Celeste Staking Reward Funding Proposal #1
Proposal Information
Proposal description:
This proposal would provided 12 HNY for the Celeste Staking Rewards in the second period. Each period is 30 days and any HNY that is sent to the reward module address 0x41aB49872ED459C840d0CAecd47FcDC201C48307 will be used to reward participants in Celeste probabilistically based on the amount Honey they have staked over the reward period. For more information about how the Staking Reward module works, please review the Celeste Wiki
Proposal Rationale
At the time of writing this proposal there was 587 HNY staked in celeste and 95 unique keepers. Assuming this number is constant, a 12 HNY per staking period reward would work out to ~25% staking return without considering the possible additional earnings that could be made from dispute fees. This is roughly on par with the rate of the first month.
This seems like a reasonably strong incentive to encourage more people to participate and stake in Celeste, while not being so high that we are likely to cause significant destabilization of the Honey market as this is still relatively small compared to our overall monthly outflows.
Expected duration or delivery date (if applicable):
N/A funds would be sent directly to the Celeste reward module.
Team Information (For Funding Proposals)
Names, usernames, and/or relevant social links for team members (Twitter, Github, 1Hive Forum, etc.):
N/A funds would be sent directly to the Celeste reward module.
Skills and previous experience in related or similar work:
What are some of your skills or related experience that might help inform HNY holders about your ability to execute on your proposal
N/A funds would be sent directly to the Celeste reward module.
Funding Information (For Funding Proposals)
Amount of HNY requested:
12
Ethereum address where funds shall be transferred:
0x41aB49872ED459C840d0CAecd47FcDC201C48307
More detailed description of how funds will be handled and used:
Funds would be sent directly to the Celeste reward module, where they will be distributed by the protocol to active stakers.