Hello! The BOX supply has reached 1 million on September 30, 2020. According to the voting result of BOX DAO No. 13 governance proposal, the new BOX token model takes effect immediately. The details are as follows:
Token issuance rules
The BOX token issuance plan: 70% of the BOX is used for DeFi protocol mining, 15% of the BOX is distributed to the Foundation, 7.5% of the BOX is distributed to the team as the incentive, and 7.5% of the BOX is distributed to Newdex as reward. The BOX distributed to the Foundation is released linearly with mining, and will be in circulation after released, which will be used for product development, operation and promotion, risk reserve, etc.; the BOX distributed to the team is released linearly with mining, and will be unlocked in 5 times after released, unlocking 1.5% of the total BOX each time. The first unlocking date is November 11, 2020, unlocking one time every six months.
Revenue distribution principle
BOX token adheres to the basic principle of same right with same token. Each BOX token enjoys the same rights and interests. Therefore, revenues generated by the Defibox protocol will be fairly distributed according to the BOX amount. The Defibox Foundation will participate in staking reward and voting governance with all BOX token holders, and no longer enjoy the priority right to distribute Defibox protocol revenue. The distribution method of all revenues generated by the Defibox protocol will be decided by BOX token holders through proposals and voting.
Revenue distribution method
- The current distribution method of Defibox protocol revenue is as follows:
- Swap 0.1% transaction amount distribution method: 100% is used for BOX staking reward;
- USN interest distribution method: 100% is used for BOX staking reward;
- USN liquidation penalty distribution method: 100% is used for BOX staking reward;
- Decentralized lending fees distribution method: 100% is used for BOX staking reward;
Note: USN revenue distribution has entered the development stage after the successful voting of BOX DAO No. 13 governance proposal. For safety reasons, it will be launched after sufficient testing and security audit. Please be patient.
For more details, please click to view: "Defibox Whitepaper V 3.0"
Thank you for your support and attention to Defibox!
September 30, 2020