reDAMO -> reward engaged
reDAMO is a system of staking $DAMO to accrue voting power.
reDAMOincreases continuously from the moment $DAMO is staked, and is calculated as a function of
(i): the amount of $DAMO initially staked
(ii): time since the staking event
This implementation avoids the rigidness of lock-up based staking methods and ensures that users who stay engaged with the protocol continue to be incentivized to do so.
reDAMOwill be displayed on a Governance Pass, an NFT minted for the user during their first staking event.
The HAI DAMO Governance Pass will be a non-fungible tokenized representation of a user's current
reDAMO. It will be displayed as an aesthetic SVG card with all of a user's staking event's listed, but conveniently summed to display the total
reDAMOaccrued across all staking events. The Governance Pass will allow for a liquid market for staked $DAMO. However, while the NFT and its staked $DAMO can be traded, votes are made illiquid by ensuring the
reDAMOaccrued on the NFT is reset to 0 upon transfer. The Governance Pass provides a convenient and efficient method of displaying a DAO member's current status within the protocol.
While voting power (
reDAMO) cannot be transferred, it can be delegated. This creates an opportunity for a Votium style governance portal to be built on top of HAI DAMO. This incentivizes DAO members to maintain their staked position (accrue voting power) and delegate it when fiscal governance opportunities arise.
A DAO member's
reDAMOat any time is calculated as total sum of
reDAMOacross every staking event. A staking event's reDAMO will be equal to the initial $DAMO staked upon creation, and then will return a yield of 100% every year on the initial staked $DAMO. For example, if someone stakes 100 $DAMO, they will instantly have 100
reDAMO. After one year has passed they will have 200
reDAMO, after two years 300 and so on.
Variables for Staking event reDAMO calculation
reDAMO for a single staking event
The total reDAMO for a user is calculated as a sum of reDAMO across all staking events
Every time a user stakes $DAMO, a new staking event is created. This allows for precision across individual staking events, and allows the user to treat their staking events separately when
unstaking, but cumulatively when voting.
unstakedoes not create a new event but rather decreases
Don an existing event. A user can choose which stake event to unstake from, but the rational decision will be to unstake from the most recent one, as it will have accrued the least