In order to ensure a safer and better protocol, we will like to propose some updates for the Valkyrie Protocol.
The following updates are results of the “Share to Earn” campaign that was launched shortly after TGE. We expect these updates will help with more effective campaign creation, and also protect the value of the VKR token going forward.
1. Option to set Campaign Participation and Referral reward lockup periods
Currently: Participation and referral rewards are claimable immediately, which allows for abuse to create multiple wallets.
Proposed: Through this update, participation and referral rewards lock-up period will be possible to be set by the campaign creator, which will disallow for immediate wallet transfers for new wallet creation.
2. Parameter to set referral reward caps
Currently: Valkyrie Protocol has a referral reward cap. This is intended to prevent wallet abuse and misbehaviours, and support VKR value accrual.
Proposed: Through this update, it will ensure the only method to increase the referral reward cap will be through governance staking.
Through this proposed update, we are looking to safeguard the integrity of the protocol and enhance campaign parameters to better serve the Valkyrie campaigners and community. We believe that this will attract better campaigns, and ultimately secure a better future for the Valkyrie Protocol. We welcome any further constructive feedback in regards to this proposal.