Summary: Enable sOHM for use on other protocols through a wrapped wOHM, and prevent rebase-hopping in staking.
Background: Perhaps the two most prevalent improvement requests have been: enable sOHM for use on other protocols, and prevent users (especially LPs) from staking right before a rebase and unstaking right after. A composable version of sOHM means it can be used as collateral for borrowing, for example in a Fuse pool. The prevention of rebase-hopping means more rewards for committed stakers.
Abstract: This proposal aims to approve an implementation of the staking contract that allows users to claim sOHM, the rebasing token we have today, or wOHM, a static token that is composable with other protocols. This new contract would also require new stakers to wait until a rebase has occurred before they can claim their sOHM or wOHM. Through this implementation, we can also enable Hades on the staking contract.
Motivation: Enable new use cases and features for OHM, and ensure fairness of reward distribution.
Note: This contract is currently undergoing an audit. We will not deploy it until that audit has completed. Implementing this will also require a migration; stakers will need to unstake from the current contract and restake in the new one.
This would be how we integrate OHM into Fuse and other protocols. A wrapped version of sOHM is required for these integrations. We can alternatively drop the rebasing sOHM entirely; however, I feel that the optionality is good, since many will not utilize other protocols with their sOHM and may appreciate the natively increasing balance.
Timeline: We would deploy this change and initialize the fuse pool on Monday, May 17th.
For: Implement this new staking contract, keep sOHM and wOHM.
For: Implement this new staking contract, drop sOHM for only wOHM.
Against: Keep the current staking contract, do something different.