As per the Indigo paper, LP token staking rewards are scheduled to begin on December 21st. Snapshots for rewards are taken daily. If we’re to stick to the schedule, then the first snapshot will be taken on December 17th, meaning that users will have to have staked for a minimum of 24 hours – from December 16th 21:45 UTC to December 17th 21:45 UTC.
Users receive staking rewards for the amount of time they’ve staked. If a user stakes for only 2 out of 5 days in the epoch then they get 2/5 of the epoch’s rewards. Users who stake for the full epoch are rewarded the most.
We aim to get the LP token staking deployed to the Indigo Web App as soon as possible, no later than December 16th before 21:45 UTC and ideally by December 15th. However, there are possibilities for bugs, delays, and other unknown issues. We want to give the community an opportunity to decide whether to stick to the rewards schedule as planned, or to delay for one week to allow for a less rushed release.
Should LP token staking rewards be delayed?
Yes, delay LP token staking rewards
No, continue with the planned LP staking token reward
This is CARDANO… Delay that Shit:bangbang: Do it RIGHT the first time Everytime GOOD MORNING a delay only gives us an opportunity to address any hiccups bottle necks and or issues… DELAY Only greed can lead to ruin.
You tell us Indigo Labs.
What foreseeable issues could potentially arrive?
Do yall need more time or are yall confident in your code and ready to deploy?
The team is a little mixed. Personally I’m confident that we’re ready to deploy and should not delay. I think proceeding with the original plan is the better option. Delaying causes some smart contract calculation issues with the Adaptive Quorum Biasing. These can be corrected in the future and will fall within an acceptable range intended for margin of error.
There is no problem if it has to be delayed. But if delaying brings additonal issues maybe we have to weight those issues with the actual concerns of a rushed release? Maybe we need a little more information to make a better decision.
Concerns of a rushed release include not all users having sufficient time to stake their LP tokens in the system. To counter this concern however, users have had since the beginning of the protocol launch (November 21st) to obtain the LP tokens, and they will be able to be staked at any time after the deployment of LP token staking in the web app. Users who act quickly may end up with slightly more INDY than users who act slowly. By delaying, it allows more users to act slowly and still be rewarded equally.
By delaying, the calculations for on-chain proposals will be slightly off. This is because the vesting schedule is embedded into the deployed smart contracts. The calculations will only be slightly inaccurate though, and could be changed in a future protocol upgrade. So far no proposal has been close to reaching the threshold where accurate calculation is needed, but it’s possible that there could be controversial proposals in the future that require complete accuracy.
I think it’s more important to stick to the original plan and follow the logic of the smart contracts than it is to delay, especially when there’s no technical reason to delay. It’s important that we get liquidity to the iAssets as soon as possible, which is what the LP token staking aims to do. Either way though, in the long term it there likely won’t be any significant difference either way.
Woah woah, wait a minute,
Are we voting to delay so that we can be “fair” in an event that was no secret?
Or is there an actual techincal issue that needs to be addressed?
The event was no secret but the timing was never publicized. If we delay then we can publicize an actual date. Whereas right now we don’t have an exact date and time for when the LP token staking will be deployed to the web app.
There’s no technical issue that needs to be addressed. The system is ready to be deployed, it just hasn’t been thoroughly tested. There could be some bugs that impede users from staking their LP tokens.
We just want to get community feedback to see what’s the best course of action here.
My opinion: sticking to schedule puts additional timing constraints on the team while we are also prioritizing UI/UX bug fixes, among other minor issues since launch. We want to test this as much as possible prior to pushing this feature to mainnet. Crypto is an industry where chronic delays are a thing. Indigo Labs, for what we’ve been responsible for, has been very timely and have followed through on any expectations we’ve set with the community. That timeliness is something we want to keep, but not for the sake of undertested deployments of any new features, such as the one in question here. 5 day delay is hardly much delay at all and will ensure we have the opportunity to serve the community to the best of our ability.
Delay, give team some testing flexibility. I for one was not able to vote (out of sequence bug pic below) and its frustrating when small things like that are not tested beforehand. Taking care of these small bugs makes it easier to onboard the public who is new to Cardano. Something like the bug below is a huge blow back on progress for this app.
GOOD MORNING a delay only gives us an opportunity to address any hiccups bottle necks and or issues… DELAY 