reDAMO -> reward engaged


reDAMO is a system of staking $DAMO to accrue voting power. reDAMO increases 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. reDAMO will be displayed on a Governance Pass, an NFT minted for the user during their first staking event.

Governance Pass

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 reDAMO accrued 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 reDAMO accrued 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.

Governance Pass Extension

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 more liquid approach to weighted governance ve -> re


A DAO member's reDAMO at any time is calculated as total sum of reDAMO across 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.

reDAMO Calculation

Variables for Staking event reDAMO calculation
reDAMO for a single staking event

Total reDAMO

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.
An unstake does not create a new event but rather decreases D on 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 reDAMO.