sNSBT DAO

Staked NSBT (sNSBT) is a liquid staking product built to wrap gNSBT, which is a governance token of Neutrino Protocol. Launched in March 2022, sNSBT has 30K NSBT staked.

The idea of sNSBT is to allow users to earn gNSBT fees, participate in the governance, and do swaps in Neutrino, while having an option to sell their wrapped token to the open market, which is not possible with regular NSBT staking.

You can read more details about the mechanics in the article.

Introducing the DAO!

For a long time, sNSBT was managed by a centralized entity (myself). Means I did all the rewards distributions and governance decisions manually. Time has come to decentralize the management of sNSBT and that's why I'm launching this DAO.

How it will work?

I'm going to launch a DAO and distribute a virtual share of 0.1 PWR among sNSBT holders (maybe later sNSBT DAO will be able to pay this amount back to me after unstaking its share from Neutrino DAO?). From now on, sNSBT holders will be able to use Power DAO interface to vote on any transactions which require sNSBT account signature, including:

• staking rewards claim
• staking rewards management
• rewards distribution
• swaps through Neutrino
• governance in Neutrino
• decisions to allow/deny new sNSBT minting

We will see how it works and I hope it will be successful!

To participate in discussions, please proceed to the Telegram chat: t.me/snsbt. All the source code of sNSBT is published on github.com/vlzhr/stokens.