Is anyone developing something like this currently?
I am imagining something similar to HEX built on Ethereum, but better. For now I will refer to this conceptual token as Staek.
It is not my intention to advertise HEX, but I will briefly describe it and provide some ideas that would improve the concept and build it on AE.
In HEX you can stake HEX from 1 day up to 15 years and earn more HEX for longer stakes. Theoretically this will decrease supply on the market and boost the price if there is demand. The total inflation per year is capped around 4%. This way if you stake an average length you are getting new coins at the same rate as inflation, as opposed to holding a token like AE itself that inflation goes to miners who sell some on the market.
Bitcoin holders are able to free claim a small amount of HEX by signing a message to prove they owned x amount of Bitcoin at the time of the snapshot. The free claim amount decreases to nothing over the course of about 1 year. Free claims required 90% of the HEX to be staked for at least 350 days. There is also a non tiered referral program that gives bonuses. The HEX smart contract also sells HEX for one year similar to the EOS ICO.
How I propose Staek should work:
I believe a simple approach that is easy to understand is best. Perhaps a 1% dividend for a 1-year stake and have the max stake be 5 years with a 5% dividend. These staeks should be variable by 1 day increments to spread out the supply coming onto the market but I think the one percent per year makes it easy for people to mark their calendars etc. I like the HEX approach to emergency unstaking that pays out x% of end balance, x being % of stake length completed.
Free claim for 100 days. Day 1 mint 100 Staek per AE held. Decrease claim by 1 every day so 1 AE can only claim 1 Staek on day 100, and none thereafter. Perhaps a mandatory 50 to 90% stake for a year to prevent dumping immediately and retain users’ interest. However, unlike HEX, I do not think the contract should sell Staek (which suppresses price, disincentivizes adoption and free claiming) I believe the developers should be rewarded with a percentage of the inflation. I think a one-level referral program is also a good idea to promote Staek.
What does the community think?
Is a simplified staking token built on AE something you would be interested in? HEX is having some success but I believe is being held back by the creators selling too much and it would be better built on AE, mainly rewarding AE holders who claim early or promote through referrals, and whom stake longer. Having a swap mechanism on day one would be important for the market to create a value.
Percentages and times are of course up for debate. I am also not sure if AE has all the necessary features currently standardized, for example ledger signing. Even if AE is not fully ready yet development could start now. If you are a developer I would be happy to work with you in a marketing role but even if I’m not directly involved I would like to see this happen so I can free claim and refer and I think this would help boost the whole aecosystem.