DIP-4 & 5: Amendment 1

Headline: Relabeling "staking" because it's confusing

Author: The DIMO Foundation

Submitter(s): The DIMO Foundation [0xCED3c922200559128930180d3f0bfFd4d9f4F123]

Status: Deployed

Voting URL: Snapshot

Discussion Forum: Discord #🗳️governance forum

Vote Type: Level 1

Abstract

This proposal alters the terminology used in DIP-4 and DIP-5 to replace the term "staking" with "bonding".

Motivation

Many are confused by the term "staking" as used in DIP-4 and DIP-5. "Staking" in the context of blockchain projects usually refers to an activity whereby users lock up tokens for the purposes of earning a yield.

In DIP-4 and DIP-5, "staking" refers to hardware manufacturers, node operators, and client publishers putting up tokens as a security deposit as a condition of receiving a license. There is no yield for staking.

This amendment proposes using the term "bonding" instead.

Specification

If passed, this proposal would replace every instance of "stake" with "bond", "staking" with "bonding", "staked" with "bonded", and "staker" with "licensee" in DIP-4 and DIP-5.

Implementation

If passed, DIP-4 and DIP-5 would be updated as specified above after the four day timelock concludes.

Copyright

Copyright and related rights waived via CC0

Citation

Please cite this document as:

The DIMO Foundation, " DIP 4 & 5 Amendment 1", March 2023. [Online serial]. Available: [https://github.com/DIMO-Network/DIP]

Changelog

Disclaimer

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