Call for opinions on the MoonCake 2.0 proposal

MoonCake has been running for 7 months. Currently, more than 3 million $cMOON are staked in MoonCake, and APY is close to 20%.

“Deflation” is also an important part of the MoonSwap economic system. $MOON has been burned 6 times, and a total of 1,310,200 $MOON has been burned, accounting for 5.8% of the current total circulation of $MOON. The MoonSwap team is also constantly expanding new scenarios to accelerate the deflation of $MOON.

To this end, we plan to upgrade MoonCake to lock in more assets and accelerate the deflationary process of $MOON.

In the current plan, 0.05% of the MoonSwap transaction amount and 0.3% of the MoonSwap NFT market transaction amount will enter the staking vault and be allocated to users who stake $MOON to MoonCake. After the user stakes $MOON, it will enter a 7-day “consensus period”. If the user chooses to cancel the stake during the consensus period, a 0.3% handling fee will be charged. After 7 days of stake, users can get back $MOON at any time without suffering any loss.

We will list several plans and solicit opinions from the community. Eventually, the MoonCake 2.0 plan will be voted on by the community. If you have other suggestions, you are welcome to send them to us.

PLAN A:

0.05% of the MoonSwap transaction amount and 0.3% of the MoonSwap NFT market transaction amount enter the staking vault;

Mooncake 1.0 rules remain unchanged;

After users stake $MOON to MoonCake, they will enter a 6-month lock-up period.

During this period, the staked $MOON cannot be retrieved.

Staking treasury allocation:

10% is allocated to Mooncake 1.0;

80% is allocated to Mooncake 2.0;

10% is allocated to BURN Wallet;

PLAN B:

0.05% of the MoonSwap transaction amount and 0.3% of the MoonSwap NFT market transaction amount enter the staking vault;

MoonCake 1.0 will be cancelled;

After users stake $MOON to MoonCake, they will enter a 6-month lock-up period.

During this period, the staked $MOON cannot be retrieved.

Staking treasury allocation:

90% is allocated to Mooncake 2.0;

10% is allocated to BURN Wallet;

PLAN C:

0.05% of the MoonSwap transaction amount and 0.3% of the MoonSwap NFT market transaction amount enter the staking vault;

MoonCake 1.0 will be cancelled;

After users stake $MOON to MoonCake, they will enter a 6-month lock-up period.

During this period, the staked $MOON cannot be retrieved.

Staking treasury allocation:

80% is allocated to Mooncake 2.0;

20% is allocated to BURN Wallet;

1 Like

Out of those, I like Plan C the most. Burn as much as possible to raise the value of what we have. I would also like to raise the .05% fee to at least .25%, higher even and add in an auto redistribute to xMoon holders. Say .25% to mooncake fund and another .10% directly to wallets so .35% total. IMO the .05% is too low and adding in an auto distribution feature could generate hype, example would be safemoon.

Please do not consider plans with 6 month lock-up. It’s in-humanly long in crypto world.

I suggest auto-compounding instead which could be similar to pancakeswap.

3 Likes

I like the high burn rate from Plan C.
Agree that 6 months lock up period is too long and that auto compounding would be useful.
Also to me it makes sense to have only one MoonCake (so MoonCake 2.0).

3 Likes

If we are going to make changes to Mooncake, I would prefer to add Kepler into the equation and/or allocate the staking treasury to liquidity instead of burning. Here are some examples of changes.

PLAN A Example:

0.05% of the MoonSwap transaction amount and 0.3% of the MoonSwap NFT market transaction amount enter the staking vault;

Mooncake 1.0 rules remain unchanged

Users have two options in Mooncake:

  1. to stake cMOON into xMOON for APY
  2. to stake cMOON into mMOON that can be used in Kepler to add further liquidity.

PLAN B Example:

0.05% of the MoonSwap transaction amount and 0.3% of the MoonSwap NFT market transaction amount enter the staking vault;

Mooncake 1.0 will be cancelled

After users stake $MOON to MoonCake, they will have a choice of 4 lock-up periods 7 days, 1 month, 3 month, 6 month each with higher APY bonuses the longer lock-up period and increased moonpowah voting rights.

During this period, the staked $MOON cannot be retrieved.

Staking treasury allocation:

80% is allocated to Mooncake 2.0;

20% is allocated to adding liquidity for cMOON trading pairs

or something to this effect

2 Likes

No 6 month lockup period required
If you do that, no new funds will come in

3 Likes

6 month lockup is way too long. Why are they the only options?

I would like to see the handling fee during the current 7 day consensus increase from 0.3% to >0.6%. That should provide enough deterrence to remove liquidity from mooncake.

perhaps, give users the option to choose from multiple lock ups (6mon - 3 mon - 1 month) with all having their own apy % in tiers scaling down as the lock-up decreases.

No lock-up period is required.
How about allocating 20% of the current compensation to marketing instead of burning?

Regular airdrops would increase awareness, and a syrup pool for PancakeSwap would be a good idea.

1 Like

plan A is a better selection,many fans does not retrieve their coin until checking ,maybe they will miss this updating ,they will be annoyed if they find their staking treasury is disappeared.
Administration should consider this condition.

I agree, but do zero burning, make these tokens more useful. Use cases could be for.ex. the following :

  1. Add cMoon-cBNB pair to Moonswap (buy BNB with half and create a pair with liquidity that cant be removed)
  2. Add cMoon to pool rewards
  3. Make lottery with the cMoons
  4. Use cMoon to make a syrup pool in PancakeSwap
  5. Use the cMoon for Marketing. (We need this.)

These are all very good ideas.
Rather than deflationary measures, we should take measures to draw attention to MoonSwap.

1 Like