[Amendment] BSN Emissions for Stakehouse LSD Networks
Introduction
Following the community feedback on the initial BSN Emissions for Stakehouse LSD Networks Proposal and Temperature Check, this proposal aims to amend the previous proposal by addressing the community’s concerns and incorporating suggestions for improvements.
Motivation
The community expressed two primary concerns:
- The discouraging nature of the tier system, which currently requires a full tier to be completed for users to qualify for tokens.
- Insufficient incentives to stake ETH.
This amended proposal aims to address these concerns and refine the overall structure of BSN emissions for Stakehouse LSD Networks.
Amendments
Revised tier system: To address the community’s concern about the discouraging nature of the tier system, the amended proposal will modify the tier system to no longer require a full tier to be completed for users to qualify for BSN tokens. Tiers will now only be used to determine the weight of tokens distributed. Remember that this is still on a scale with earlier ETH deposited in a tier having a heavier weight than later in the tier.
Additional BSN allocation for top-performing LSD Network owners: The DAO will allocate an additional 10% of tokens from the original proposal or 10,000,000 BSN. These tokens will be distributed to the top 10 LSD Network owners with the most staking rewards accrued after the completion of the emissions program. The distribution will be auto calculated based on the staking rewards accrued and distributed pro-rata.
To qualify, an LSD Network owner must have a minimum of 10 validators in their network.
Continuity of previous Temperature Check and proposal elements: All other aspects of the previous Temperature Check and Proposal will remain unchanged, ensuring that the core structure and objectives of the BSN emissions program are maintained.
Implementation
Considering the new amendments, the DAO should focus on the following key points for the next steps.
- Approval of the amendments for Stakehouse LSD Networks Emissions.
- Encouragement and promotion of community engagement in the updated incentives for ETH staking in Stakehouse LSD Networks.
Conclusion
This amended proposal for BSN Emissions for Stakehouse LSD Networks addresses the concerns raised by the community and incorporates their suggestions to create a more effective and community-aligned plan. Blockswap Labs will move forward with the implementation, and the community is encouraged to continue providing feedback and suggestions to ensure the success of this initiative.
Achieving a quorum for a proposal in the Blockswap DAO requires the participation of at least 200 million BSN tokens. However, due to the limited distribution of BSN tokens currently in circulation, reaching the necessary quorum may prove to be challenging. To address this, multiple proposals and temperature checks may advance to a vote simultaneously. This approach ensures that the proposals’ advancement generates enough community interest and engagement, rather than being hindered by the limited availability of BSN tokens.