Content
@
https://warpcast.com/~/channel/degendogs
0 reply
0 recast
0 reaction
Mark Carey 🎩🫂
@markcarey
WOOF staking is here. Stake your WOOF and receive stWOOF, one for one. No fees. No locking period, unstake at any time. Staking rewards are streamed as WOOFx, powered by @superfluid. Stakers share in a 10,000,000 WOOFx stream -- subject to change in future, up or down -- proportional to your stake. If you own half of the all the stWOOF, you get half of the stream. https://degendogs.club/staking
10 replies
6 recasts
14 reactions
Mark Carey 🎩🫂
@markcarey
The APR is crazy high at the moment. This is because there is very little staked, since this just launched. Expect the APR to decrease as more and more WOOF gets staked. It also demonstrates that it pays to be early! The early Dog gets the WOOF ... or something.
1 reply
2 recasts
6 reactions
jetman
@jetman
Staking is a good product! thank you. Do you have any good ideas to increase the WOOF pool other than donations?
1 reply
0 recast
1 reaction
Mark Carey 🎩🫂
@markcarey
This is a good question to think about. Currently there are three sources of WOOF: 1) daily $DEGEN tip allocation, 2) auction proceeds, 3) sell fees earned when people sell WOOF. Currently 100% of these go to the main stream shared by all Dog owners. With the agreement of Dog owners, we could divert one of these sources to the staking pool. If we did this, then the sell fees might make the most sense, as the narrative would be that the sellers are rewarding the stakers, which "feels right". Something to think about, at the very least...
1 reply
0 recast
0 reaction
jetman
@jetman
I agree with that idea. It would attract traders who don't participate in the auction.
0 reply
0 recast
1 reaction
