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Proof-of-stake

  • Tokens of a particular denomination can be locked for a configurable period of time in a non-fungible bond

  • Bond can be claimed in the future with rewards as indicated (fixed-rate or variable-rate)

  • Bond can be soulbound (?)

  • Bond carries voting rights (perhaps somewhat proportional to lockup length)

  • Bond is associated with a specific validator selection function

    • Owner of the bond may redelegate (or equivalent)

  • Bond gains stake-weighted voting power on funding allocation decisions (logistic function)

  • Bonds can also be offered by the protocol for locking other assets

    • Incentive alignment mechanism

    • Coupons still pay out in staking asset

  • Targeting controller sets interest (targeting lockup profiles of different denominations)

    • Protocol can also buy back bonds

    • Could include bonds of other denominations

    • Pro rata redemption (exit) is allowed, with a controller-determined tax

Additional options

  • Non-transferable bonds (requires some kind of anti-collusion anti-transfer mechanism)

  • Free gas per unit time for stakers (non-transferable)