Elevating MAP Protocol User Benefits with StaQ: Enhancing Liquidity and Earnings
Proposer: MAP Protocol Foundation
Date: 19/03/2024
Background
The evolution of the Bitcoin Layer2 (L2) ecosystem brings forth the promise of predictable returns through various Proof-Of-Stake networks. Despite these advantages, one critical challenge remains: staking often restricts asset liquidity, thereby limiting opportunities in the broader DeFi space.
To address this, StaQ emerges as a pivotal solution. As a ReStaking application developed within the MAP Protocol ecosystem, StaQ not only utilizes MAP Protocol technology but also pioneers in empowering liquidity for staked tokens within the Bitcoin L2 ecosystem.
Significantly, $MAPO stands as the inaugural token supported by StaQ, underscoring a commitment to extend support to other Bitcoin L2 tokens in the future.
Proposal Details
The MAP Protocol Foundation proposes an innovative collaboration leveraging the Ecosystem’s MAPO tokens in conjunction with StaQ for staking and liquidity provisioning. This initiative aims to:
1. Staking boost: Allocate 800 million MAPO tokens in the Ecossytem to StaQ nodes, reinforcing network security and stability, which in turn, is expected to bolster performance and elevate earning prospects for MAP Protocol members.
2. Liquidity enhancement: Utilize another 800 million MAPO tokens in the Ecosystem to establish a Liquidity Pool (LP) with stMAPO, ensuring ongoing liquidity. This strategic move facilitates the liquidity of staked tokens and the use of staked tokens in various L2 DeFi applications, enhancing the ecosystem’s utility and user engagement.
Expected Outcomes
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Robust Liquidity: By dual-purposing MAPO tokens for staking and liquidity provisioning, we ensure asset liquidity, encouraging wider participation in the DeFi ecosystem.
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Enhanced Earnings: The strategic staking of MAPO tokens through StaQ within the MAP Protocol ecosystem aims to secure higher returns, leveraging improved network stability and performance.
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Community Driven Growth: This initiative empowers the community to actively participate in governance, shaping the ecosystem’s future through DAO proposals, and enjoying the collective achievements.
Budget
- A total of 1.6 billion MAPO tokens in the Ecosystem is proposed for allocation to support the staking and liquidity provisioning efforts outlined.
Conclusion
MAP Protocol Foundation recognizes StaQ as a strategic innovation, poised to significantly amplify benefits for MAP Protocol users. By earmarking 1.6 billion MAPO tokens for this purpose, we are not only investing in network stability and user earnings but also paving the way for enhanced participation and growth within the ecosystem.
This initiative marks a pivotal step forward, demonstrating our dedication to maximizing member benefits and supporting the expansion of the Bitcoin L2 ecosystem through additional token integrations in the future.
On-chain Voting
[will be out soon]