Summary: Introduce PLR staking in order to increase market interest and community growth. As we pivot to community ownership and governance, PLR staking can help to motivate community members to get more involved through aligned incentives.
Motivation: Staking has proven to be a successful driver of token / network adoption. Community members are rewarded for locking up tokens, providing ongoing benefit to users, while also reducing open market supply.
Approach: At the most basic level, Pillar can offer a token vesting opportunity where community members lock up their tokens for a pre-determined amount of time in order to earn a specified reward. The longer the lock up, the greater the reward. However, Pillar should also evaluate new opportunities such as NFT farming in collaboration with artists/creators. When Balboa was first introduced, one suggestion was a governance multiplier for those users that staked PLR or PLR LP tokens. Another approach could be a form of governance or participation mining which rewards community members for being active in chat, forums and more. The most active, supportive and loyal are rewarded the most. If staking, those rewards could be influenced by a multiplier. Generally speaking, staking and similar token mechanics can enable a more rich community experience vs. another wallet interface.