Proposal: Deposit vXRUNE for Tiers

Hello,

Just wanted to bring to attention that vXRUNE should also be allowed to be deposited for tier multipliers. Many Thorstartians have their XRUNE locked into sushi lp or TC lp and it isn’t economically viable for them to purchase more XRUNE simply for gaining the tier rewards they deserve for more or less… locking xrune. This is especially true for those who have staked XRUNE for a 4% apy on Thorstarter and have no ability to acquire more than what is necessary for an IDO.

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I agree, there are many reasons why factors like vXRUNE, LPing, time in pools/time of staked vXRUNE to give extra benefits, would be a lot more benefitial to the project and long term contributors, than the current tier system.

TBH, I’m scratching my head to see the value of the current implementation of the tier system.
It is good for whales to get in and out easily and get a bigger allocation (they don’t take on risk of IL, but simply buy their way into the tier system when they come allong), and it helps the price appreciation of the XRUNE token. Which is nice, but ultimately it’s a whole lot of XRUNE that is locked up and not providing any real value to the market. (Deeper liquidity pools do provide value for comparison.)

I believe THORStarter has the potential to become the biggest launch platform in the crypto space, but in order to acheive that, I think they should spearhead around XRUNE being the settlement currency for upcomming projects, the same as RUNE is the settlement currency in order to create the biggest exchange. (THORStarter can litterally be the “investment” platform of the crypto space, and THORChain is the exchange to fuel access across all chains.)

The value of XRUNE will skyrocket as a result of the value of the platform and user adoption, not by providing mechanisms to take XRUNE out of circulation by having it locked up to simply partake in IDOs. vXRUNE for governance on the other hand is a great model for the longeveity of the project. (single side stake, LP lock for vXRUNE, bonds on LP,… all great)

3 Likes

I agree, this proposal has my support.

3 Likes

It’s shocking to me that vXRUNE LP positions are not considered for tier multipliers. Why in the world would Thorstarer leaders treat us as second class citizens? We support the community by LPing and this is the thanks we get? We’re told to simply go buy more XRUNE just for the sake of proving our commitment to the project for staking??? We’ve already proved my commitment by LPing our precious XRUNE.

Thorstarter team please do the right thing and recognize the dedication we’ve made to the project by LPing. Your underlying goal for the tiers is to identify those users who are committed long term to the project. We LPers are those people, no doubt about it. Please recognizer our commitment by including us automatically in the tiers.

1 Like