search

dev-protocol / DIPs

📋The Dev Proposal repository
MIT License
11 stars 7 forks source link

Incubator #23

Open defi-er opened 3 years ago

defi-er commented 3 years ago

Dev Protocol: Incubator

Incubator definition:

An enclosed apparatus providing a controlled environment for the care and protection of premature or unusually small babies.

Dev Protocol should onboard projects ourselves that are valuable from a technical and marketing aspect. Dev Protocol will then stake DEV tokens which will be an exclusive feature for the team. Emails will be sent to the incubated team on progress of incubation to encourage them to authenticate. When the team authenticates they can then withdraw rewards. Dev Protocol will burn team rewards to offset DEV generated in incubation state. This will increase the value proposition for teams to join and authenticate.

  1. Incubation follows the current market APY

  2. Incubation doesn't increase minting per block

  3. Incubation staking, by DEV team, doesn't affect APY

  4. Creator reward must equal staking reward 4.1 If creator rewards equal staking rewards, and creator rewards are burned, then APY should remain intact.

General Technical Implementation

  1. Whitelisted pool only for team's wallet address
  2. "Oracle" that fetches current market APY to calculate rewards
  3. Burn stakers rewards upon withdrawal
  4. Incubator follows traditional specs upon authentication
aggre commented 3 years ago

@defi-er Thanks for the proposal. I, too, think we need an incubation program like this one.

Next, I have a few technical comments to make.

Incubation follows the current market APY

It is possible to simulate a perfectly matched APY by on-chain without using an oracle. (Any contracts can call Dev Protocol's inflation calculations as well)

Incubation doesn't increase minting per block Incubation staking, by DEV team, doesn't affect APY

That suggests that smart contracts for this program should decouple from the protocol.

The team needs to deploy independent contracts for the incubation program, and that is ideal.

Therefore, I think it would be ideal for incubated creators' rewards to be allocated from the current team balance. That way, the impact on APY and inflation would be zero in principle. Also, creator rewards would receive as creator rewards, not staking rewards. By authenticating more quickly by creators, the team can keep the budget burn rate down.

Next, here's a list of things that might involve development:

defi-er commented 3 years ago

Therefore, I think it would be ideal for incubated creators' rewards to be allocated from the current team balance. That way, the impact on APY and inflation would be zero in principle. Also, creator rewards would receive as creator rewards, not staking rewards. By authenticating more quickly by creators, the team can keep the budget burn rate down.

Sorry, I should have mentioned this. I intend for these funds to come from the marketing allocation as that's the most appropriate. Dev Protocol is in a unique position to use staking as a marketing tactic. Therefore, the team will very rarely sell DEV tokens for marketing.

defi-er commented 3 years ago

A simple webpage for the incubation program (Stakes.social cannot list unauthenticated pools)

Stakes Social can't be modified to allow unauthenticated to generate rewards if staking is done from team wallet? What's the benefit of creating a new interface rather than modifying Stakes Social?

aggre commented 3 years ago

Stakes Social can't be modified to allow unauthenticated to generate rewards if staking is done from team wallet? What's the benefit of creating a new interface rather than modifying Stakes Social?

@defi-er First of all, that is possible. The reward calculation logic is inherently different because it's separate from the protocol (however, incubation has the same APY as the protocol). That's why I thought things with different backends should have a different look and feel. But yes, it is possible to build a different look and feel into Stakes.social.

defi-er commented 3 years ago

Incubators should also require that the redeeming party shares pre-written tweet.

Example: "Github Repo just joined Stakes.Social. Click this link to start supporting them."

When users click on this link an overlay will open describing what Stakes Social is.

defi-er commented 3 years ago

Enhancement: Fix yield arbitrage by formulating (on-chain APY - unrealized staked DEV in incubator)