Staking Advanced Payments add flexibility to manage funds and resources in an efficient, open, and trustless way within your colony. This feature empowers contributors to create advanced payment types by staking the native token of the colony. By doing so, they no longer require "Payer" permissions or higher to initiate payments. However, funding the payment still requires "Payer" permissions or another supported decision method such as multi-sig permissions or Lazy Voting.
This mechanism allows you to effectively "pay to advertise" your proposal to others. If the proposal gains support, it proceeds smoothly. If not, you only risk losing your staked tokens if you go against the collective decision.
First steps
Install the extension
The first step is to install the Staking Advanced Payments extension. The extension installs and enables automatically in one flow with the default settings.
Note: You will need to use Root permissions to install the extension.
To install:
Go to the Extensions page of your colony and click on the "Staking Advanced Payments" extension to open its page.
Click on the Install button and complete each of the required transactions, which will install and enable the extension.
Required stake amount
You can set the required stake members must provide when creating Advanced payment types. The percentage value set in this field will be relative to the team the payment is created in.
If the payment is created in General, it will be a percentage of the whole colony's total reputation.
If the payment is created in a specific team, it will consider only the total reputation in that team for the required stake amount.
For example:
If the total reputation in your Development team is 1,000,000 reputation points, and the extension Required stake is set to 0.01%. The required stake to create the payment will be 100 of your colony's native tokens.
Configuring the extension
Once the extension has been installed:
Navigate to the Extension settings tab.
Configure the Required Stake percentage as needed.
Click Save settings to apply the changes.
How to use Staking for Advanced Payments
Create a New Action
Navigate to the left-hand menu bar and click the Create action button. This will open the action creation panel on the right-hand side.
From the Action Type dropdown menu, select the desired payment type:
Advanced Payments: Create complex payments involving multiple recipients receiving different tokens at different times.
Split Payments: Divide a sum of money among recipients equally, unequally, or based on the selected recipients’ reputations.
Staged Payments: Break down a payment into separate milestones that can be released independently.
Enter Payment Details
Complete the details for the payment action:
Action Title: Give the action a title that describes the payment you're about to make.
Example: "Payment for Marketing Campaign"
Team to Pay Funds From: Select the team from which the funds will be drawn.
Recipients: Add the recipients of the payment.
Amounts and Tokens: Specify the amount and type of tokens for each recipient.
Delays: Set any delays or schedules for the payments, if applicable.
Decision Method: Choose the Staking decision method to initiate the staking process.
Description (Optional): Provide more context about the payment for other team members.
Confirm Details and Stake to Create
Review all the details of your payment. If everything is correct:
Click the Create payment button.
Stake the required amount of your colony’s native tokens. This stake acts as a safeguard against malicious, frivolous, or spam payments.
From there, the payment will continue through the advanced payment process as normal.
Returning stakes
Cancel during Review: You are able to cancel the payment during the review process and receive all of your staked tokens back.
If the Payment is supported: You will receive your full stake back once the payment is processed.
If the Payment is Deemed Undesirable: If past the review process and the payment is canceled. The user who cancels it can choose to release or punish your stake. If punished, you will lose your original stake amount and an equivalent amount of reputation.
Example Use Case: Marketing Campaign Proposal
Imagine you're a contributor who believes that launching a new marketing campaign would greatly benefit the colony. However, you don't have "Payer" permissions to initiate payments. With Staking Advanced Payments, you can still propose and initiate this campaign.
Creating the Proposal
Define the Campaign: Outline the stages of the marketing campaign, such as content creation, advertising, and promotional events.
Create a Staged Payment: Use the Staged Payments option to break down the total cost into separate milestones corresponding to each phase of the campaign.
Stake Your Tokens: Stake the required amount of the colony's native tokens. This demonstrates your commitment and allows you to make your proposal public to others.
Start Using Staking with payments
With Staking Advanced Payments, you can:
Increase Autonomy: Empower team members to make payment requests without needing higher-level permissions.
Maintain Security: Use staking as a deterrent against undesirable payments, ensuring that only serious proposals move forward.
Enhance Collaboration: Encourage team members to support each other's proposals and create their own.