Today we are excited to announce the beginning of the next chapter for $KNIGHT & the community of Forest Knight.
13 Jul 2023, 17:05
Today we are excited to announce the beginning of the next chapter for $KNIGHT & the community of Forest Knight.
Forest Knight DAO is live! 🚀
You can now Stake your $KNIGHT to participate in governance proposals:
➡️http://hub.forestknight.io/dao
But this is not your typical DAO model, let's dive deep into our approach to how a Gaming #DAO should look like:
How it Works:🧵
The community can Stake to gain Voting Power based on their stake amount but also how long the tokens are staked in the contract up to 30 Days Threshold. 💪
No Lock time, no restriction, no commitment! You can unstake whenever you want! You keep full control.
You gain loyalty points during your stake and it starts from 0 and can go up to 3x, which means 3x the Voting power from your initial stake amount. You will start over once increase or decrease your stake.
Voting Power = Staked Amount x Loyalty
(Quick Math)👨🔬
This system is fully advantageous for the loyal and core community of Forest Knight and against grifters and abusers of governance protocols. We want to make sure the right people are rewarded and the right people are heard.
Governance Proposals⚖️
Proposals are attached with a reward amount of #KNIGHT Voting for proposals makes you eligible for that rewards pool based on your voting power and total votes. The rewards are vested through our 7 days.❎
Proposals are done by Core Team first and will be open up for everyone else in the future. Community members can also sponsor proposals if they think it's a crucial decision for the protocol.
This system is again advantageous for active community members and avoids passive Extraction of value from the protocol.
Utility boost for $KNIGHT➕$KNIGHT is now additional for Merge and marketplace and is used for Governance & Staking as well. Furthermore, the VIP points from KNIGHT token holding will be adjusted to Staked Token in the coming days.
It's now your turn!
Go Stake your $KNIGHT, increase your voting power then the first KIP (KNIGHT Improvement Proposal) is launching soon. Can you tell, what it could be? 👀
We may also have a reward for early participants...