I had a concept that I may begin programming based on what you guys say here.
What if you could earn extra yield on staked ETH just by signing a message every 6 months?
The idea is that I'd make an on chain (and possibly on scaling solutions) smart contract where you can deposit your Staked ETH, then everyone needs to sign a message every 6 months for example. If they don't sign the message on the 6th month, then on the 7th month 10% of their balance gets equally distributed between all staked staked tokens. If you fail to sign you'd forfeit 10% of your balance, which would keep going down every month until your wallet is eventually drained. I (The creator) would make money by charging a 2.5% fee on re-distributing the forfeited funds. It would be 6 months after you sign up, so there would in theory be consistent rewards year round (Avoiding people buying Staked Staked ETH right before the forfeit date)
This would earn extra yield on already staked coins just by signing a message every few months. With a transparent smart contract there would be near zero need to trust me, no counterparty risk. Updates could be voted on by holding Staked Staked ETH
Key points: •Make extra yield on staked ETH •Transparent smart contract that re-allocates funds from lost or forgotten wallets evenly between all these possible new tokens •Not risk free, you must sign the message in a 1 month period every 6 months •Receive staked ETH anytime (I wouldn’t stake the ETH, it would use a staked ETH token like stETH by Lido
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments