L2MP staking & Mining L2 with WavesFunnyNode

WavesDAO Funding Proposals
1

Greetings,

I am WavesFunnyNode, and I would like to draw attention to the upcoming Layer 2 (L2) and its associated token mining. With this in mind, I propose the strategic staking of the present L2MP from WavesDAO at rideonwaves.io, offering an impressive ~270% Annual Percentage Yield (APY). Subsequently, upon the L2 launch, the tokens will be staked at WavesFunnyNode, adhering to a 1-year plan aligned with the inflation rate for the duration on L2.

Screenshot 2023-11-09 at 21.23.56
Screenshot 2023-11-09 at 21.23.56900Ă—844 32.5 KB

I wish to emphasize that the entirety of the generated income will be allocated exclusively to WavesDAO, inclusive of any potential supplementary bonuses, in accordance with the WFN payout policy (detailed in the WFN Investment Side - WFN Policy with bonus rewards), and without incurring any fees from the WavesFunnyNode.

For the implementation of this plan, the L2MP token will be dispatched to a designated wallet (3PDSsCzpoQvUvWtGGUnAPVUJWZLza7anyYq) for future updates on the plan, encompassing activities such as the re-staking of rewards, and more.

Warm regards,
WavesFunnyNode

TX:

{
“type”: 4,
“version”: 3,
“senderPublicKey”: “GDPfYHA6NUZCmin3J7LWZhCvSjBcna8HebyvQyrw17v”,
“assetId”: “7scqyYoVsNrpWbTAc78eRqNVcYLxMPzZs8EQfX7ruJAg”,
“recipient”: “3PDSsCzpoQvUvWtGGUnAPVUJWZLza7anyYq”,
“amount”: 129710350459784,
“attachment”: “”,
“fee”: 500000,
“feeAssetId”: null,
“timestamp”: 1700164800000,
“chainId”: 87
}

2

I’m against the proposal because the L2MP should be staked directly.
Transfering the L2MP on non-DAO-owned Wallet adds an unneccessary layer of risk.
WFN Bonus not specified enough to justify the additional risk.

1 Like
3

Hello,

We are not the type of people who will run away or apply for funds and later disappear with no news as some projects currently at Dao

As we shared in the group, we agreed to add multising to the wallet that will allow only DAO to control the wallet.

The reason why we decided to via a separate wallet:

If the proposal is not accepted by the community, no problem to go via DAO wallet :slight_smile:

4

Following a comprehensive deliberation with esteemed DAO participants, a collective decision has been reached to modify the strategic plan, specifically pertaining to the designated wallet for execution.

In the implementation of this strategy, the L2MP token will be officially staked from the DAO wallet. Future updates, such as the re-staking of rewards and other pertinent decisions, will be subject to determination by DAO participants, underscoring a collaborative and formalized governance approach.

TX:

{
“type”: 16,
“version”: 2,
“senderPublicKey”: “GDPfYHA6NUZCmin3J7LWZhCvSjBcna8HebyvQyrw17v”,
“dApp”: “3PEV7YB8caXLgQPCuKHtWtFSDTjgtbAxgqZ”,
“call”: {
“args”: ,
“function”: “stake”
},
“payment”: [
{
“amount”: 129710350459784,
“assetId”: “7scqyYoVsNrpWbTAc78eRqNVcYLxMPzZs8EQfX7ruJAg”
}
],
“fee”: 900000,
“feeAssetId”: null,
“timestamp”: 1700177596000,
“chainId”: 87
}

1 Like
5

Dear WavesDAO Members,

We extend our sincere gratitude to all who participated in the voting process for the recent proposal. We are pleased to announce that the proposal has been successfully passed and executed.

For transparency and accountability, the details of the executed transaction can be viewed on the Waves blockchain explorer at the following link:

Moving forward, we commit to providing regular updates on the progress of the proposal. Every two weeks, we will share comprehensive reports to keep the community informed about.

Thank you once again for your active participation and support.

Best regards,
WavesFunnyNode

6

Bi-weekly Update #1

News:

  • We are pleased to announce that you now have the option to select Node for L2 staking. For a comprehensive guide on how to execute this process, WFN has created a user-friendly tutorial, accessible at WavesFunnyNode.

  • Leading up to the launch of L2 in January/February, WavesDAO will continue to receive L2MP income. Subsequently, Unit0 (L2 token) will take over this role.

What’s Next:

  • In the upcoming week, we plan to propose the selection of WavesDAO L2MP for staking at WavesFunnyNode.

Results soo far:

Total Available (including income): 1,428,828 L2MP
Total Staked: 1,297,103 L2MP
Income: 131,724 L2MP
Difference: +10.16%

1 Like
7

Bi-weekly Update #2

  • L2 will launch on February 24.
  • Voting is open for the proposal to select WavesFunnyNode as the mining node for L2.
    PWRDAO

Results soo far:

Total available (+ income): 1,556,168 L2MP
Total Staked: 1,297,103 L2MP
Income of: 259,064 L2MP
Difference: +19.97%

8

Bi-weekly Update #3

News:

  • L2MP holders are entitled to receive all Minet Unit0 tokens, while Waves holders will receive side chains tokens along with all fees from L2

Results so far:

Total available (+ income): 1,679,303 L2MP
Total Staked: 1,297,103 L2MP
Income of: 382,199 L2MP
Difference: +29.47%

9

Bi-weekly Update #4

Results so far:
Total available (+ income): 1,801,150 L2MP
Total Staked: 1,297,103 L2MP
Income of: 504,047 L2MP
Difference: +38.86%

10

Bi-weekly Update #5 (last one report)

News:

  • No more income of staked L2MP, they will be locked till L2 launch (After this will receive Unit0)

Results so far:

Total available (+ income): 1,894,824 L2MP
Total Staked: 1,297,103 L2MP
Income of: 597,720 L2MP
Difference: +46.08%

11

The next reports will be when the L2 launch