Hey there Kangalians,
As we are finishing up the work on staking contracts and almost ready for the audit, we need to start the discussion on the parameters that we need to decide on for the contracts.
The main parameter we need to decide is Annual Percentage Rate of Mint (APR-M), which will be showing how much $TEAK you will get in one year for staking X amount of KANGAL.
We belive this should be somewhere between 20 to 40 percent for KANGAL staking and 80 to 160 percent for LP staking. The main idea is to clearly incentivize staking KANGAL/BNB LP tokens users get for adding liquidity on PancakeSwap. To calculate the KANGAL amount in KANGAL/BNB LP, we will be multiplying KANGAL amount with 2, so that it will also account for the BNB added.
Other configurations we need to make a decision on are:
- minimum number of days to stake (to be eligible for getting APR-M reward)
- Processing fee for the $TEAK reward (taken when you withdraw)
- Processing fee for staked KANGAL (taken when you withdraw)
Rewards will be calculated daily, so that’s why we need to set the minimum time for withdrawing as a day. We believe having a limit here will make things more stable since to get the $TEAK reward you will need to keep your KANGAL staked at least for a day.
Processing fees will be directly going to a DAO wallet we will create for this, the Core Team will not have any direct allowance on this, all spending will require a vote, similar to Community Treasuty.
For these parameters, 1-day minimum, 1% $TEAK, and 0.1% KANGAL fee may be a fair start. Of course these are just examples to get the conversation started.
For your suggestions you can use a template like:
APR-M for KANGAL staking: 30%
APR-M for KANGAL-LP staking: 90%
Minimum day limit: 1
Minimum number of KANGALs to stake: 500K
Processing fee for $TEAK: 1%
Processing fee for KANGAL: 0.1%
Let’s discuss this for ~2 days and start the vote on this on 29th or 30th of May.