A tale of sustainable LP rewards

We won’t be part of this current trend of race to the bottom staking.

If you are an active member or lurker on our Telegram, you will realise we often share our thoughts out loud. Large holders and indeed all holders would like us to have more liquidity. The fact is, to compare our liquidity with coins which have unaudited staking mechanisms and as seen by some other recent harvest based coins, even audited coins can have their dramas.

For this reason we will never ask LPs to stake their coins into a contract, we have instead decided on a system of daily snapshots and then each Friday rewards are given we are calling this ‘Into the weekend’ and LPs will see a drop tonight multisent. This could be GVY, this might be a NFT which is redeemable, it will change every week, but everyone will always be rewarded. If we have been doing particularly well this will also be rewarded.

I’m calling this ‘Human Staking’, you should have the rights to put in liquidity or remove it when you want to, not lock it up in a race to the bottom staking scam. We could have easily created a sub-coin called vinyl and issued that, but what’s the point here? We’re here to stay and that would just damage our credibility in the long run and inevitably lead to many people being burnt or hurt.

All the best.

Team Groovy