Staking Rewards program for July and August

Akita DAO can provide a fun incentive for AKITA holders to stake AKITA tokens or HACHI-ETH LP tokens during the “Dog Days of Summer” (July - August 2023) on Roll Staking.

Known as the hottest period of the summertime, the Dog Days of Summer are a time where we can celebrate the DAO even while we are outside enjoying the nice weather. Stakers of AKITA tokens have a chance to earn HACHI tokens and increase their participation in the Akita DAO. Stakers of the HACHI-LP tokens can earn AKITA tokens as a sign of their loyalty to the DAO by supporting its governance token liquidity pools on Uniswap V2. Using Roll Staking, Akita DAO only needs to provide the rewards tokens, and their automated emissions platform will take care of the rest. In celebration of the event and cultivating creators from within the Akita DAO, an art contest will take place during the first two weeks of July where users can submit their best Summertime dog memes featuring AKITA or HACHI artwork.

Akita DAO is finally in a position to reward its members and we also want to continue to expand our membership. By using a portion of our AKITA token stream from Gitcoin, we can reward those who choose to support the DAO through liquidity providing. In order to grow our membership and incentivize even greater participation, we can reward those who stake AKITA with HACHI tokens.

While many AKITA holders qualified and claimed their Community Vesting HACHI tokens, there are many AKITA holders who are newer and were not eligible to claim. This is their opportunity to demonstrate their commitment to a greater AKITA Ecosystem, and earn a voice in the Akita DAO.

As a community born from a meme, we have a lot of creative force. Let’s celebrate and encourage that by offer a HACHI prize to the top 10 meme creators that contribute to the promotion of Akita DAO and this event. These creators can choose to use their HACHI to represent their voice in the DAO, or combine it with ETH and participate further in the Roll Staking program.

Roll Staking is an automated service provided by the Roll Wallet team:

The Akita DAO multisig would need to establish two positions: one AKITA single-asset position, and one HACHI-ETH LP token position.

This Roll Staking rewards period will run from July 1 through August 31, 2023. This event will be promoted on all social channels as the Akita DAO’s Dog Days of Summer event.

A total of 100,000 HACHI tokens will be provided for rewarding any users who deposit AKITA tokens in a Roll Staking position. This staking period will run from July 1 through August 31, 2023. Staking rewards are proportional to the amount of tokens a user deposits, the overall number of tokens deposited, and the duration of the deposit.

A total of 20,000,000,000 AKITA tokens will be provided for rewarding any users who deposit HACHI-ETH LP tokens from the Uniswap V2 pool. Note, only V2 LP tokens will qualify for this rewards incentive. Staking rewards are proportional to the amount of tokens a user deposits, the overall number of tokens deposited, and the duration of the deposit. HACHI-ETH UniV2 LP tokens can be obtained here:

7,500 HACHI will be made available as rewards for up to 10 winners in an Art Contest to be judged during the first week of the event. Three DAO representatives will need to judge the event, and I am happy to both judge and coordinate this event.

The 107,500 HACHI tokens used for this program would come from the Marketing allocation.

The Akita DAO will benefit from an increased engagement, a potential increase in active members, and also increased price support for DEX trading. Increased DEX trading will also compound the fees earned from UniV2 trades, which means the HACHI token has even more liquidity depth and support. The obvious benefit to participants is the tokens they receive as rewards for using the Roll Staking dApp.

It should be anticipated that some may choose to sell off their rewards, but that is their decision. By taking the step to stake tokens, the average user is already showing an alignment with the Akita DAO’s long-term vision for a robust AKITA ecosystem, where more activities and products can potentially bring more rewards and benefits.

Yes, No, Abstain - If the total YES vote is greater than the total NO vote, then this proposal would pass and be executed by the Akita DAO’s Stewards.

Considering nobody has asked for clarifications, I think we can submit this on Snapshot tomorrow.

Just one request: Please be crystal clear on all costs $ (rewards as mentioned here already, plus any direct/indirect costs related to implementation and maintenance).

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Operational cost for the DAO is the deployment of the staking contract, and 3 additional executions. Total cost I anticipate is around .07 ETH.

This is an example I found of deployment in similar market condition:

User transactions for the contract are also market dependent, average 0.002-0.005 ETH. This includes staking, exiting, or withdrawing rewards during the staking period.

The Snapshot proposal will include these costs.

This proposal was ended yesterday . Everyone(+14k HACHI) voted yes for it without any Abstain or No vote .
Thanks everyone for your vote, really appreciate it. :smiley: