-Introduction of a very low supply super governance token that is exclusively minted by WING
-Limit to be in the range of sub 50k
-Acts as a reward to WING holders with potentially an increased rate for prolonged deposits?
With measures to protect ONT investors also.
And personally I think the name Angel fits this like a charm.
Let me know your thoughts.
Al
UPDATE - NON-TRANSFERABLE TOKEN
As introduced by Andrei, the concept of a non-transferable token with no market value may be a preferable route.
-The longer liquidity is supplied to the pool via WING, the greater the amount of this new token is farmed.
-This non-transferable token then provides extra WING rewards & increased voting powers to those who are long-term investors in the project.
-Possibility to incentivise this with enhanced farming rates for certain periods as has been done with the initial launch of WING.
-This filters out the short-term opportunists to only reward supporters of the project.
-The new token essentially acts as a multiplier that requires long-term investment to reap any notable rewards.
-Prevents the extended dilution of & short-term overvaluation of WING.
-Perhaps include ONT protection by having some balance of liquidity supplies alongside WING eligible for rewards?
1.we want an incentive scheme for wing holders and also for them to actively participate in governance
at the same time WING token is already used as incentive for those providing liquidity (in a variety of assets)
by using a new super-governance token we can separate between economic incentives (for providing liquidity and getting reward in wing which you can sell if you want)
and governance incentives (by allowing people to stake wing and win voting power, instead of selling them for $)
with such a system we start with voting power expressed by wing
then in a certain period of time (say 1 month or 3 months) after enough Xwing will be minted by those staking wing, the governance will be shifted from wing to Xwing
this way those investing for future value of wing platform will be able to reap extra benefits by mining xwing and be able to sell them in the future.
for this kind of super-governance coin i think it should have lock times on wing deposit
ont community can receive a share of super-governance (having it s own separate pool to mine a certain portion of xwing)
I worry that this may dilute the value of WING itself. I think itâs a good idea, but the tokenomics and association to WING token itself needs to be very integrated. I think it could be useful to use it like a multiplier on voting power and rewards, primarily. Imagine a supply that is released slowly based on time lock and participation, and that automatically boosts your WING weight when staking.
I think it could bring more bad stuff than good. Another token that generate new token. Most people will have hard time understanding why we need new token on top of our new released one. I think increased distribution of WING to WING holders should be a better approach.
ONT protection is key if we want to lock 700M/1B. If we lost ONT value, we lost USD locked value because most of the staked is ONT and probably will be.
And as a reminder:
We must not let the work done these years disappear (or overtakes us, like BAND vs LINK) by jumping the DEFI train, forgetting that currently the only platform best positioned for decentralized identity is Ontology but new player are raising. So Andy, as a strategist, donât lose focus.
DAO tokens are run and governed by the community. Not value per se if these two values dosenât match.
And last reminder, stolen from a ONT dev: âBring trust to everyoneâ
i really hope u guys donât start a new token with low supply⌠both will decrease in value⌠i for one will loose trust in wingâŚ
locking tokens? will exclude a lot of people, coz not everyone invests with money they can afford to lose, a lot of traders trade to get out of poverty for example, or to buy something they canât afford, or pay bills. we canât ignore these investors, even if they invest for a short term, a high value of wing will keep them much longer, and the longer they stay, the higher intrest they have in the project, and, the more free âmouth-to-mouthâ publicity for wingâŚ
what are your thoughts about protecting/hurting value of ont with wing?
Need to come from ONT Team, why? Because all past statements has been false and they must do things professionally or they will lose the confidence of investors.
Some old statements:
âThe new economic model encorages node stakingâ - ONT Team
False: From 74 nodes to 61 nodes. No encorage for nodes.
âWe expect the average number of transactions on the blockchain to increase significantly. Therefore, we will likely see the whole networkâs TPS increase from 0.1 TPS to 10 TPS.â - ONT Team
False, less transactions. Improved with WING but thats noot enough
âWe expect the network staking rate may increase to 60% and the stock-to-flow will go up close to Bitcoin. It will act as an Ontology-style halvingâ - ONT Team.
False, less staking, less nodes.Even with WING does not even reach 35%
