I guess you don’t understand that the LP incentives laid out are set to expire in March for a reason and what your proposing isn’t anywhere near as effective as reducing sell pressure. Your also making it sound like it’s impossible to write new smart contracts which is not the case otherwise the bluna upgrade proposal wouldn’t be passed. Which is a far more detailed contract than a simple staking contract that I’m suggesting. Same with implementing code as well, Anchor is open source so just about any of us can draft the contract before it’s pushed to proposal. Audits for sure but thats not even a bad thing and in defi is just cost of business.
If we killed the sell pressure from borrowing sell off you will be a lot more happier to LP. By making borrowers LPs you can have a lot more LP rewards even that what your proposing as well.
It will also provide a massive backstop to liquidity inside the ANC UST pool.
If you are so confident in your solution, please write the smart contract that you so desire, and put it forth as a poll, and see where that goes.
The beauty and attractiveness of Anchor is it’s simplicity. That’s why nobody is keen on adding some kind of stake ANC to gain UST interest rewards limitation, which in itself makes the most sense. Having some kind of stake to gain LP rewards like what you suggest is even further off from this.
I never wanted to completely remove sell pressure, that’s not possible by just throwing tokens at the problem, the idea is to dampen it. Sell pressure needs to be solved through strategic means generating a demand the ANC token, or by removing all borrower and LP incentives, therefore nobody has anything to sell to add pressure. I’m sure nobody wants that.
The LP incentives ending in march suddenly is a massive mistake, they should have tapered it from the start or at least provide more than 1 year, having it end at a point where the ANC token has it’s own demand from having a proper use case , most other major platforms have LP support for more than a year.