The Seven Wonders of MITH Cash V2: Day 2 — Time-Weighted Boardroom Rewards, and Single Asset MIS staking rewards
#2 of 7 Upgrades: Time-Weighted Boardroom Rewards
In the 27 days since MITH cash started, we have all noticed an increase in MIS volatility around Seigniorage time. This can only be because the original design allows people to stake in the Boardroom just for the brief time when MIC rewards are released. There is a huge drop in MIS liquidity at this time, as LPs leave the pool just to claim expansion rewards. Time spent staked in the Boardroom is ignored, and long term stakers are treated equally to those who have newly entered. The team believes that this loophole must be closed immediately so that loyal supporters are not penalized.
The community has spoken with the passage of MIP-4 (100% YES) to timeweight all boardroom staked MIS during seigniorage distribution.
To understand how this would work: All MIS staked into boardroom is subject to a timer, MIS staked earlier are worth more than MIS staked later, and will receive more rewards when the time comes. Assuming deployment is imminent, every MIS stake right this moment will receive a significant portion of upcoming seigniorages and given we have allowed for seigniorages to the boardroom to occur in both expansion and contraction phases, this makes staking MIS early extremely valuable.
The V2 Boardroom will include a timeweight for all rewards, including Seigniorage MIC distribution. Additional rewards for Boardroom stakers are also envisioned as essential in MITH Cash V2.
We plan to roll out a pure MIS Pool 3 staking vault with rewards emission over the next few days, to reward MIS holders across all periods of time, not only during expansion. MIS holders will just need to stake MIS for further rewards, with no risk of IL.
More will be unveiled in the coming days as we release further innovations that will make up V2.