| id | Title | Status | Author | Description | Discussions to | Created |
|---|---|---|---|---|---|---|
| TIP-185 | Thales Staking deprecation | Draft | Danijel | Deprecate THALES staking and start deflationary tokenomics | discord.gg/thales | 2023-11-16 |
This TIP proposes to fully deprecate and stop THALES staking rewards in order to focus on deflationary tokenomics via BBB
THALES single side staking has served as the basis for Thales DAO governance, granting voting power to all those that stake THALES. It was part of the original tokenomics fair distribution plan and aimed to distribute 60m THALES over 4 years.
Since inception, there were several changes to the single side staking contract, amongst others the inclusion of gamified elements which rewarded users THALES rewards based on their trading and liquidity providing points.
Recent community feedback has indicated a strong desire for change in THALES tokenomics. The biggest criticism was pointed towards BBB tokenomics not making sense while the emissions are larger than the amount bought back via fees. Some also argue that staking alone does not serve any necessary purpose in THALES tokenomics.
With the weekly buy-back amount being around 60k THALES at the moment, and single side staking emissions alone being at 105k THALES, the straightforward solution to switch towards deflationary tokenomics via BBB is to fully deprecate gamified staking module and continue reducing other protocol emissions as applicable.
Seize all THALES rewards on single side staking contracts across all chains, thus leveraging BBB towards deflationary tokenomics.
The views here do not necessarily reflect my own, and the TIP is created for the purpose of temperature check via TIP-186
Copyright and related rights waived via CC0.