elmoSOLID Staking V2
Diagram of the new elmoSOLID Staking (V2) model
The current staking model for elmoSOLID is operational, but we’re eager to enhance its value based on opportunities we’ve identified in collaboration with the community. Following engagement with users and modeling out various scenarios, we’ve determined that a comprehensive revamp of the staking system will yield significant improvement.
- Decaying Withdrawal Fee — a decaying withdrawal fee of X% on the first day of the epoch and X% divided by 7 on the final day encourages users to withdraw near the epoch flip instead of at the beginning immediately following the rebase. This cycle repeats every epoch. The fee is directed to the elmoSOLID contract and increases the value of moSOLID per elmoSOLID
- wETH Rewards — staking rewards for wETH have been added to elmoSOLID staking and can be accessed through the soon-to-be added lock-staking module. Locking is required to earn wETH rewards (holding elmo is not sufficient). Rebases and vote renting fees, however, are still earned by simply holding elmo
- Lock-to-stake for wETH rewards — up to 16 weeks for a max boost (1->16x based on lock duration)