Hi everyone, I have been reading here for some time (since May this year), and just signed up. I would like to make two suggestions for governance.
The first is to reduce the staking time to 14 days (2 weeks). The reason for this change is to incentivise more people to stake, as one of the barriers to entry is the long lock-up time when unstaking. The more people staking the less circulating supply of LUNC which should lead to positive price action, so I believe a reduction in the lock-up time would be helpful.
14 days (2 weeks) lock-up to exit staking provides the advantage of more timely and flexible control over your funds, and still provides an ample time lock-up to provide chain security and countering volitility. Currently 21 days (3 weeks) is a very long time to wait, and causes people hesitation in wanting to stake.
I believe this change could result in a faster increase in the rate of staking. If 14 days is considered too short we could consider 16 days, and if that is too short we could consider 18 days. I feel an adjustment to lower the staking lock-up time would be beneficial for LUNC.
The second suggestion I would like to make is a $ fiat balance indicator for the Station wallet, so that when you have your LUNC there it will say how much it’s worth in $ in the wallet section. Also apply the $ balance indicator when staked so it will say how much your stake is worth in $. Almost all other crypto wallets give you a $ fiat value of your balance. This provides a nice ease of use feature letting you track your LUNC net worth as the price rises or declines without having to get out the calculator. It would make it more enjoyable to use the wallet, especially when LUNC rises, as watching your listed LUNC $ net worth rise within the wallet itself is a great addition. I believe previously a balance indicator was there when staked, and this was measured in UST but when UST was incorrectly listed as still $1. I noticed the feature was gone, so it would be good to have it replaced and updated, ideally with multiple currency options (USD, EURO, AUD, GBP).
These are my thoughts and I am interested to hear people’s perspectives about it. Thank you.