This proposal suggests the following:
Introducing superMAHA, converting MAHA into a fee-earning asset with governance properties similar to Curve’s veCRV, Frax’s veFXS, iceCream etc…
Similar to veCRV, superMAHA will be used for voting in governance, boosting rewards, earning trading fees, and receiving airdrops.
Curve.finance, through its veCRV token, has built one of the best token designs in the space for emission-based projects. Furthermore, over 40% of CRV’s circulating supply is locked as the veCRV token.
MAHA also has an emission rate/inflation which is set at 50,000 MAHA tokens per month over the course of 10 years. Which makes it eligible for such a model.
Furthermore, superMAHA allows MAHA holders to actively vote on where the newly minted MAHA tokens will be distributed, decentralizing the inflation of MAHA to its community.
Assuming 1000 MAHA is vote-locked:
(Note: This table is just an estimate of the locking of MAHA. Users can choose any interval in between 2 weeks to 4 years)
- Lock MAHA between 1 week to 4 years to receive superMAHA.
- superMAHA becomes non-transferable and non-tradeable.
- 1 superMAHA = 1 vote in the future of MAHA governance, validators, airdrops, etc…
- superMAHA staked translates to voting power which can be used to determine the allocation of MAHA token liquidity mining by chain and market.
- Incentivizing farmers to stake MAHA to boost their rewards.
- Allocate voting power to long-term holders of MAHA through superMAHA.
- Allow superMAHA holders to partake in earning fees from the ecosystem.
- Allow superMAHA holders to safely and securely control the inflation of MAHA tokens.
- All ecosystem benefits (Incubatee project private sale, Oracle participation, etc, etc…)
After discussions within the community, this proposal will be put up for a vote on July 29th, 2021 at 3pm GMT for 3 days. After which the team will schedule for the release of superMAHA sometime closer to the end of August.
A separate vote will be conducted to decide on the name of the maha staking token.