration, for now at least, is not set in stone

2 Likes
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Vnodes should be distributed to whomever is willing to bid the highest price for it.
Instead of setting 40 nodes limit it to 20 nodes with an auction to purchase with HAPI then sellable after a year or two within HAPI marketplace