/ Midas Dollar

Midas Gold Improvement Proposal 01: MDG reward lock time extension

Background:

After one week from launch, Midas Gold has achieved notable results. Our community is growing strong and our products are getting known in BSC in particular and DeFi space in general. With almost $80 million locked across all pools, we are currently applying a 75% reward lock for the first 10 days. And that has been helping to maintain $MDG healthy growth.

To continue to keep $MDG moving forward in the right direction, bringing more benefits to the community in the long term, we propose to continue this mechanism after Day 10.

Proposal:

We would now like to seek the community's opinion on the plan below by voting A. Implement LoyaltyLocker or B. No change (no lock). The blockchain snapshot for voting rights will be only for $MDG holders and participants in Midas Gold Touch MDG Stake Pool.

Accordingly, instead of giving out all the rewards immediately, we will implement LoyaltyLocker and lock part of $MDG rewards as follows:

  • 1st month (day 11-41): lock 70%
  • 2nd month: lock 60%
  • 3rd month: lock 50%
  • 4th month: lock 40%
  • 5th month: lock 30%
  • 6th month: lock 20%
  • From day 201 -> day 365: claim in LoyaltyLocker linearly (~0.6% each day)

Voting procedure:

Voting time: Voting closes at 10:00:00 AM March 12, 2021 GMT+8

Snapshot at block 5600000

To all MDG holders, please make your voice heard. Vote now: https://snapshot.page/#/midasgold.eth/proposal/QmYnBiBXxo28uSVY5YwFYaqTVJ6ZzFnUBviVJe2MXqY1Br

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Midas Gold Improvement Proposal 01: MDG reward lock time extension
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