New staking algorithm & upgradability.

[RideSolo]

Proposal

Most users requires to withdraw and re-stake to be able to profit from their on-going reward, this proposal aim to solve this problem by automatically computing the next reward based on their stake plus the already accumulated reward.

Actually to upgrade the staking contract a hardfork is required. As part of the proposal, the new staking algorithm will be implemented in a different contract than the contract receiving the staking reward when a blocks are mined to allow an easier upgradability of the staking mechanism.

Description

This proposal requires the implementation of a new staking algorithm, no external interaction from the users or any admin is required. The users stake and accumulated reward will be compounded to compute the next reward using a simplified mathematical formula.

Work plan:

• Designing the upgradability process with callisto team.
• Implementation of the upgradability mechanism.
• Integration of callisto governance.
• Implementation of the solidity contracts.
• Full testing of the contracts using truffle framework.
• Implementation of an ERC223 Token to track the users stake, the token will be transferable to whitelisted addresses to be able to create third party dapps that relies on staking reward to create a strong ecosystem for callisto users, or any other dapp.

Funding goal

1500 USD, one time payment, address is 0x863199C0A7Eb5c6E70E0889a93242445ee998CF4.

[RideSolo]

closing since there is no interest in the proposal.