A proposal to adjust the amount of rewards being distributed on the newly launched Hadley and Polar BSC streams.
Motivation & Benefits for the UMB Community
Give a proper and fair level of rUMB rewards for UMB token holders who choose to stake on Hadley and Polar Streams on BSC
BSC Staking will launch at the end of December with 10% of total rewards moved over to BSC, to be shared in the same proportion between Hadley and Polar as on Ethereum. That means that the rewards pool on the Streams on Ethereum will decrease 10% and that same amount shifted over to the
Streams on BSC. The 10% initial split is based on the fact that currently, approximately 5% of total UMB tokens in circulation are on BSC (7.2MM / 121.8MM). Once BSC staking is launched this figure is expected to increase. The purpose of this proposal is for the community to vote on the percentage of the staking rewards that will shift over to the Hadley and Polar streams on BSC, which will decrease the rewards from the ETH staking pools. The implementation timing will be planned for the periodic reset of the streams in late January. This initial proposal is also a test of the overall forum and voting process.
- The proposal will be open for discussion
- After the discussion is concluded and feedback is incorporated, the proposal will be up for voting on Snapshot.
- The Snapshot voting will last for one week after it goes live
- After the voting concludes, the results will be ratified by the community council for implementation during the next update of the staking contracts which will likely be in the second half of January 2022