Hello again friends,
I am proposing something else that will hopefully help get more people get onto the StakeWise ecosystem.
The purpose of this proposal is to increase Product-Led Growth by offering free trials to first-time wallets who are looking to stake with StakeWise. With free trials:
- Wallets can experience the StakeWise platform.
- Wallets that want to deposit low amounts of ETH, such as 5 ETH, can benefit greatly for the amount they will save in protocol fees.
- Wallets trying to decide between staking platforms might go with a free trial because it will help them cover gas fees.
For every first-time wallet, we can give 1-2 months of no protocol fees. Staking 10 ETH at 100 GWEI gas fee, 1.75 months of free StakeWise would reimburse them for their staking gas fees. Staking 5 ETH at 100 GWEI gas fee, 3.5 months of free StakeWise would reimburse them for their staking gas gees.
|APY (w/ Protocol Fee Accounted For)||4.86%||4.86%||4.86%||4.86%||4.86%|
|Gas Fees GWEI||100 GWEI||100 GWEI||100 GWEI||100 GWEI||100 GWEI|
|Gas Fees ETH||0.007801||0.007801||0.007801||0.007801||0.007801|
|Annual Eth Earned||0.13365||0.2673||0.5346||0.8019||1.0692|
|Eth Earned per Month||0.0111375||0.022275||0.04455||0.066825||0.0891|
|Monthly Protocol Fee||0.00111375||0.0022275||0.004455||0.0066825||0.00891|
|Months Until Protocol Fees Pays for Gas||7.004264871||3.502132435||1.751066218||1.167377478||0.8755331089|
|Gas Fees Discount (2 Months Trial)||28.55%||57.11%||114.22%||171.32%||228.43%|
|Gas Fees Discount (1 Month Trial)||14.28%||28.55%||57.11%||85.66%||114.22%|
For every time a wallet returns to stake more ETH, we can give them 1-2 months of no protocol fees to encourage loyalty of users and to attempt to increase TVL.
We could always test out a Free Trial program for x months and track the performance. If this doesn’t help increase TVL (like it’s purpose), we will vote to not renew the Free Trial feature in x months.
I think it is okay if people create multiple wallets to take advantage of the Free Trial. For the price of free StakeWise for 1-2 months, we will keep users for x months (based on the Avg Length a Staker stays with StakeWise).
Hypothetically, a wallet deposits 2,500 ETH and gets 2 months of free trial, then the DAO will lose 1.8 rETH2 in protocol fees for two months of free service. If this wallet stays on for 12 months, StakeWise DAO earns 12.2 rETH2 for the year.
I need analysis on what is the avg length a staker stays with StakeWise. We obviously don’t want to lose out on fees, but I think we can bear 2 months of free service to new wallets in exchange .
- 2 Months
- 1 Month
- No Free Trial
- New Wallets Only
- Returning Wallets Only
- New and Returning Wallets