Stake ICAP to get more ICAP | Voters

Stake ICAP to get more ICAP

Agape

Create a staking option for ICAP. The pool should have a 0-day withdrawal lock perpetual stake option, to which ICAP rewards from other stakes are automatically delivered. Auto-compounding, and saving of gas fees. This will attract investors and drive ICAP price up.

December 22, 2020

Agape

In a Discord discussion this was elaborated upon. This proposal could help increase DEX liquidity for other tokens. Here are the key points from the discussion:

create a C20/ICAP sushiswap pair (or any other fundtoken)
enable staking of the SLP token for ICAP generation with a suitable modifier (at least 0.5x)
suddenly liquidity for both C20 and ICAP without any additional marketing or budget needed
prior napkin math implied that a 1x modifier would be enough to incentivize a fundtoken/stablecoin pair
for a fundtoken/icap pair 0.5x modifier would be enough to incentivize, especially if this was on sushi or some other incentivized dex
the 0.5x modifier also wouldn't dilute ICAP rewards for people already staking, cause the inclusion of ICAP into the staking pool would be offset by the opportunity loss on the fundtoken side
for fundtokens that have a higher than 1x mod initially, the fundtoken/ICAP staking ratio should be half of the modifier e.g. IBA has a 1.33x modifier right now, so IBA/ICAP LP token staking ought to have a 0.665x modifier

Agape

After a discussion on Discord, it seemed that looking into staking ICAP liquidity pooling tokens would be more fruitful than staking pure ICAP itself.

Victoria van Heerden

Agape: Thanks for the amendment!

Yokozuna

Agape: I missed this conversation, can you give me a tldr or somehow show me the convo on discord please? Thanks.

Agape

Yokozuna: sure, here's the log paste: https://pastebin.com/MrNHGiGQ

Victoria van Heerden

ICAP inception! 😁