βͺ Presenting $veRVRS
Reverse is proposing the implementation of a modified Vote Escrow (ve) staking designed specifically to reward long-term $RVRS stakers.
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#DeFi #HarmonyONE $ONE
Reverse is proposing the implementation of a modified Vote Escrow (ve) staking designed specifically to reward long-term $RVRS stakers.
π§΅π
#DeFi #HarmonyONE $ONE
1/
Protocol participants would be able to stake $RVRS in order to earn $veRVRS over time, until reaching a cap set at 4x the amount of RVRS that a participant has staked.
Protocol participants would be able to stake $RVRS in order to earn $veRVRS over time, until reaching a cap set at 4x the amount of RVRS that a participant has staked.
2/
Removing any $RVRS from the pool will slash ALL of a userβs veRVRS. veRVRS is not tradeable, it cannot be sent, bought or sold.
Your $veRVRS balance is proof that you are a diamond hand Reversor, and your veRVRS empowers and rewards you for your commitment.
Removing any $RVRS from the pool will slash ALL of a userβs veRVRS. veRVRS is not tradeable, it cannot be sent, bought or sold.
Your $veRVRS balance is proof that you are a diamond hand Reversor, and your veRVRS empowers and rewards you for your commitment.
3/
We want diamond hand Reversors to govern the future of the protocol, as they are aligned with the protocols long term interests.
As a result, all voting and governance on future RVRS proposals will be done using veRVRS balance rather than RVRS balance.
We want diamond hand Reversors to govern the future of the protocol, as they are aligned with the protocols long term interests.
As a result, all voting and governance on future RVRS proposals will be done using veRVRS balance rather than RVRS balance.
4/
In addition to the governance power, Reverse wants to create an incentive for diamond handers to stay staked with the protocol, and thus, 33% of all emissions and yield payouts will be allocated to veRVRS holders, effectively boosting base APYs for RVRS staking.
In addition to the governance power, Reverse wants to create an incentive for diamond handers to stay staked with the protocol, and thus, 33% of all emissions and yield payouts will be allocated to veRVRS holders, effectively boosting base APYs for RVRS staking.
5/
The existing dilution mechanics become even more important β if you are not in it for the long run and you take actions not in the protocols best interest, then you get diluted by the diamond handers.
The existing dilution mechanics become even more important β if you are not in it for the long run and you take actions not in the protocols best interest, then you get diluted by the diamond handers.
5/
The ve contract penalizes short term speculation β if you sell when the market is peaking and attempt to buyback at the bottom, you lose your ve.
The ve contract penalizes short term speculation β if you sell when the market is peaking and attempt to buyback at the bottom, you lose your ve.
6/
In summary, the more $veRVRS you hold:
> The larger your $UST airdrops are
> The higher your personal APYs are for single-staking
> The larger is your say in the protocol and its future
Godspeed, Reversors.
In summary, the more $veRVRS you hold:
> The larger your $UST airdrops are
> The higher your personal APYs are for single-staking
> The larger is your say in the protocol and its future
Godspeed, Reversors.
β’ β’ β’
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