Proposal: Buyback Hopr from the market and distribution among the participants of the staking program

DESCRIPTION

Greetings to all. I would like to offer a simple and understandable idea. I offer a buyout from the Hopr token market and offer these tokens as an additional reward for participating in the staking program.

JUSTIFICATION

This will allow:

  1. unload sales from the market and give even more liquidity for those who want to exit
  2. encourages hopr token holders to block more coins in staking
  3. reward active community members with a large percentage apy for the NFT received
  4. these coins will be subjected to a 3 month lockup and they will not put pressure on the price
  5. this program will raise interest in participating in current activities to raise apy and receive more rewards

IMPLEMENTATION

To fulfill this initiative, Hopr tokens are redeemed from the market and after the end of the staking program are distributed among the participants in proportion to their awards for all time. The token blocking period is 3 months.

BUDGET

The budget can be any, but the larger it is, the higher the effect for the participants of the initiative

EXPLANATION

I want to explain why this will work. There are community members who have a sufficient number of Hopr tokens on their account, but do not participate in the staking program due to low apy. At the same time, he cannot increase it by receiving NFT for other activities ( there is no time / ingenuity / technical capability ) but there are tokens or money. These people will be very happy to block more Hopr tokens to increase the reward. Other participants are very active, intelligent and erudite, receive a lot of NFT and have a high percentage of APY, but due to the small number of tokens, their reward is not too great and they would also be very happy to get a little more. And for all participants, the motivation to participate in NFT activities has also increased. For the Hopr association, this will further reduce the pressure on the price until the end of January, as the number of Hopr tokens in staking will increase. It will also increase the activity of participants in the ongoing events. I believe that now the market is almost at its peak and right now we need more active community participation, we need to promote the project and as many initiatives as possible to increase the price, including blocking as many coins as possible. No matter how much we would like a cool product, everyone benefits from the price increase.

Anyone who wants to support this proposal, please follow the link and click the heart :hearts: Thanks a lot to everyone involved :handshake:

7 Likes

I think it’s a good idea! After distributing the rewards for the steaking participants, I would suggest continuing the program for another 180 days, so even more tokens in the steaking program.

1 Like

As happy as I would be to get more tokens, I don’t think it’s a good idea. This will not bring anything or anyone new to h0pR. Only existing holders will be rewarded and the possible dump in price at January 17th will be even more likely.

I agree with thomas! The ecosystem needs to grow!
Buying back tokens and distributing them among existing holders doesn’t push the project mid- to longterm.

Good idea, It would also be intresting to reward staking participants an NFT for the next staking periods.

it’s a good idea!

1 Like

I am thinking same. very good idea :slight_smile:

by the way, a good remark. it may be worth adding to the proposal that the tokens will be distributed linearly for 3 months, for example. if you think it’s worth doing, please like this post :+1:

we can specify that the distribution of tokens will not be instantaneous, but linear in several months. and as for the growth of the community and the ecosystem, the team has Hopr tokens that are designed for exactly such purposes. in another branch there are excellent suggestions about the distribution of almost 500k Hopr tokens. I think it is not right to offer the same ideas in 2 sections, as many do.

This idea seems to be good however, if I’m not mistaken the question is on how to distribute fees going forward. HOPR staking is a temporary work around for the time being and the final staking application is yet to be build (Do correct me if I’m wrong). Therefore we can distribute it for once. After that what are we going to do? as fees will keep on accumulating after the staking period is concluded. So I guess this idea is sort of incomplete.

yes, you are right, now we are discussing only that part of the profit from placing liquidity in pools that is available at the moment. I think that now it is not worth thinking about what will happen with the next batch. when the time comes to decide their fate, everything can change and the staking program will finally be replaced by cover traffic. and we will get together again and solve this issue together.

Thanks for this, @Aleks. I’ve tagged this as invalid because it doesn’t satisfy the criteria laid out here: UPDATED: PROPOSALS: Making proposals, validity rules and template

Specifically, I’d need to see more information on how it meets the requirement to benefit the medium and long-term growth of the HOPR project.

Part of the last paragraph explains how it wouldn’t be a problem in the short term, but that’s not the same thing.

Perhaps using the template in the linked post would help. The proposal as written is rather unstructured.

1 Like

Thanks for the update, @Aleks. I’ve added this to this list of official proposals here: https://forum.hoprnet.org/t/proposal-12-buyback-hopr-from-the-market-and-distribution-among-the-participants-of-the-staking-program

Anyone who would like to support this proposal, please sign it by following that link and clicking the heart (like) button.

1 Like