Portion of the SLP to be converted to $rUSD for staking on Hedera's chain

This proposal aims to utilize a portion of the SLP to stake on Hedera’s chain to earn interest.

TERMS: 30% of the total SLP funds will be allocated for this staking proposal. Within the SLP, 50% from Eth, 50% from BNB will be converted to rUSD to stake .

These funds will remain staked until the community decides to unstake the funds for other opportunities.

Any community member can submit a proposal at any time to unstake the funds.

The principal amount stays staked until it’s voted on to unstake those funds, while the earned interest is distributed amongst those who staked their tokens as outlined in the staking proposal. The link to that proposal for reference is here: Snapshot

To expedite the process of deciding whether to stake/unstake those funds, the delegates will vote to decide if the funds will remain staked or if they will be unstaked for a different opportunity. A majority rule applies, meaning, at least 3 of the 5 delegates must vote in favor or against staking/unstaking those funds. The result of that vote will be published for the community to see for transparency.

Thanks again Dubbya, delegates and team for all your hard work. Love the proposal!!!


Appreciate you Fenoks!

1 Like

I like this however I’d like to know more about the terms for the staking. What is the rate banksocial gets for staking in rUSD?

John has mentioned some potential rates in the Telegram chat but can’t confirm anything until it’s staked and we see how it performs.

All the rates I have heard at fantastic! I have no complaints on that. I was thinking the rates were a part of the proposal but it seems more appropriate for it to be an agreement on the agreed proposal.