It’s already known that one of the utility for CLOUD would be staking. Before claim date I had suggested that the staking site should go live at the same time as claim although I now see why it wasn’t feasible at the time.
After the consideration of staking proposals and decision on what mechanism to use I would like to be able to stake my earnestness allocation directly. Currently only 8.44million tokens out of the total earnestness allocation has been claimed. This is an indication that most of the earnestness receivoors are long-term aligned with Sanctum’s vision (or at least have no interest in dumping soon). For this reason I think it’s logical that they be allowed to stake without claiming and have voting power capped at their initial earnestness allocation. Enabling this would allow receivoors participate in governance without needing to claim and consider the option of selling.
This feature should also delay claim for earnestness claimers by making us unable to claim our tokens for the staking period. For example if I have an initial 5,000 CLOUD earnestness allocation and the unstaking period is 30 days, then I would be able to vote with 5,000 cloud voting power but can’t claim my earnestness allocation until the 30 days have passed. This way we reaffirm our commitment to sanctum’s long term goal while participating in governance and playing a role in it’s future.
Hey bud, what you mean is like the vesting period be rolled into staking with a locking period aligend with the vesting timeframe? I thhink is good idea for us holding longe term to be able to have the full vested amount account for staking wothout caliming and then roll into that locking period.
Yes this is what I mean.
But I think it’s a hassle for them to have to track how much tokens(voting power) we have due to daily unlocks. This is why I suggested pegging voting power to the initial amount of claimable tokens.
The post also assumes that the unstaking period will be less than time for full unlock.
Yes that’s the intention. Everyone who already has a stake plays a role in Sanctum’s future.
Only disadvantage I can think of is a reduced demand for $CLOUD tokens from those who have tokens still unlocking.
this could be a good option for those who dont want to sell the clouds, but holding somewhere close to the project. I like the idea right after the 6-month lock to put all the allo on stake. If there will be such an option I am all in.