Fellow BalancedDAO users! Should we propose $BALN stakers the ability to delegate a weighted vote to select p-reps of our choice? Similar to $OMM stakers?
With $BALN inflation lower alongside the price, APY’s have fallen.
This would provide further benefits to staking!
The APY fluctuates, but let’s say it’s currently ~10%.
With how much $ICX that is collateralized, ~40,000,000, and approximately ~10,000,000 BALN staked, that means for every 1 BALN staked would = 4 ICX voting power!
Voting for _GangstaBet would net you $GG tokens
Voting for infiniteloopinf would net you $ICX
Voting for MyICON_IAM would net you $IAM
Depending on who you delegate your votes to, BALN staking rewards could jump considerably from 10% to 12-15%!
This allows the majority of votes to still be delegated to the BALN team while providing extra benefits to individual users who so choose.
The default votes could remain as-is, similar to OMM votes defaulting to its contributors.
It could also attract new users to the platform. Many Gangstabet owners are prioritizing delegating their votes for GG tokens that will soon be listed on BalancedDAO.
But when OMM announced such delegation support, it bounced ~15%, as it provided further utility to the OMM token and the Gangstabet users.
I could use your help! I do not have enough BALN to submit an official proposal, but Scott was optimistic about this when asked, so if the community is interested, we could make this official!
Thanks, everyone.
- SirRobin