Summary

This proposal seeks to cease emissions of $LORDS through the current delegation system entirely.

Background

Currently, Realms NFTs that have been bridged to Starknet and are delegated to vote receive 49 $LORDS per week, streamed per block to the owning wallet. At the time of writing, this equates to an emissions rate of ~245k $LORDS per week. Early whitepaper versions discussed the potential to change or cease staking emissions when Eternum reached mainnet. With the successful launch and conclusion of Eternum S0 and plans to launch S1 in March 2025, the time has come to reconsider staking emissions and the future of $LORDS in the Realms Autonomous World (RAW).

Proposal

Cease emissions of $LORDS to Realms NFT holders completely, as soon as reasonably practicable.

Reasoning

The current rate of inflation of the $LORDS token from staking emissions is ~7.5% when compared against the token circulating supply. This inevitably has a detrimental impact on price through selling pressure. Realms NFT holders have enjoyed over 3 years of staking emissions and have either benefited greatly from selling $LORDS on the market, or hold significant potential future interest in the RAW ecosystem by holding accumulated tokens. With the establishment of the Lordship Protocol and the seasonal prize pools for Eternum, there are new avenues for participants in the ecosystem to earn $LORDS in a circular fashion. Ongoing staking emissions serve only to inflate token supply.

Execution

Pending the approval of this BIP, emissions to bridged and delegated Realms NFTs will be ceased. This change is to take effect on January 25 2025.