Staking version of Cult DAO | Involve PoS token stakers in the Investment DAO

in #notbox2 years ago

The success of Cult.DAO comes from its fully decentralized narrative on the one hand and its exploration of the staking mechanism on the other.
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In Cult.DAO, the 50 wallets with the most $CULT stakers form a guardian group, which can submit proposals for investment protocols, but have no voting rights. All $CULT stakers outside the top 50 have voting rights. Based on Staking, Cult provides innovative solutions for governance voting.

As a Staking DAO (Peanut) was launched in 2020. We are considering whether many PoS token stakers can take part in a similar Investment DAO under the existing conditions. So, we came up with our solution.

Launch a DAO with Staking

Peanut DAO was launched through staking. PNUT is automatically minted by the protocol and then distributed to 1) Delegate SP mint PNUT pool (81.8% PNUT); 2) PNUT-BNB trading pair liquidity mining pool (9.1%); 3) DAO Fund account (9.1%) PNUT.

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First of all, Peanut DAO uses Walnut to create a mining pool for mint PNUT that acts as a delegate for SP (Steem's staked token, the full name is STEEM POWER), anyone can get PNUT by delegate SP to Peanut. In turn, Peanut DAO receives part of the staking reward of SP (existing as SP).

Peanut DAO then creates a liquidity mining pool by using Walnut. Anyone who simply deposits a Pnut-BNB transaction pair liquidity provider token into the pool can get a PNUT by block.

Finally, Peanut DAO registers multi-signature contract addresses as the DAO Fund accounts. The 15% PNUT entering the DAO Fund is paired with the staking reward SP (traded into BNB) obtained by Peanut DAO for market making.

This allowed Peanut DAO off to a fast start and become the second-largest staking platform on the Steem blockchain within 2 months.

Build an Investment DAO on the Basis of Staking DAO

Inspired by Cult.DAO, stakers who participate in PNUT-BNB trading pair liquidity mining can gain the rights to manage Staking reward. The top 20 stakers can submit investment proposals to the Peanut Proposal Voting System, after 20 stakers can vote on investment proposals.

In this way, Peanut shifts from a Staking DAO to an investment DAO. Among them, the funds of the investment fund come from the staking reward by PoS Token(like SP or ATOM) delegate every day. When the investment returns, 50% of the PNUT will be repurchased for destruction and 50% will be put into the investment fund to replenish its capital.

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As a Staking DAO, Peanut with loyal PNUT holders, which turns Peanut into a unique investment DAO and be helpful to more innovative projects.

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