Forum

Proposal to Match STAKE incentives for Elk.Finance (ticker:ELK) on xDai

Who Elk is:

Objectives

Elk.Finance provides a fast and cheap way to move value into XDAI via ElkNet multi-chain bridge. While on Xdai, the bridge will undergo further development, such as: smart order routing (offloading trades from Multiple-Chains to Xdai and/or provide the ability to swap on a different chain to get a better price. Also, support for cross-chain loans and multi-chain synthetic/Collateralized assets, including a Collateralized Stable Coin.

Proposal

Request of Appx. 120k USD Value in STAKE Rewards:

50% Rewards will be distributed to ELK/XDAI and 50% to ELK/STAKE LP Providers in Equal

This will create a series of the Stake being released to be reinvested providing further liquidity

Elk.Finance, for a better value proposition, will be matching $STAKE to appx. 2 to 1 in USD Value to Stake with a similar payout of $240k USD Value in $ELK over a 6 month period, that will target 100% incentives towards growing the protocols TVL for cross chain liquidity. Elk.Finance will also be using KPI metrics ensuring a 2 for 1 match in USD Value with STAKE incentives

Elk.Finance Math Prework

The proposed approach for mcap:
Stake Market cap drops below $50M rewards stop

  • $50-$125M 50% rate
  • $125-200M 75% rate
  • $200M 100% rate

(stake mcap restriction in parenthesis assuming a $75M mcap stake)

Month 1 100% rate to bootstrap platform
If TVL of $250k-2.5M is achieved then 25% rate
TVL of $2.5-$12.5M 50% rate
TVL $12.5-$62.5M 75% rate
+$62.5M 100% rate

Approximate Pay Out actual course of distribution can last appx. 6 Months
Currently Elk is Distributing appx 40k USD Value Plus to its ELK/XDAI, ELK/STAKE
Duration of proposal can last until 120k USD worth of Stake is Emitted to the ELK/XDAI, ELK/STAKE Farms
Emissions of ELK will Consistently adjust to a 2:1 Ratio

Example:

  • Stake Rewards $120k/6mo = $20k/mo (50%x20k=$10k/mo)
  • Epochs: Every 30 Days, Stake MC KPI curated by the 14 Day MA, Because we anticipate these rewards will have a positive impact and a higher moving average will not show that positive impact in the the KPI formula

Payout by month assuming stake mcap initially = $75M

  • In month 1 no tvl kpi restriction payout would be
    • 100%(tvl kpi) x 50%(mcap kpi) x $20k = $10k in rewards to bootstrap ELK
  • If by month 2 Elk reaches a tvl of $250K-$2.5M payout would be (Stake MC $50M-$125M)
    • 25%(tvl kpi) x 50%(mcap kpi) x $20k= $5k
  • If by month 3 ELK reaches a tvl of $2.5M-$12.5M payout would be (Stake MC $50M-$125M)
    • 50%(tvl kpi) x 50%(mcap kpi) x $20k= $10k
  • Adjusting to MC of Stake and TVL kpi so on for following duration of months up to the Disbursement of 120k Worth of STAKE
    • The Above can be modified on Community approval to best serve the Xdai Protocols and Community**

Do you support $125k in Stake rewards for Elk.Finance (Ticker:ELK) on xDai?

  • Support
  • Oppose
  • Modify

0 voters

1 Like

Will we also get $MOOSE on xDAI if the proposal passes?

Of course, a $Moose utility NFT will in time be available for purchase on xDai. It will share the same attributes of $Moose on all other current chains.

This will happen regardless of the proposal passing or being opposed. :slight_smile:

1 Like