Saturday, July 23 – One the most fundamental aspect of the Star Atlas metaverse is now live and available for users to access. That is, of course, the Star Atlas DAO. Next to the Unreal Engine 5 showroom, the Star Atlas DAO is one of the most anticipated releases from Star Atlas this year. Players and investors alike can now stake their POLIS tokens into the Star Atlas POLIS Locker and earn rewards based upon a combination of factors.
The significance of the Star Atlas DAO is not lost upon the Star Atlas community. In addition to distributed rewards in the form of more POLIS tokens, participants in the DAO can expect to have an influence of the Star Atlas metaverse through a structure known as POLIS Improvement Proposals. Star Atlas is expected to become a fully decentralized game governed by the DAO, a game truly owned by the players.
Interacting with the Star Atlas Dao can be a complex process where misunderstanding the risk can lead to regrettable and unalterable financial decisions. Star Atlas published a full guide detailing all the aspects of the DAO. Let’s break it down further.
What is the Star Atlas DAO?
The Star Atlas DAO structure
Note: There should be 4 regional DAOs under each faction DAO. Current image displays the number of regional DAOs incorrectly.
At its core, the Star Atlas DAO is a ecosystem that is designed to operate at multiple levels from small organizations run by players to the universal level which governs the whole game. Players familiar with a Federal government system will recognize similarities to National, State, County, and Local levels of government. In a simple sense, the Star Atlas DAO is structured in the same fashion. The universal level governs the entire ecosystem. Underneath the universal Star Atlas DAOs are the Faction DAOs. The Faction DAOs represent each of the three main Star Atlas Factions. Finally, the regional DAOs under each faction represent a digital-geographic section of the Star Atlas metaverse.
As the above infographic depicts, each level of DAO is responsible for different political functions. Currently, players should be able to interact with all three levels of the DAO using the same pool of tokens. Further details about cross-sub-DAO interaction have yet to be released.
There are restrictions in place that do prevent a single or small group entity from dominating the entire ecosystem. To participate in a Faction DAO, a person must be a member of that faction. In order to participate in a solar system’s DAO, a member must be a land owner in that system.
How to Stake POLIS – Locker Mechanisms
Star Atlas uses lockers to facilitate its staking mechanisms. The first of these lockers is the POLIS locker, used to secure a user’s POLIS tokens and periodically distribute rewards in return.
You can access all of Star Atlas’ lockers, including the POLIS locker, here.
POLIS Lock Period and Voting Power Multiplier
The action of staking POLIS is relatively straight forward. Connect the wallet containing POLIS tokens and navigate the the locker tab. The landing page will display current wallet info as well as account history. At the bottom of the page is where a POLIS owner can choose to stake POLIS for a given length of time. Users can select anywhere between two weeks to five year periods for staking. In return for longer lock periods, users will receive a fixed multiplier of their Polis Voting Power. Select the amount of tokens to stake and then click lock. POLIS staking is now complete.
Important: POLIS staking is irreversible.
Once staked for specified amount of time, the original amount of staked tokens will be locked until the selected period has expired. That means if tokens are staked for a period of five years, they will be unavailable to trade or transfer until five years has elapsed.
What is POLIS Voting Power (PVP)
POLIS Voting Power, or PVP is a numerical representation of a single staker’s voting power in the Star Atlas DAO. At the time of initial stake, PVP is determined by a function of number of tokens staked multiplied by the duration of stake multiplier.
(POLIS x Duration Mult. = PVP)
A player staking 100 POLIS for 9 months would receive 150 PVP at time of stake
A player’s PVP will decay linearly over time, eventually reaching zero at the end of the stake duration.
PVP is and will be used to determine a players voting weight over POLIS Improvement Proposals and the number of rewards they receive.
A player can elect to extend the duration of their stake and thus refresh their PVP at any given time. A player, however, they cannot reduce their time staked from originally selected.
POLIS Staking Rewards
The rewards for participating in POLIS staking is more POLIS tokens. There are currently 128,050,000 POLIS tokens available for distribution over a fixed curve period of eight years. User rewards a determined by their PVP at the time of a locker snapshot. A user’s PVP is then calculated against the PVP of all participants to determine final reward emissions for that period. Thus, an individual’s POLIS emissions are determined by a complex formulae of player-ecosystem decisions and not set to a linear rate of distribution.
The first snapshot will occur Aug 1 with rewards distributed Aug 2.
POLIS Improvement Proposals
Staking rewards are not the only form of reward to POILIS stakers. The Star Atlas DAO will utilize a framework called POLIS Improvement Proposal or PIPs for shorts. PIPs are similar to legislative bylaws that determine enforcement actions across the Star Atlas ecosystem dependent on the level of DAO by which they are proposed.
The first three PIPs, known as PIPs 1, 2, and 3 are currently being drafted by ATMTA, the makers of Star Atlas. These first three PIPs will lay the foundational groundwork by which the DAO and subsequent PIPs are to operate.
- PIP-1: PIP Purpose and Guidelines
- PIP-2: Ratification of Star Atlas Foundation
- PIP-3: Ratification of ATMTA Service Agreement
The Star Atlas DAO and Treasury will be executed by a three person board located in the Cayman Islands. The board does not own the treasury and will be legally bound to execute the passed proposals of the Star Atlas DAO. More details about the Star Atlas Foundation, the player run Star Atlas Council, and future PIPs will be released by ATMTA in the coming weeks.
A full guide to the POLIS locker can be found in the Star Atlas Knowledge Base.
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The Hologram is not endorsed or paid by the Star Atlas team. Any information published by The Hologram or its writers should be considered as informational in nature and does not constitute any financial advice.