Hey Everyone. , we are excited to announce the complete proposal for PSP 2.

24 Oct 2022, 13:48

Hey Everyone!, we are excited to announce the complete proposal for PSP 2.0! This complete revamp of the PSP system comes with a lot of major changes, here’s just a few highlights! 👥Social Escrow and Staking Reforms: A first of its kind escrow model in DeFi which allocates a bigger share of protocol revenue to users who Trade, Make, Refer and Pool assets 🪂 PSP Fairdrop - We propose dropping one-year linearly vested PSP for ParaSwappers that got excluded from the first airdrop. vPSP holders will have access to the same features as sePSP stakers, participating in ParaBoost boosting and protocol fees redistribution ✂️ PSP Emissions Reducing and Fee Sharing We propose drastically reducing PSP emissions and token inflation and replacing them with protocol fees in native chain tokens like ETH 🔄 Migration With Bonus for Existing Stakers and Introducing Vested PSP 🥩 Staking Transition and Fix: Finally, we’re also proposing to change the sPSP staking system to make it PSP 2.0 ready, since recent events such as the Wintermute hack (Pool 4) has lead to some pools giving no yield. For Pool 10, we’ve gotten in touch with the market makers and will be distributing missed rewards to stakers. A separate vote will be out soon to deal with this 👍 We’re beyond happy to finally get to share this ambitious proposal with you. Thanks to all the DAO members that helped us with all of their brilliant ideas and sub-proposals, you’re what makes this community amazing. Let’s discuss these ideas and start the Social Escrow revolution! Join the conversation! https://gov.paraswap.network/t/psp-2-0-renaissance-social-escrow-fee-redistribution-and-fairdrop/1032