Given the community response to the emission of the MTA tokens via staking and the VC token release, apart from other rewards, I would like to propose a new staking system.
The MTA token is suffering from A lack of incentive beyond simply staking the token and receiving MTA as a reward, while also holding voting power.
In my opinion this is only the first step of what should have been a multi tier staking system.
I propose that we fundamentally change the staking system for MTA to help solve the inflation issue and as well keep incentive for users to strive for Governance.
My idea is to have users stake X amount of MTA as a proof of commitment. After a certain amount of time, the user would be rewarded the commitment token or perhaps maybe even a commitment NFT that would actually be tied to voting rights while also needing to be supported by holding MTA.
That token would then need to be staked again to actually take part in votes and governance. This would also seriously reduce the circulation of MTA and offer a secondary rewards system. One that requires real commitment to achieve, Making it far more valuable.
The reason this needs to be done, in my opinion, is because there must be more value tied to the MTA token in a tiered way otherwise, the fully diluted circulation is always going to be an economic factor for the MTA market. As well we may constantly be trying to find ways to shift around rewards from other already established reward pools.
What I’m proposing is an entirely new value layer for the MTA platform.
Using a single tier staking system allows for people to Simply Farm votes, and if we are going to have governance as a decentralized community we need executive branches.
There is real value in commitment. Again the MTA token is in a way the first level of this proof of commitment which then gives you voting power in my opinion it’s self-defeating because there’s only one tear.
The model isnt my creation either, the dual staking system as a proof of commitment that gives you the ability to access a secondary part of the network, comes from Darwinia & KTON.
I really do think something like this could bring real Governance and executive value into MTA and donit in a way that grows the ecosystem for the better.
Love to here all of your thoughts, I’m in the discord as Valerian if you want to chat there as well.