Simple Summary
Reduce the parameter for the pre-staking bonus from the previous DIP, and modify the language for ease of implementaiton.
Motivation
The DRV Token Launch and Functionality DIP mentioned a pre-staking bonus of 5% for those that elect to pre-stake before the TGE. This value is too high given the amount of tokens being grandfathered in. The cost to the DAO could potentially be up to 30M DRV.
Specification
Update the DRV Token Launch and Functionality DIP “Migration and Claiming” section to read:
Users being grandfathered in from the $LYRA migration will have the option to elect to pre-stake all their DRV for stDRV for 2 or more weeks before token launch. By pre-committing, stakers will receive a one time bonus of a 2.5% boost to their balance.
This includes Lyra rewards from trading rewards that were pre-staked before the snapshot.
Note, the removal of the line “This includes points for trading, deposits, referrals, and holding locked $LYRA before the snapshot.”. This program will only be available to those that had a claim to lyra before the snapshot.
Rationale
Reducing the reward amount will help ensure the longevity of the Derive DAO.