Gzil DAO + staking Gzil

Summary:

To create Gzil DAO with staking mechanism of Gzil. It will require staking Gzil to have share of staking rewards + to make decisions on different proposals.

Abstract:
Current proposal is a preliminary idea of how Gzil DAO could look like.
Gzil DAO as every other DAO will require funding. Funding could be reallocated from rewards that currently flow in zil staking contract.
The idea is to reallocate 10% from current zil staking into Gzil DAO.
The flow that goes into Gzil DAO is divided into 2 parts (50% each):

  • rewards to Gzil stakers;
  • decentalized fund.
    According to my calculations the above reallocation of rewards will have the following effects:
  • APR for Gzil staking - floating from 6 to 25% (depending on zil price and share of gzil staked);
  • decrease in current APR from zil staking - ~ 1,5-2%;
  • formation of decentralized fund for the year - 36 mln zil.

Decentralized fund could be used according to proposals in different areas (some examples below):

  • financing of new projects through grants;
  • building new projects on behalf of Gzil DAO;
  • support of Gzil price and deapening its liquidity;
  • funding of trading ideas to increase Gzil fund and motivating successfull ideas with rewards from fund;
  • building community;
  • etc.

Motivation:
Idea behind Gzil DAO is:

  • to create additional Gzil utility in the form of making decisions + getting staking rewards;
  • to start creating alternative decentralized funding resource for Zilliqa ecosystem;
  • to brainstorm new ideas and experiment with community;
  • to increase activity within DEFI zilliqa ecosystem.
7 Likes

Iā€™m cool with this method

That sounds like a proper idea, this would show that the team still stands behind gZIL. Actions are stronger than words.

Can someone who has closer contact with the team point them to the proposal to give feedback on this?

Gzil at 11 ā‚¬ and no one seems to care. No serious reactions or proposals on this forum. Life is much easier without Gzil :grin: