Implement Staking to Improve Performance of INDEX Token

Hi All,

I do not think many would argue that the price of INDEX is lagging protocol fundamentals. On every metric we are improving; TVL, number of unincentivised token holders etc. However, price is still lagging. This means that we are overpaying for everything and diluting community members in the process, arguably unnecessarily.

I would like to put forward a proposal for INDEX staking. Under which, a proportion of fees would go towards buying back INDEX on market which would then accrue to INDEX stakers in the form of sINDEX. This would be a fork of the xSUSHI design.

Parameters that would need to be agreed on include:
(1) % of fees that go towards stakers
(2) Lock up/cool down periods for stakers
(3) Any vesting conditions

Thank you

4 Likes

Personally, I do believe it is too premature to initiate buy-backs. We should be focused on using our revenue to scale the protocol by funding products rather than increase the value of our governance token.

7 Likes