Stake DAO

Summary: This proposal seeks to temporarily pause the re-locking of MAV tokens within the sdMav contract. The re-locking mechanism will only be re-enabled if and when the MAV team introduces a revenue mechanism for veMav. Currently, no benefits are gained from locking MAV, making this a strategic move to protect our interests and potentially expedite the implementation of a revenue mechanism by the MAV team.

Motivation: The lack of liquidity for sdMav stems from the MAV team’s delay in implementing a revenue mechanism for veMav. By pausing re-locking now, we start the 4-year unlocking clock, protecting ourselves from the possibility of the MAV team never implementing such a mechanism. This proposal also serves as a potential pressure point, as the MAV team may be compelled to act faster if they see veMav being lost and the risk of a token dump increases. Should other wrappers follow suit, this collective action could further incentivize the MAV team to prioritize the revenue mechanism.

Implementation: Minimal developer time is required

Conclusion: This proposal is designed to protect our interests and potentially accelerate the introduction of a revenue mechanism for veMav by the MAV team. We encourage sdMav holders and the Stake DAO team to support this proposal.