Hello lovely people of IDLE,
im new here and i have very limited knowledge about this protocol and this staking implementation but i would like to share my limited thoughts cause i have a really hard time to understand that mechanism behind that:
We had a short discussion in the gov channel on discord and now i wanna start with the basics of this system:
We implement this, very complex system, to get a multiplayer up and boost the yield for people who stake longer than others. To boost the yield we need this gysr tokens. And that people can buy this token to boost the yield you need liquidity. To get liquidity to the gysr tokens we need to pay LP rewards and increase the inflation of idle. And sorry, i dont see any benefit in that for the protocol. This system is much to complicated and bears additional smart contract risks etc.
Can someone explain me the benefit to the protocol please cause im too stupid to understand them.
Am i allowed to suggest a completely different token model i always recommend when i join a community? Cause it is really simple and understandable:
xIdle - like xSushi, xCover, xRuler, you stake your idle into a contract, the contract rebuys idle on the market if if you unstake your xIdle, you get more idle then when you went into the pool.
The advantages? Cashflow, you still can vote and you can use it as collateral or different other things. On top of that you can do something really awesome (CVP - Powerpool is doing that). You get a reward multiplayer! If you lp with 10k in the idle/eth pool you need as example 1k dollar locked into the xidle pool to get more rewards.
And in my opition, just release a completely normal rewards system and if you wish, just add a timelock on the rewards (XTK is doing that, you can claim the rewards, but it will take 6 weeks until they appear in your wallet - another example is CVP again, they have a vesting time of 10 weeks where your earned rewards will be vested over a period of 10 weeks time).
Thanks for reading this, i hope i can help and i really hope we find a very easy solution to this. Im just writing this at my day job, sorry for all typos and grammatical errors.