7 day PNG timelock on claim (no rewards during timelock)

As long as we can not assume a png listing on any cex, because there is not any c-chain asset listed on any cex (no ARC-20, no C-Chain assets on CEXes for now), i suggest to prioritize timelocks (without permission to receive further rewards during timelock) for claiming earned png rewards. This would be an effective incentive to not continously selling png rewards and release some sell pressure from the PNG-AVAX pool…so that the PNG price has a chance to rise. Let’s say 7 days timelock

7 day PNG timelock on claim (no rewards during timelock)
  • YES
  • NO

0 voters

I believe it has been discussed many times before and is a harmful idea, especially when the only reason to do a timelock is solely to pump the price. Implementing timelocks turns potential LPs away from pangolin in favor of DEXes which don’t have a timelock feature.

@mtfuji - Can you deliver numbers of how many dexes use timelocks for reward claims vs. no timelock dexes? i understand your concerns but i don’t see any other short term solutions to stop price slump. Furthermore…not having timelocks, has not attracted much liquidity for now (250 million is not that much). when key problems are solved (like ARC-20 assets for example PNG C-Chain available on CEXes) we can deactivate timelocks in a future proposal

Will do much more harm than good. Super annoying for new visitors who want to test it out before committing capital. Super annoying for people who want to use earned PNG to add to their swap pool. And will only add more confusion and complexity.

Why is it that PNG holders want to add rule after rule after rule? Isn’t crypto supposed to be liberating?

1 Like

I haven’t seen such statistics around but there is absolutely no point to artificially create a price spike. I understand there are people with heavy IL but it’s clearly not a viable solution. Also as @BobbyC stated, that’s not a user-friendly approach and it will only make people remove their liquidity. PNG’s token value should obviously be coming from other sources and with as little discomfort to users as possible.

@tiffi
Maybe not a 7 days timelock but a claiming fee that decreases over 7 days? It could start at 21% and decrease by 3% per day.

A % of those fees could be burned and the remaining could go to community treasury.

We could also find a way to allow staking and compounding of those rewards without a fee in the future.

@BobbyC
I get your point, we don’t want to only artificially increase PNG’s value, but protecting the holders is a selling point for those who believe in the platform. What would be the most important first step to better the platform in your opinion? Improving the price would increase the APY and bring liquidity, no?

If you don’t care about PNG price at all, then why are you involved here? What are your motivations?
I’m just trying to understand because we should all share the same goal: the success of the platform.

I do not agree either. Pangolin should be an exchange platform where fast and cheap trading needs are met including taking your money outside whenever you want.

PNG price would be best served with PNG staking pools. Every successful dex has staking pools for their token. The pool should take a small percentage of all swap fees and distribute that to stakers. If you want to add a time factor you can do so in the staking pool. For instance by increasing the cut of the swap fees for every week staked.

2 Likes

@BobbyC - Is there a proposal in voting to get a PNG staking pool on its way to production? There’s no time to loose.

Couldn’t be bothered myself because I think the dex will collapse with the upgrade to v2 on 4/19.

@BobbyC - Then your mind is prepared and it will be a positive surprise in case it doesn’t happen.

I don’t see how it cannot happen. It’s like taking away candy from a baby and expect it will keep smiling.