Executive Summary
The introduction of Strike Prime Rewards represents a strategic initiative aimed at propelling Strike Finance into a position of aggressive growth and market expansion. The primary objective is to bolster and reward the burgeoning community of supporters engaging with the Strike Finance DeFi 3.0 Vault. Through the implementation of this proposal, we anticipate a significant uptick in Strike Finance’s market presence and an enhancement in the volume of transactions flowing through the platform, thereby solidifying our competitive edge and preventing market share dilution among STRK LP stakers.
Proposal Overview
We propose the allocation of 100% of the protocol’s reserve funds to be distributed monthly to users who meet the eligibility criteria. This initiative is designed to not only incentivize participation but also to foster a more robust and engaged community around the Strike Finance ecosystem.
Reward Distribution Mechanism
Monthly Distribution: The Strike Prime Rewards will be apportioned to eligible participants based on a calculated rate of staking points. This distribution will occur on the 30th of each month, with the inaugural calculation of staking points commencing on March 1st, 2024. These points will accrue over the month and form the basis for the rewards distribution.
Proposal Submission: A formal proposal for the allocation of Prime Rewards from the reserve funds will be presented to the community for approval on the 25th of each month. This ensures transparency and community involvement in the decision-making process.
Initial Funding Boost: To further enhance the attractiveness of Prime Rewards, Strike Finance commits to allocating an additional $10,000 in funds during the first week of March (1st to 8th March, 2024) for distribution among eligible Prime users.
Eligibility Criteria
Eligibility for the Strike Prime Rewards is exclusive to participants staking STRK LP tokens in the Strike Finance DeFi Vault 3.0. This initiative is aimed at directly rewarding and encouraging the liquidity providers who are foundational to the ecosystem’s liquidity and overall success.
Staking Points Calculation Formula
The formula for calculating staking points is as follows:
Staked Amount × (1 + 0.1 × Staked NFT Count) ×Stake Date
This formula is designed to fairly quantify the contributions of LP stakers, taking into account not only the amount staked but also the duration of the stake and any additional contributions via staked NFTs.
Conclusion
The Strike Prime Rewards program is a testament to Strike Finance’s commitment to its community and its vision for a more inclusive and rewarding DeFi ecosystem. By incentivizing participation through a transparent and equitable rewards mechanism, we are poised to significantly enhance our market share, foster user engagement, and solidify our position as a leader in the DeFi sector. We invite our community to support this proposal and join us in this exciting new chapter for Strike Finance.