Hello! DIP18 has ended, and the voting result is now announced as follows:
The EOS staked in the USN contract will help TAG mining pool node to vote, obtain votes by buying REX, and delegate voting rights to the TAG mining pool. The node revenue obtained from voting will be used as liquidity reward for the EOS+USN liquidity pool.
Buying REX by USN collateral rules:
1. Start buying REX for the first time by 20% of the total amount of USN collateral;
2. Afterwards, 10% of the total amount of USN collateral will be used to buy REX at 02:00 (UTC) every 5 days;
3. When REX leasing rate in the entire network exceeds 85%, sell all REX in the USN contract. When the leasing rate falls below 75% again, buy REX again according to the above plan 1 and plan 2.
Node voting revenue distribution rules:
1. The system automatically claims TAG mining pool reward every hour and distributes TAG mining pool reward to liquidity provider according to the proportion of the average liquidity amount in the EOS+USN liquidity pool in the past hour, and liquidity provider can claim them at any time ；
2. The TAG mining pool revenue received by the system will be directly distributed to liquidity provider in accordance with the above rules, and it will not be automatically converted into EOS. The remaining tokens will be automatically converted into EOS and distributed to liquidity provider in accordance with the above rules.
The starting point of this proposal: Help TAG mining pool to jointly prosper the EOS ecosystem, which can not only improve the fund efficiency of USN collateral, but also further promote the stability of USN price.
Note: As REX in part of the collateral (max 10%) in the USN contract is locked, under the extreme black swan market, when a large liquidation amount of USN occurs or users withdraw collaterals together within a short time, there is a possibility that it can not be completely liquidated or it is failed to withdraw all the collaterals. For this reason, we use data modeling to buy REX by only 10% of the total amount of USN collateral every 5 days. This is a relatively safe and reliable ratio, but there is still no guarantee that the above problems can be completely avoided. However, the probability of problems has been greatly reduced.
- The proportion of the total votes of the proposal to the total BOX staking amount (abbreviation: proposal participation): 58.20%;
- The received votes of Option A (Agree) accounted for 99.40% of the total votes of the proposal;
The DIP18 has met the execution conditions. The Defibox Foundation will execute the proposal in accordance with Option A (agreed). From now on, REX will be bought according to the proposal, and immediately delegate voting right to the TAG mining pool. The corresponding TAG reward will be distributed after completing the development and audit of feature. For information about the specific launch time and more detailed reward distribution rules, please follow the official announcement.
In order to buy REX more quickly with USN collateral, and help TAG mining pool reach to 50 million EOS. After calculation, under the condition of ensuring the security of the system, the proportion of the first purchase of REX increases from original 20% to 30% appropriately, the proportion of second purchase of REX increases from 10% to 20% appropriately (buy 50% of USN collateral within 5 days), and continue to buy REX at the original 10% from third purchase.
Thank you for your support and attention to Defibox!
November 30, 2020