OIP-16 Platform Fees & Claiming Process

OctoFi · 2021-01-16T19:53:36+00:00

Hey Octonauts, As we get closer to platform fee collections, we've considered the best ways to distribute collected funds to you, while making it easy to cl...

CFow

DelinquentMind Agreed. Took some time to think on this and a 1 Octo limit will help avoid dilution. I thought it would exclude small baggers but the price is still reachable for most looking to invest.

Two weeks seems reasonable for me for staking period. Also, it make sense if you are choosing to stake for longer periods, you should receive a larger %. More risk, more reward.

CFow

AkadoSang Just a stat some people look at. Overall though, not very much added. Agreed.

CFow

Joinboin imo freedom is the ability to choose to hold/sell or stake. Staking and LP rewards will help the community overall. Not just the individual holder. So, I think we all need to take step back and look at the bigger picture. In your opinion, why will the Hold approach be a better option for the community as a whole?

CFow

jav555888 Agreed. I'd love to avoid this. Initially let everyone test out this fee distribution so they can choose to invest more while the price is still reachable for most.

nathanj

Remove limitations on both ends.
I don't see the point in requiring 1 OCTO on the low end and we'll just have to change it later on.
On the high end 100 OCTO is a really low bar. I'd prefer no limit but if we were to make a limit it should be 888 OCTO.

markuspizza80

I don't like so much the idea to stake and receive monthly USDC, considering the high fees we are seeing now staking and getting a few $$$ paying high fees for transaction wouldn't be effective.

Holders can be loyal too, fees should be proportionally distributed based on the average amount of OCTO in a predefined period. i.e. Monthly or Quarterly OCTO owned and distributed to the wallets directly via something like bulksender, clearly deducting the gas costs from the reward.

To allow loyalty it can be set a minimum of OCTO to be owned (i.e. 5 to avoid gas fees would be higher than rewards) and that this minimum amount would be constantly in the wallet for the predefined period to be eligible of the reward

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