After carefully reviewing all the constructive comments on the forum post titled "Providing Flexible Unstaking Options: 0 Days, 7 Days, and 21 Days," https://classic-agora.terra.money/t/providing-flexible-unstaking-options-0-days-7-days-and-21-days ,as well as the messages I received from the community regarding this subject, I am convinced that there is a strong consensus in favor of moving forward with these proposed changes. The primary reason behind this is to attract more funds to the chain. With the introduction of these new features, potential investors can rest assured that if things don't go their way, they have the option to unstake their funds more quickly, rather than waiting for the standard 21-day period.
However, upon thorough consideration of the community's feedback, I have come to realize that there were two aspects I had overlooked. Firstly, I had not been sufficiently aggressive in determining the unstaking tax. Upon reflection, I agree with the community on this point. While we want to provide an option mechanism, we must ensure that it is not abused. Therefore, I propose that we revise the unstaking tax accordingly.
Secondly, there is the issue of victims falling prey to phishing scams. Allowing an instant unstaking option with a 0-day period could be detrimental, as it would enable scammers to swiftly unstake and withdraw funds from their victims. To address this concern, I suggest implementing a two-way security measure before enabling the 0-day option. This would require the collaboration of both the L2 and L1 teams to establish robust safeguards that prevent any unauthorized movements of funds.
Taking into account the valuable input from the community and these additional considerations, I am confident that we can enhance the unstaking options while maintaining the integrity and security of the system.
Introduction:
This proposal aims to stabilize the price of the currency by implementing a variable staking withdrawal mechanism. Currently, staking and rewards are the main uses of Lunc. However, due to the volatility of the coin price, many people are hesitant to lock their coins for a fixed period of 21 days.
Development: To address the concerns raised, we propose the following options for unstaking with different timeframes and associated costs:
1. Option 1: 21-day unstaking period (unchanged)
◦ Users can unstake their coins after waiting for 21 days without any penalties or additional costs.
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2. Option 2: 14-day unstaking period
◦ Users can choose to unstake their coins after 14 days.
◦ Activation of this option incurs a cost of 2.5% of the total staking amount the user wants to unstake.
◦ Additionally, all rewards collected in the previous 21 days will be forfeited.
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3. Option 3: 7-day unstaking period
◦ Users can opt for a 7-day unstaking period.
◦ Activation of this option incurs a cost of 7.5% of the of the total staking amount the user wants to unstake…
◦ Furthermore, all rewards collected in the previous 21 days will be forfeited.
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4. Option 4: 0-day unstaking period (requires two-way security implementation)
◦ Users can choose to unstake their coins instantly, without any waiting period.
◦ Activation of this option incurs a cost of 15% of the total staking amount the user wants to unstake.
◦ Additionally, all staking rewards earned in the previous 21 days will be forfeited.
◦ Note: This option will only be activated once two-way security measures are implemented for enhanced user protection.
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5. Option 5: 3-month rewards option
◦ Users can opt for a 3-month rewards option, which provides a higher reward API.
◦ If a user activates any of the previous options (2, 3, or 4), they will forfeit all rewards collected prior to activating the chosen option.
◦ The specific cost associated with this option will be based on the user’s unstaking amount and will follow the rules of the chosen option.
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Now let’s exemplify the options:
Option 1: 21-day unstaking period No additional equations needed as there are no penalties or costs associated.
Option 2: 14-day unstaking period Let S be the total staking amount the user wants to unstake. The cost C for this option is calculated as follows: C = 0.025 * S Additionally, all rewards collected in the previous 21 days will be forfeited.
Option 3: 7-day unstaking period The cost C for this option is calculated as follows: C = 0.075 * S Additionally, all rewards collected in the previous 21 days will be forfeited.
Option 4: 0-day unstaking period (requires two-way security implementation) The cost C for this option is calculated as follows: C = 0.15 * S Additionally, all staking rewards earned in the previous 21 days will be forfeited. Note: This option will only be activated once two-way security measures are implemented for enhanced user protection.
Option 5: 3-month rewards option No specific equations needed as this option only offers a higher reward API. If a user activates any of the previous options (2, 3, or 4), they will forfeit all rewards collected prior to activating the chosen option.
Conclusion: By introducing flexible unstaking options, we aim to attract more users to participate in staking while addressing concerns about long lock-up periods. The proposed options provide a range of choices based on different timeframes and associated costs. It is important to note that activating certain options may result in the loss of staking rewards and incur specific costs according to the chosen option.
this topic is the reviewed [ https://classic-agora.terra.money/t/providing-flexible-unstaking-options-0-days-7-days-and-21-days ] ( Providing flexible Unstaking options : { 0 days} , { 7 days} and { 21 days} )
