As a continuation of the ParaSwap DAO strategy to bring in more users & volume (see referral program), I propose to create a Gas Refund program in all supported chains. This should have double side effects: Encourage system participation (more Staking on ParaSwapPool, Safety Module…) as well as solidify the alignment of interest between the ParaSwap DAO and stakers. This will result in both parties are incentivized by this program: More volume for ParaSwap and gasless trades for system stakers.
Gas refund, staking, Front-end upgrade, smart contract development, marketing & communication
2. Simple Summary
The idea is to reward users based on their total staked amount on ParaSwapPool and Safety Module (and other future staking programs).
The structure looks like this:
500 PSP staked: 25% gas refund
5,000 PSP staked: 50% gas refund
50,000 PSP staked: 75% gas refund
500,000 PSP staked: 100% gas refund
All kind of transactions should be considered: Trading, allowance, staking… Even reverted tx (conditions TBD).
Minimin staking period is 30 days, where users will lock their staked tokens (sPSP, stkPSPbpt…) on a contract. The rewards can be claimed at the end of each period: Gas-Staking-Epoch.
Rewards will be distributed in PSP.
Anti-abuse rules have to be addressed by either community guardian (TBD) or setting up a Kleros case, or maybe a mix of both.
The main goal is to bring more volume to ParaSwap.
Up to 30k USD in PSP per user, and a maximum budget of 30M PSP
Share of volume brought from the gas staking system + increase of stakers using ParaSwap. All can be tracked onchain
6. Forward-thinking considerations
- DAO can be the judge for spotting abuses. Systems like Kleros can be used.
- The budget can be adjusted depending on the success of the program or PSP market price variation in both directions.
7. Implementation overview
There will be a need to build few contracts + audits
8. Voting options
“For”, “Against” and “Abstain”