Specifically
To incentivize INDY Staking using expired rewards.
Changes
We propose to incentivize INDY Staking using 26327.88 INDY from the Expired unclaimed INDY rewards, distributing 731.33 INDY per Epoch for a period of 6 months (36 Epochs). This will be in addition to any rewards INDY stakers are currently receiving.
Result
This proposal will effectively nullify and replace the guidance given by Indigo Protocol as to how unclaimed INDY rewards are re-purposed and allocated.
DAMMNN thats a lot of unclaimed indy. Why not pass it back out to indy stakers.
What does this mean for the ada/indy pair on Minswap?
It’s true the ADA/INDY pool on Minswap would loose its INDY rewards incentives. The idea behind proposal 18 was to thwart a mass exodus of liquidity after the conclusion of the LBE. We can’t be sure how this will affect the liquidity of that particular pool but there are other ADA/INDY pools within the ecosystem that are receiving decent rewards without direct INDY incentives. This proposal is only set to last 6 months and we could always decide to re-incentivize an ADA/INDY pool later on if the DAO deems it necessary.
731 INDY per epoch are 30% on top of the 2398 Indy which are do receive INDY stakers.
The APR of INDY staking is going to increase from 2.47% to 3.21%.
What are you expectations of doing it for the protocol?
I believe it’s much better to use it to incentives liquidity on DEXs, because we need deep liquidity for Indy and iAssets. The minimal impact on the Indy Staking rewards won’t do anything good mid- to longterm. Indy Staking have to work surely by protocol fees.
You can’t fight inflation with more inflation. The best thing to improve $indy HRA at the moment would be new iassets or more minting of already available iasset which would increase the real yield(ada) of $indy.
We should introduce tiers to the staking rewards, ie the people who stake for longer should get a larger reward %. Boosted Staking