Increasingly high Ethereum gas fees and their respective volatility has made it increasingly hard for our community to take part in active staking. Additionally, the EthicHub ecosystem will become multi chain as those ecosystems offer greater visibility for projects and allow the onboarding of multiple communities. We are planning to expand it to integrate RSK, Gnosis and Celo.
Current allocation of rewards
1 000 000 Ethix are minted yearly. This equates to 2739 Ethix per day. As of now, the allocation of Ethix is split amongst node staking and Ethereum chain staking.
Proposal
Keeping in mind EthicHub’s mission, we propose the following Ethix Reward Allocation to EthicHubbers.
40% Ethix Reward Allocation to nodes staking
15% Ethix Reward Allocation to Ethereum chain stakers
15% Ethix Reward Allocation to Gnosis chain stakers
15% Ethix Reward Allocation to RSK chain stakers
15% Ethix Reward Allocation to Celo chain stakers
Topic to be discussed:
Reward allocation allocation per category
Multichain future of EthicHub
Possible future integrations of other (if multichain future is seen as forseeable)
Thank you for your constant support :), excited to hear your thoughts !!
It´s important to point out that 1M ethix inflation is for the next 5 years, then will be decreased to half for the following 10 years. Last year (first year for ethix), inflation was higher and we did not spend all so we have some extra ethix to cover for some gaps if needed.
I think this is very balanced proposal. Just missing some ethix to incentivise lending (extra yield paid in ethix). In this regard I propose to reduce allocation for RSK and Celo since that will not run full year. My proposal is to reduce RSK and Celo to 10% so we have 10% for incentivise lending with an extra yield paid in ethix.
In the case of Ethereum this means we should reduce the staking rewards because we are running out of ethix (spending ethix that were not spend last year).
15% allocation for Ethereun chain are about 400ethix/day. I would start with 200ethix/day for single staking and 200ethix/day for liquidity providing in Uniswap in the pool that have been incentivized until now (Ether/Ethix).
In the case of xdai (gnosis), where we already have ethix and some liquidity, we should start a staking program right away.
15% allocation for gnosis chain are about 400ethix/day. I would start with 200ethix/day for single staking and 200ethix/day for liquidity providing. We should incentivize a pool in which we have some extra support from the DEX or directly from Gnosis with some GNO (or both).
40% to reward staking in node originators means 400.000 ethixs yearly or 1096 ethixs daily. As our proposed reward for these staking is 100 ethixs per originator node ( aprox 60% reward with credit line of 50K usd) we can support 10 new nodes. Maybe this year we will need less ethixs because we will not have 10 nodes from January. Surplus can be used for nexts years rewards.
To distribute to different networks I would suggest to do more effort with chain that are supporting project actively or where we want concentrate liquidity swapping.
I would suggest
ETH : 10%
GNOSIS: to concentrate liquidity 25%
CELO/ HARMONY / RSK /NEAR / OTHERS : 30% for one or two networks that really support project actively.
As well as I would reserve 100k ethix to reward contributors I would reserve 10% for project contributors. We can use https://coordinape.com/ for rewards contributions.
ENGLISH
Proposal for 2022 deploying Ethichub project multichain:
a) Current inflation 1M anual, 2740 daily
b) Previous reward in ETH network: 1000 ethixs daily general staking / 1000 ethixs in uniswap liquidity pool.
c) Current 708 daily ethixs for staking in our farmers communities
d) Current in CELO , 150.000 anual ethixs, 411 daily ethixs.
Proposal to aprove for community for ETH+ CELO deploy version ( until next deploy )
in ETH keep 822 daily ethixs for general staking and 822 for Uniswap liquidity pool
in CELO keep 411 daily rewards.
Reduce rewards in ETH when we will deploy in nexts chains.
ESPAĂ‘OL
Aunque la anterior proposal fue aprobada, realizo la siguiente propuesta para esta fase de despliegue multichain:
a) la inflación de ethixs es de 1M anual, lo que representa 2740 ethixs diarios b) Previa a la actualización de esta semana estábamos asignando 1000 ethixs al staking general y 1000 ethix al liquidity pool c) adicionalmente asignamos 708 ethixs diarios para recompensar el staking en nodos de nuestras comunidades d) el staking en CELO tiene asignado 150K ethixs anuales que representan 411 ethixs diarios. PROPUESTA: 1) mantener en la red ETH el incentivo de 822 ethix en staking general y 822 ethixs en liquidity pool. 2) mantener la asignación de 411 a CELO 3) a medida que despleguemos nuevas redes ir reduciendo el staking de ETH a lo planteado en la anterior propuesta.
Hi Jordi,
I saw your table, and it seems interesting. However I see that in the column of Ethereum marked as a total of 60% however Ethereum is marked as 10%. I guess this was a mistake.
I also don’t understand how the table works as the sum of the total nodes and Ethereum total is already worth 100% of the total Ethix rewards. I don’t understand where the other rewards are coming from. Could you please re-do or edit this table so that the total rewards are equal to 100% and that the rewards in each blockchain are clear. Thank you!
Hi GY, you are right 10% is what was voted, and 60% (30%+30%) is what I’m suggesting. I have updated table. In deed will will need to add 297 daily ethixs form reserves if we use at the end all scheduled rewards. Please note that right now for example we are not using 100% of contribution rewards community or 100% of rewrds for staking nodes.
