Today, Adam and I met with Art Pumpkin to discuss a staking implementation for the DAO. This implementation will include a staking contract as well as an overhaul of our DAO website (a simple FAQ and about us section, perhaps). The details of Art Pumpkin’s team’s scope of work will be below. The total for this will be $2,400 paid by the DAO treasury.
Normal Staking Contract
- with whitelist support (better yield for OG holders) and APY to rewards based on the current total stake formula (auto compounds or standard claim rewards).
- Unit test both contracts with hardhat, and write documentation.
- Create an easy mainnet deployment script with Hardhat to deploy the new contracts without flattening.
- Connect with MM, TW, WalletConnect & Coinbase wallet providers.
- React custom UI from a design from scratch.
- Animations here and there.
- Great code quality and file structure, making it easily editable by a future maintainer.
Out of scope
- Test the UI blockchain interactions in the testnet & its responsiveness.
- Assist in deploying mainnet scripts.
- Be active on the launch date for any unexpected scenarios to happen.
Dollar Cost & Timeline:
Normal staking mode: 10 days - $2,400
This concludes the quote and scope that Adam and I received today.
The percentage yield for staking is up for discussion.
You guys absolutely Rock!
Can’t wait to see how it unfolds, and very interested in seeing what folks think.
To be honest I’m not impressed with the UI of Samurai Legends Dashboard. Not familiar on the price to develop one or this though, but I think it could look better.
Now regarding the code I will let more knowledgeable people on the topic express their opinion.
This is a great update on the team’s development activity. Thanks
Regarding UI, we told them we’d like bambooassets.com’s look and colors figuring that most will be happy with it. Development hasn’t started—we can take the UI in any direction. Ideally we definitely look more like Bamboo than anyone else!
What will yield percentage be? What will difference between normal and white list? How will whitelist be chosen?
Hi just had some questions.
I see you didn’t mention the pink panda wallet. Will the staking site not be accessible from the pink panda wallet through a gui icon or something that will take you straight to the staking landing page?
Is this staking for $BAM token only or will busd, bnb, eth, usdc etc also be available? Same question with BAM/xxx liquid pairs as well?
Is the purpose of this staking for DAO governance only, or purely to reward stakers with APR/APY, and/or are there some kind of liquidy pools needed?
I assume all fees that currently exist with BAM transactions will be removed by the time staking starts and the only fee we will have to pay is the one from the binance network for performing a staking transaction?
The website looks like it will be great and to have something like that live when the new website comes back up is even better. Good work everyone.
Pete / interesting set of questions.
You seem like a highly trustworthy individual, and the real deal. (Feel free to disagree )
Could you please inform if you see any red flags down the road concerning the staking.
Is there a way Bamboo could tweak the staking concept to benefit a few (30) big bag holders in an extreme way, while certain wallets connected to Bamboo are tasked with selling to keep the price regulated, essentially holding holders who are down 75 percent plus trapped, earning their 5 + percent yield. A yes or no would be suffice, no need to go into details for me.
It seems for now there is no public relations officer, and the general publics view of Bamboo is very poor, doing my best to improve it, but sure is an uphill battle.
It is important to ask serious questions, within the community, and if members like you are able to ask the critical questions it is greatly appreciated by someone like me.
Thanks Pete/pretty awesome to see someone with your knowledge in the thick of things, amongst the folk.
Just to comment on the APY percentage, that’s going to be determined by a couple of factors
- the total amount people stake
- the duration they stake
- the total amount allocated to the staking pool
1 and 2 are variables, 3 we would be pre-determined. We’ll do some estimates to try and get it to a certain number but we’ve got no control over 1 and 2.
Whitelist for the “higher APY pool” would be determined by anyone that migrated from PP to BAM
“Normal pool” would be for anyone not on the whitelist, a lower APY/funding amount.
Wallet Availability: Native probably not - since this is a limited term. We can create a link/wallet connect it in however. We’re trying to focus all wallet dev on permanent functionality
For now $BAM only as this is more a rewards program, but we foresee LP staking pairs for sure. Liquidity is good.
Staking won’t have any fees as there’s no transfer fee on $BAM.
Thanks Adam, sounds good.
I’m going to put together a proposal in Snapshot tomorrow for us to vote on regarding this staking implementation.
I’m all in on the staking
Very close to quorum on the staking vote