xDai STAKE Ecosystem fund unlocks began March 31, 2021. This is an important fund designed to support the further development, expansion, and adoption of xDai and STAKE. As such, funds will be used in a number of ways.
Here we offer some initial use cases for the fund. We will continue to expand this page, adding additional uses and use-cases as they arise. If you have an idea for usage that aligns with xDai values (long-term growth, neutral ecosystem expansion, security and support, and sustainable project development) please feel free to propose in our forum.
Ecosystem Fund Details:
Funds Contract: 0x5E78C09984bd6608f8E913F0924062C043eD6ad7
Distribution Contract: 0x9BC4a93883C522D3C79c81c2999Aab52E2268d03
March 31, 2021 ~ 13:02:59 UTC: 800,000 STAKE (20% 1 time unlock)
April 1, 2021 - March 2, 2022: ~9,523 STAKE per day (80% over 336 days)
Funding amounts are approximate and provided in STAKE. We will include additional details such as tx hashes, gnosis safe addresses and other data as they become available.
Our partnership with Gnosis includes their investment in STAKE along with deployments of their product suite. More on this investment and collaboration is available here.
✅ Completed April 12, 2021 https://etherscan.io/tx/0x3eccd969b495b55fa71714f6656d7b764c49f1adb07dc9a31dff318dbe247e74
400,000+ STAKE to support multiple bounties
We plan to initiate additional high-value bounties for EasyStaking, POSDAO and other applications with available STAKE ecosystem funds. More here
43,000 STAKE Wave 1
The xDai Grants Program will begin to support projects requiring funds for development, adoption, use-case support or other features. A form for wave 1 applicants will be available when the program begins. More info
While initially implemented on the xDai chain, STAKE is designed for use on additional networks for staking and other utilities. This initiative will increase STAKE usage and demand as additional networks are able to utilize STAKE for security.
When providing liquidity to DEXs in the ecosystem it is necessary to provide 2 different assets. To prevent the sale of STAKE to acquire these assets, we will leverage protocols such as Unit Protocol and MakerDAO to lock in STAKE and acquire additional collateral to support liquidity. Any positions we open will be with a high collateral to debt ratio to prevent unexpected liquidation and unnecessary risk.
✅ 10,000 STAKE for Huobi listing liquidity support. Sent in 2 transactions April 20, 2021.
Community members can suggest usage for funds by creating a proposal and a linked snapshot where users can vote on proposed usage of the funds. This acts a signaling mechanism for the community and what innovations they would like to see on xDai.
More on the Decentralized Community Governance Process.
✅ Community member support. A community member sent a large amount of STAKE accidentally to an unrecoverable address. They were able to prove their identity and mistake and the community voted to support this member, while the member pledged to burn 30% of the amount received to benefit STAKE holders.
1,451.6036 STAKE sent May-08-2021 https://etherscan.io/tx/0xfce79d4f6593b9b72c2763e49fd613b39a2a120403bf56241e6c49fc72eb5232