Greetings! The DIP23: Swap Contract Liquidity Funds Participate in Node Voting has been developed and has entered the security audit stage. It will be officially implemented recently. After hearing community voice, the Defibox Foundation officially launches the DIP28 with regard to the revenue of Swap contract liquidity funds participate in node voting. The voting time is from 11:00 (HKT) on September 8, 2021 to 11:00 (HKT) on September 9, 2021, the specific information is as follows:
Defibox has officially participated in the EOS node election. The node account (bp.defi) will use the EOS funds in the Defibox contract to campaign for the EOS node and participate in the EOS eco-system construction. Regarding the revenue of the DIP 23 Swap Contract Liquidity Funds Participate in Node Voting, the following two revenue distribution schemes are proposed based on the current situation:
Scheme A: The revenue is used for market-making rewards of EOS+USDT liquidity pool
Interpretation: EOS+USDT is the largest liquidity pool of Swap and contributes a large amount of protocol income. The use of the revenue to reward EOS+USDT is conducive to the continuous growth of the liquidity and the development of the Swap protocol.
Scheme B: The revenue is included in the income of the Defibox protocol income
Interpretation: Use Defibox funds (EOS) for node voting to generate revenue as the income of the Defibox protocol income. At present, the protocol income is directly used to buy-back and burn BOX tokens. It can be predicted that the higher the protocol income, the more BOX tokens will be buy-back and burn. BOX tokens are automatically buy-back, and the price of BOX tokens will rise steadily; while the burn can continuously reduce market circulation, mitigate the inflation caused by the daily release of BOX tokens, and also help increase the price of BOX tokens.
The distribution plan of node revenue will affect the development of Defibox's future projects to a certain extent. The Defibox Foundation hopes that every BOX holders can participate in the governance of Defibox project together and help Defibox develop!
- The total votes of the proposal must account for ≥ 20% of the total BOX staking amount; (abbreviation: proposal participation)
- The votes for an option must ≥ 55.00% of the total votes of the proposal;
- The Foundation will start execution after the vote is successful;
- Proposals that do not meet the execution conditions after the voting ends will be cancelled.
If an option satisfies the execution conditions and the voting is successful, the Defibox Foundation will allocate the node revenue according to the option. For the specific launch time and more information, please follow the official announcement.
- After the governance proposal is officially announced, it is not allowed to vote during the publicity period;
- Voting will be open after the publicity period ends. Please vote within the valid time.
Thank you for your support and attention to Defibox!
September 7, 2021