DAO Proposal: $CGPT Staking Pool Capacity Increase
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Source: https://www.chaingpt.org/blog/may-partnership-recap-chaingpt
Staking is a key component in securing cryptosystems and building committed communities. With the existing staking modules of the $CGPT token Pools being maximally utilized and a growing number of new token holders; ChainGPT has decided to propose an increase to the staking capacity of its pools.
A new proposal has just landed in the ChainGPT DAO, named the “Increasing Staking Pool Capacities in the ChainGPT Ecosystem”, this proposal is exactly what its title implies, an expansion of the $CGPT staking modules to cater to more participants and provide utility to more tokens.
We have been blessed early on with a mission-driven community that has supported the project’s growth from every angle, including staking. From inception, ChainGPT has offered four, limited capacity, staking pools for the $CGPT token that have all been filled to the brim; over 3.5 million $CGPT already deposited.
🥩 View the Staking Dashboard here 🥩
As the project accelerates its development and social presence, demand for the $CGPT token has begun to grow. With new utilities in the pipeline for Q3 of 2023, new community members have begun arriving and they are in search of ways to contribute to the ChainGPT ecosystem.
📅 Voting Begins: June 1, 2023 @ 9:10 AM EST
📅 Voting Ends: June 4, 2023 @ 9:10 AM EST
Voting Options:
1️⃣ No Increase
2️⃣ 10% Increase
3️⃣ 25% Increase
4️⃣ 50% Increase
Option 1: Do not increase capacity at all.
No changes take place. Staking pools remain exactly as they are.
Option 2: Increase each capacity by 10%.
Minimal change boosting each pool by 10%, adding a total of 350,000 $CGPT token capacity.
Option 3: Increase each capacity by 25%.
Moderate change boosting each pool by 25%, adding a total of 875,000 $CGPT token capacity.
Option 4: Increase each capacity by 50%.
Strongest alteration of 50% to the pools by adding a total of 1,250,000 $CGPT token capacity.
👍 The Pros of an Increased Capacity
- Accommodate more participants
- Improve $CGPT market conditions by incentivizing longer-term participation
- Stronger mechanism to deter selling pressure
👎 The Cons of an Increased Capacity
- Increased rate of token reward emissions
In the near future, ChainGPT will roll out additional utilities for stakers, eliminating the necessity for us to provide high-APY for stakers. Recognizing that our high-APY pools are predominantly filled, we propose a final expansion to accommodate more community members who can benefit from the 5%-28% APY pools. Following the introduction of these new utilities, please note that all subsequent staking pools established by ChainGPT will offer a more modest APY.
Ultimately, ChainGPT believes that in order to grow, it must open its horizons and cater to all potential parties that may be interested in contributing to the ChainGPT ecosystem.
As a community-driven project, ChainGPT must respect the opinions of its members; so come and help us steer the direction of ChainGPT!
We cordially invite all $CGPT members to join us in the Voting. 📩
Stay updated on the status of the proposal by monitoring the governance dashboard here or directly in the proposal interface.
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