One of the ideas Id like to explore is a spin on the liquid staking rewards program; lottery entries for a big MNDE prize
The current rewards program is about to go get cut in half and will likely lead to a few people switching staking providers. My idea is to “change the math” and make it more exciting to participate in staking with Marinade by giving a massive incentive to fewer people and tapping into the gambler in most of us
The goal of this lottery is primarily to increase Sol staked – this would not be aimed at accomplishing 1) more governance participation or 2) more contribution in marketing
Average growth case has 11million MNDE going out in March for “Earn 2” with an average of 12m SOL staked
We should aim to have a campaign that can get an additional 8million in SOL staked at a cost of less than 14million MNDE
How can we accomplish this:
Set aside 1million MNDE for a new lottery incentive. This is an additional bonus that stakers are eligible to win through lottery. The lottery is “Winner Takes All” – bigger prizes attract more attention.
That 1million would be locked and vesting in governance over the course of 5 years or could be received immediately at a discounted lump sum just like a lottery
Other flavors to explore
The lottery can increase as SOL staked is increasing. This would be good if we have evidence that the lottery is attracting new users
Stakers could swap their guaranteed MNDE from liquidity rewards with more lottery entries
Lottery drawing could have no winners (ie there are 100 million combinations and issue 1 raffle per staked SOL – ie 20 million SOL is 20 million tickets and no one draws the winning number). This direction makes the end date uncertain but could allow for multiple drawings (refill the lottery based on success)
Native staking and Liquid staking get the same entry amount (1 ticket per SOL staked per month)
First drawing would be after X amount of tickets are given or a specific date (end of earn 2)
I would be very excited to announce such a big prize and think this can be a viral campaign!