reserved this thread for discussion.
This topic is created because we would like to propose to have a new staking reward contract to benefit the purse token holders by allowing them to be able to claim a higher purse reward. As currently, the monthly distribution pool is being shared among all purse owners including the locked purse token address.
How it works?
The 5% distribution from BDL for every transfer to a non-whitelisted address will go to this reward staking contract and users can get the purse reward just by staking their purse token to this contract.
How users will be able to benefit from it?
As the purse reward will be auto compounded, that means the longer the duration and the greater the amount of purse tokens the users’ stake, the more reward they will be likely to gain.
Do share your opinions or cast your vote below:
Firstly nice handle name, and secondly, will this staking feature be on both fxwallet and XWallet?
Also any room to allow these stakings on the XPOS unit…
There isn’t a plan for these but the staking feature will be made available on the purse token dApp: pursetoken.com if there are positive responses from the proposal.
I think the 5% distribution should include the current lp staking farm holder as well, it is because, lp provider stakes their $PURSE token.
in short, this 5% distribution shall distribute to the proposed $PURSE staking contract (single staking) and $PURSE LP staking pool
just my two cents
agree on this.
personally, i think community can vote on this and also the weight for the $PURSE allocation.
will it be 50/50 for single staking and LP staking?
LP staking is getting high APY already.
So the only single staking can get redistrbuting PURSE token.
That’s one of my suggestions in another topic, would make it easier for people participate.
The only cons, as we don’t have Web browser integration, would be give liquidity in pancakeswap.
Would need to use desktop browsers anyway.
But still a good suggestion to control in fx wallet and XWallet with a simple dapp.
And make people use more our wallets
The cons I see is that will depreciate farmers.
Give liquidity as cons, like impermanent loss.
If the rewards are the same, most will just put in polls instead of farm
But of course with time, will get a balance
I organized Function X and Fundy a little and invested in PURSE.
It’s the best after FX.
But with the handicap of imparmanent loss
LP farms have recently been created with the participation of panckesawp and 1INCH. I don’t think this is a good time to stake a purse.
I think will bring many people
LP is high risk and high return.
The LP will be a big profit if the price doesn’t fluctuate.
It’s wrong to make a high profit without taking risks.
so,Only single staking should be given redistributing PURSE token.
Regarding the purse allocation, our plan is to redistribute the 5% distribution solely to the proposed purse staking contract for single staking as the 5% distribution of approximately 12.7 million (Based on the past 30 days transactions) is insignificant compared to the current high APY that the LP staking farm provides which is equivalent to about an average of 160 million per month. Hence, this staking contract is beneficial for those purse token holder who do not want to provide liquidity.
Example of how it works:
Block 1: Alice stakes 5 $PURSE, she will have 5 receipt worth of $PURSE
Block 2: Incoming distribution of 10 $PURSE
Block 3: Bob stakes 15 $PURSE, he will have 5 receipt worth of $PURSE
Block 4: Incoming distribution of 10 $PURSE
Block 5: Alice withdraw 2 receipt worth of $PURSE, she will receive 8 $PURSE back
Block 6: Incoming distribution of 18 $PURSE
Block 7: Bob withdraw 4 receipt worth of $PURSE, he will receive 25 $PURSE back
The receipt is calculated based on the ratio of Purse Staked Amount and Total Purse Supply, multiply by Total Receipt, and how much the purse holder is able to withdraw is calculated based on the ratio of Withdraw Receipt and Total Receipt, multiply by the Total Purse Supply.
What do you guys think?
i like the idea, don’t forget that this stake should be available directly in fx wallet for more adoption
the rationale makes sense to me
LP staking and Single staking should have their own dedicated staking program serving different purposes
Since we are in agreement, will start the implementation. Overall a good sign for holders that follow progress.
Hi guys, this post is just to give everyone a heads-up that the distribution pool of approximately 47 million will be available to claim for all purse token holders, from 15 Feb to 15 Mar. Unclaimed purse will be forfeited for those who did not claim during this period. Thereafter, we will be implementing this proposed purse staking contract. Do check out the official announcement for more details.
Thanks for the heads-up