Thanks everyone for the feedback and the strong support. It’s encouraging to see that people understand how this phase benefits Obol as a whole as we move into a more mature stage, where both TVS and protocol revenue are starting to compound. This growth will open the door to many exciting things we can do next.
As per OIP-1, the original design already aimed for a dynamic model where staking yield naturally decreases as more OBOL gets staked. Today, with the current amount of staked OBOL and an effective APY still around 35%, the yield is significantly higher than what makes economic sense given the scale of staking activity. By reducing the rate, we believe we can still see growth in stOBOL while keeping yields meaningful.
For context, 137,500 OBOL represents only 0.0275% of total supply per month. Even if the total stOBOL were to quadruple, the resulting yield would remain attractive (around 4–5%).
On timing two months might not be enough to complete the full design and review of the new accrual mechanisms, which is why the proposal allows the Association to extend this same reward stream for up to six months only if needed. The goal is to bridge the gap while we finalize models that are both technically feasible and legally sound, and that can evolve in phases rather than all at once.
Finally, as mentioned in our broader governance update, we’re committed to communicating more frequently and transparently, but also with the flexibility needed in a fast-changing regulatory environment. The intention is to keep everyone informed, work together as we go, and progress together toward a sustainable, long-term token model.
Really glad to see the alignment here. As we meet the required number of approvals from top delegates, I’m happy to announce that this proposal will be moving on to a vote by the end of next week, as required per the three week cycle.