Goal is to increase the number of community members who stake AST by easing the restrictive un-staking rules(only 10% every 7 days)
Current rule to un-stake 10% every 7 days (while de-incentivizes immediate un-staking after voting) creates more friction for broader community to stake
- A large # of transactions needed to un-stake all tokens resulting in high gas fees
- General fear to stake and lock-in tokens
- Each stake creates a new staking line-item with a time-stamp at which the stake was initiated
- There is a 4 week cliff period during which AST cannot be un-staked (However AST is being un-locked during the first 4 weeks per below)
- 5% of AST is unlocked every week starting from time of staking
(Ex. at the end of 2 weeks users would have 10% AST unlocked but cannot un-stake since the user has not met the 4 week cliff period yet.
However, after 4 weeks, users can now un-stake their 20% unlocked amount or choose to wait further and accrue their 5% unlock per week so they an un-stake larger amounts in one single transaction. 100% AST would be unlocked at end of 20 weeks)
Start above process for any new stakes
Note on migration(Existing stakes): The current staking contract will be flipped to 100% unstakeable to enable existing stakers to unstake and move to the new contract.
I believe the above process will really help more community members to enter staking process. This creates a more open staking process with less restrictions and the actual fee rewards will incentivize people to stay staked rather than un-staking restrictions.
Let the open world win!