Intent of this proposal is to create a way to avoid staking lock-up waiting time while burning Lunc and refilling the oracle pool.
If a addition feature was made so stakers could have no undelegation lockup period and have access to there funds right away by paying a 5 percent tax on staked coins we could use that tax to burn coins and refill oracle pool.potentially more people would stake there coins if they could undelegate them instantly. this at the same time will burn coins and refill oracle if 50 percent was burned 50 percent goes to oracle pool.
make a feature that allows people to have instant access to coins when undelegating by paying 5% tax half would be burned half would refill oracle pool. also make a limit of no more than 25% of staked coins can be unstaked this way in a epoch to avoid security risks to the chain.
The 21 day waiting period is there to provide guaranteed liquidity for the coin. If there is a drop in price people will rush to unstake in order to sell which kills liquidity and will just contribute to a crash. A 10% penalty is not enough to prevent this. If you want instant unstaking then the penalty should be something like 50% and then a sliding scale from there such as 30% for 7 days and 20% for 14 days. Ultimately it is your choise to stake or not, if you are worried about needing immediate access to the funds, then don’t stake.
5% Tax is roughly 3 months of staking rewards. 50% tax (its insane!) is more than 2 years of staking rewards. This would not be a tax, its straight robbery. Sure, you can “chose” to be robbed and we can pretend its a nice feature. But hey, thats what I like about this forum, no matter how crazy the idea is, people will post them here.
you wouldn’t have to pay this it would be a option wait to 21 days or pay 5 percent its not forced so its not robbery. there will always be some people that would use it for whatever reason just a way to help us burn and refill oracle pool
I was not refering to the 5% which actually could be a semi viable option (though I still have some concerns such as that if a wallet got “hacked”, the money can be withdrawn immediately and in addition 2-3 months of staking rewards is still a lot to be feasible beyond panic sells. There are other chains that allow instant free unstake. A fee is fine, but keep it reasonable such that it can be used in a healthy environment too.), but the robbery part was addressing the outrageous proposal of 50% unstaking “tax”. But why stop at 50%? I hereby propose a minor 200% unstaking fee. It’s optional. None has to use it and any true believer in this chain will surely pay /s.
you make limit how much could be unstaked during a epoch that way and its not force you can wait 21 days or pay the 5 percent. nobody said anyone had to pay the 5 percent just a option for people that want there coins right away
The 21 day rule is there to provide security/confidence for liquidity.
I would not support an instant unstake unless it was quite severe…like you’d loose 30-50% of your total stake if you took out instantly. Public confidence in anything being stable has to mean that you cannot see huge dumps of (nearly a trillion staked).
My suggestion is to increase burning by making use of the staking time. The daily burn is equal to 1%. This indicates that I have the option to unstake immediately, burning the 21% burn-fee, and that the burn-fee will drop daily by 1% until it reaches 0% after 21 days.