We’re excited to announce that our community has once again come together to shape the future of the ChainGPT ecosystem. The latest DAO proposal focused on enhancing our staking pools has passed, bringing significant changes aimed at improving the sustainability and stability of our staking system.
What’s Changing?
In an effort to better align our staking rewards with the long-term goals of the ChainGPT ecosystem, the approved proposal introduces new staking pools with 0% APY but higher staking point multipliers. Here’s what you need to know:
Key Changes:
- New Staking Pools: The community voted to introduce staking pools with 0% APY, offering higher multipliers for staking points instead. These pools have unlimited capacity and offer the following options:
- 6-Month Lock: 0% APY, 1.7x multiplier
- 1-Year Lock: 0% APY, 2.2x multiplier
- 2-Year Lock: 0% APY, 2.5x multiplier
- 3-Year Lock: 0% APY, 3x multiplier
- Multiplier Impact: These multipliers will have a significant effect on several key ChainGPT products, including the AI NFT Generator, Crypto AI Hub, ChainGPT Pad, and DAO Voting System, with a 100% effect. DegenPad will see a 50% effect.
- Continued Support for Existing Pools: While these new pools are being introduced, the existing positive APY staking pools will remain open. However, their capacity may not be increased if demand shifts towards the 0% APY pools.
- DAO Fund Allocation: To continue supporting staking rewards, the ownership of the Farm/Staking allocation provided at TGE (5% of total supply) will be moved to the DAO Fund. This fund will cover the costs of staking rewards moving forward, ensuring sustainability.
Why This Matters
The introduction of these 0% APY pools is a strategic move to reduce potential sell pressure on the CGPT token, which could arise from high APY incentives. By encouraging longer lock durations and offering higher multipliers, we’re fostering a more stable and committed staking environment. This not only benefits the ChainGPT ecosystem by aligning incentives but also provides a longer-term vision for token holders.
Looking Ahead
With this proposal passed, we’re entering a new phase of staking that prioritizes sustainability and strategic alignment with our ecosystem’s broader goals. We’re confident that these changes will create a more robust and resilient platform for all our users.
Stay tuned for more updates on how these changes will be implemented, and thank you for your continued support and participation in the ChainGPT DAO. Together, we’re building a stronger future for our community.
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