Add Lockup specification #30
Conversation
|
|
||
| Once we release the Alicenet economics system, users will be able to get ALCA by migrating the old token (MadToken) directly into the ALCA smart contract. In addition to this, we also foresee the creation of AMM pools with ALCA in popular markets (UNISWAP V3, Balancer, etc), where users will be able to buy ALCA directly using different currencies. | ||
|
|
||
| With ALCA tokens in hand, users will be able to stake into the Public Staking contract, and in the near future, they will be able to participate in the governance system to decide the future of the protocol. |
There was a problem hiding this comment.
I think, this paragraph should be incorporated into the first to make it more clear to the reader that they they will receive profits iff their alca is staked in the publioc staking contract, and they will receive bonus alca rewards iff they have their staked postion locked.
|
|
||
| With ALCA tokens in hand, users will be able to stake into the Public Staking contract, and in the near future, they will be able to participate in the governance system to decide the future of the protocol. | ||
|
|
||
| Since ALCA is the main currency of this project, the success of the ALCA is tightly tied to the success of the protocol. In the early life of the project, the ALCA price will be very susceptible to threats such as actors trying to dump/manipulate the price, massive exits by speculation, etc. Therefore, we need a mechanism to incentivize the users to hold their ALCA to have great illiquidity at the beginning to increase the odds of AliceNet success. |
There was a problem hiding this comment.
I dont think ALCA is the main currency of the project, I think it is the governance token, and ALCB is the main utility token of alicenet
| ### Goals | ||
| <!--- What is goal this will accomplish --> | ||
|
|
||
| Incentive illiquidity of ALCA at the beginning of the project. In other words, incentivize users to lock their ALCA for a certain amount of time until the price becomes more stable. |
There was a problem hiding this comment.
maybe change this to "To maintain price stability of ALCA, we will be incentivizing ALCA holders to lock their staked position for x amount of time, to get ALCA bonus rewards"
| ### Assumptions | ||
| <!-- Conditions and resources that need to be present and accessible for the solution to work as described --> | ||
|
|
||
| The ALCA and Public Staking contracts are deployed and available and a generous amount of ALCA is separated to be distributed to users that lock their ALCA. |
There was a problem hiding this comment.
what do you think about changing this to a list
- ALCA and Public Staking contracts are deloyed
- Conversion ratio of ALCA is 1 MadToken = 1.555555 ALCA
There was a problem hiding this comment.
Well, don't think it works here. The lockup system doesn't depend on the 1.555555 multiplier.
Closes #5