ReStake DAO
ReStake DAO will combine the elements of restaking and liquidity wars for the very first time. It will also further establish and codify Migaloo as one of the main pioneers of restaking in the Cosmos.
What is Restake DAO?
Restake DAO decentralizes Migaloo’s fiscal policy by putting control of the ReStake contract in the hands of $RSTK holders. It allows $RSTK stakers to distribute a fraction of Migaloo’s staking emissions to any asset the DAO whitelists. The voting power is directly proportional to the amount staked. This system creates positive competition between DAOs, protocols, teams, and wealthy individuals trying to benefit from Migaloo’s emissions.
Purpose of Restake DAO
The direction of the 5% incentive flows will be decided by $RSTK stakers of the Restake DAO. All interested parties, such as token projects, community DAOs, etc… will have a natural interest in directing liquidity incentives towards their purposes, for example, the ASH DAO might want to provide perpetual incentives to their LP pairs in order to make their ASH token more liquid or SAIL DAO wants to attract external projects through incentives flows directed by Restake DAO etc.
The fight for control over incentive flows will induce natural demand for the $RSTK token and ensure the prosperity of the Restake DAO. It is the very same dynamic as 've' tokenomics used for liquidity wars. In the first iteration of ReStake DAO, a proposer will need to pass a gov prop which assigns each asset’s share of the yield, however, in future iterations of ReStake DAO, a gauge mechanism will control the distribution of the yield in real-time.
How does it work?
Users are able to buy the $RSTK token and stake the token to the ReStake DAO via DAO DAO. Once a user has voting power they can now use their voting power to vote for the assets that they want to receive Migaloo inflation via Eris Protocol. Anyone can buy ReStake, whitelist a token via governance and then direct yield towards their toke.
Once a user has cast there vote the reward rates of the Whitelisted assets is updated in real time and the inflation going towards each asset is shifted. Want more inflation for your assets? Buy some $RSTK and stake it!
Links
ReStaking Interface**:**
ReStake DAO:
https://daodao.zone/dao/migaloo1pxuqr7je9h7slchdsgz5ufc3kklrevyfnxmq0dkjru5k6e6mdm2sw23hfz/home
Gauge Vote:
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