Implement temporary re-locking pause for sdMav

General Ideas
#1

Hello Community,

As many of you know, sdMav currently lacks liquidity due to the MAV team not implementing an income mechanism for veMav. Since there’s uncertainty about if or when they might do so, I propose the following vote:

We temporarily stop re-locking MAV and will only re-enable it if and when the MAV team introduces a revenue mechanism for veMav. Currently, we’re not gaining any benefits from locking it, so this move doesn’t result in any loss. By doing this, we achieve the following:

  1. We protect ourselves from the possibility of the MAV team never implementing such mechanisms by starting the 4-year clock now, rather than delaying it.
  2. This action could pressure the MAV team to expedite the process, as they would begin losing veMav, and could potentially lead to a significant token dump when we unlock. If other wrappers follow suit, it would increase the pressure on MAV even more.

I hope sdMav holders and Stake DAO team will support this proposal.

Thank you,
-JohnGalt

4 Likes
#2

Thank you for your taking the time to express your thoughts on this as well as writing the proposal. As a Stake DAO contributor, and sdmav holder, I share the communities sentiment and concerns with the MAV locker. As many of you know, we launched the MAV locker last summer. As discussed with their team, vemav would follow similiar vetokenomics and generate revenue for those that locked, as well as earn an airdrop. What followed was their v2 being launch a few months go that differed drastically than what they initially proposed to use. It it’s current state, vemav generates no revenue (other than potentially more locked vemav down the road). This means that stake dao is unable to take a performance fee which we utilize for seeding liquidity, peg maintainence, etc. Please feel free to comment on this post and share your feeling. We will move this to an onchain proposal when an adequate amount of time has passed for holders and others from the community to comment. Thank you.

2 Likes
#3

I support this proposal.
In the meantime, we are working/lobbying to get Maverick to change things into something better, but it doesn’t cost us anything to stop the relock.

3 Likes
#4

i support this idea because we have no clair vision about what will happen to our Token

2 Likes
#5

I fully support the idea of stopping the locking of MAV, as it’s unfortunate to see the unexpected V2 release impact on the veMAV model. I hope we can find a solution to resolve the liquidity issue for sdMAV. Thank you for the proposal!

3 Likes
#6

I support this proposal. Ideally, there should be a mechanism to provide unlocks immediately as they did not deliver on what was expected in V1. Most people decided to lock in with Stakedao due to that expectation. The pivot to V2 did not include mechanisms for V1, which is fraudulent behaviour from the MAV Protocol Team.

2 Likes
#7

What mechanisms do you have in mind that they didn’t include?

1 Like
#8

Thanks to Chatgpt :slight_smile:
The mechanisms I had in mind that Maverick v2 didn’t include are:

  1. Direct Fee Sharing: Distributing a portion of protocol fees directly to veMAV holders.
  2. Revenue-Generating Boosts: Providing boosts for veMAV holders based on governance participation or lock duration.
  3. Performance Fee Redistribution: Allocating performance fees from liquidity pools to veMAV holders.
  4. Liquidity Incentives: Offering exclusive or enhanced liquidity mining rewards specifically for veMAV holders.
  5. Cross-Protocol Incentives: Establishing partnerships to reward veMAV holders on other DeFi platforms.
  6. Dynamic Airdrops: Implementing regular airdrops based on governance participation or lock duration.
  7. Treasury Buybacks: The protocol treasury is used to buy back MAV tokens and distribute them to veMAV holders.
  8. Governance Reward Multipliers: Introducing reward multipliers for veMAV holders actively participating in governance.
  9. Staking Rewards for veMAV: Allowing veMAV tokens to be staked to earn additional rewards
1 Like
#9

As stated in the proposal, the “Temporarily Pause Re-Locking of MAV Until Revenue Mechanism is Introduced or lock expire” vote must be conducted by sdMAV holders, not veSDT holders as done last week. The sdMAV holders are invited to vote on:

https://snapshot.org/#/sdmav.eth/proposal/0x3fc823041d2563c5fa83b9607c0bbc0dc322872a7e306e2eb157639210f5e47f