Discussed at ICON P-Rep Weekly Meeting #1
Teams had different opinions on auto-restaking.
Some ideas that were presented in the meeting…
- Auto-restaking is good for user experience, as the process of being active and claiming I-Score can be viewed as clumsy.
- Auto-restaking is philosophically against the point of the ICON network which encourages activity and contribution. It would also make it difficult for newer teams if ICONists can just vote once and compound automatically without manual intervention.
- Auto-restaking requires a user’s private key and would be a security risk. Also, it would likely be impossible on Ledger directly.
- Maybe this kind of auto reward structure should be something reserved for second layer solutions like Coinbase, Binance, etc.
- ICONation brought up that each ICX claim is a taxable event. Auto-restaking could be dangerous unless there was a solution to manage taxes.