This keeps yields competitive while avoiding additional dilution and preserving treasury runway, consistent with the Q3 2025 policy direction approved by the DAO.
2) Motivation
Policy continuity. The DAO aligned around a 200k CYBER/quarter schedule in Q3 2025; keeping it steady reduces churn and avoids signaling volatility to stakers.
Treasury sustainability. Higher circulating supply compresses stake ratio; increasing emissions now would chase a moving denominator and accelerate dilution.
Security & participation. With 4.4M staked, we target steady participation while other growth programs (e.g., Surf and cross-chain liquidity) expand the user base that can convert to stakers.
3) Specification
Item
Q3 2025 (Reference)
Q4 2025 (Proposed)
Quarterly incentive
200,000 CYBER
200,000 CYBER
Circulating supply
44M
52M
Staked supply
4.2M
4.4M
Stake ratio
~10%
~8.5%
Indicative APY*
~19%
~18.2%
APY formula and calculation (assumes constant stake):
APY ≈ (Quarterly rewards / Staked) × 4
= (200,000 / 4,400,000) × 4 ≈ 18.18%
4) Impact Analysis
Yield competitiveness: A ~18% headline APY remains attractive for mid-cap L2 ecosystems; the slight step-down vs. Q3 stems from the larger circulating base, not a policy cut.
Treasury runway: Flat emissions preserve flexibility for Q1 2026 without pre-committing higher issuance.
5) Success Criteria (by Dec 31, 2025)
Stake ratio maintained ≥ 7% through quarter end.
No mid-quarter top-ups required (i.e., the 200k stream suffices).
Governance participation: on-chain vote meets quorum and ≥51% approval (per DAO norms; same as the Q3 proposal).
6) Conclusion
If this proposal passes, the treasury will allocate 200,000 CYBER to the staking incentives module for Q4 2025, maintaining the DAO’s steady, sustainable emissions policy.
