The Crypto Unicorns DAO has seen record RBW staking with its high APY to date. While a reward for staking and governance participation is important we believe the DAO is overpaying significantly. To correct this we are proposing a series of changes including an overall reduction in emissions as well as a reallocation toward the RBWLP pool.
It’s clear from an analysis of on-chain behavior that a large portion of stakers simply farm and dump their RBW rewards. They do this at a much higher rate than active players. While Staking v2 takes an important step toward directing staking rewards toward active and engaged players we still think the APY is too high. This creates imbalances and unnecessary headwinds in an otherwise healthy in-game economy. Our goal isn’t to reduce emissions, but rather redirect them through a series of proposals to properly reward the active player base in a sustainable manner
We propose reducing the single side staking rewards by 75% from 690,410 to 172,602 RBW/week. Single sided stakers are being materially overpaid for their contribution. While governance participation is certainly important, those that want to participate are already being rewarded by having an increased voting weight. The high yield mostly benefits the dumpers.
In tandem, we propose increasing the RBWLP rewards by 100% from 78,211 to 156,422 RBW/week. It’s critically important to increase secondary market liquidity to accommodate new player growth.
Both of these changes combined lead to a net reduction in RBW emissions of 439,597 per week. These changes are simple to implement and require only an operational change.
We think weekly or monthly leaderboards would be a more productive way to redirect emissions towards active players. These can include:
*Most jousts Won
*Highest rated jousters
We believe these types of leaderboard based rewards are more economically stimulative than purely quest based ones because of the transactional nature of quest based rewards. Whereas leaderboard based rewards can have a much higher ceiling in terms of impact.
The first half of 2023 is critically important for the Crypto Unicorns DAO. We must inflect growth and activate the economic flywheel. The current emission plans need to be recalibrated to reward the more deserving player base and bolster the economy to sustain the coming demand. We believe this proposal best positions Crypto Unicorns for the coming growth we hope to see with the launch of Jousting, Unicorn Party, TeamRPG, Tribes, and more over the course of 2023.
Hey all, really appreciate all the feedback you’ve provided. We understand the concerns from the community that the staking emission reduction could be viewed as taking rewards away from the community, which is certainly not what we want. What we can to curb those concerns is shift those emissions to leaderboards. That way it’s still going to the community, but it’s going into the hands of the active userbase instead of the passive one.
The specifics of how much each type of leaderboard should be rewarded can be figured out in another proposal.