DefiboxDAO officially launched the DIP41 proposal

Dear users:

Hello! Regarding the Defibox multi-chain exploration plan, WAX, as a side chain of EOS, has a very high similarity and low deployment cost; Secondly Defibox is familiar with the EOS/WAX project team and WAX has convenient business environment. Defibox is planning to integrate the Swap protocol into the WAX chain. Defibox team member Raven has recently initiated a proposal about WAX in the community. After a full discussion in Board, the DIP41 proposal is now officially launched: About WAX deploying the Swap contract , the voting time is from 17:00 (SGT) on January 12, 2022 to 17:00 (SGT) on January 13, 2021. The specific information is as follows:

Proposal content:

After the cross-chain WAX, BOX tokens will be used as the tokens of the Defibox project and will continue to use the multi-chain issuance mechanism of BOX tokens to ensure that the actual total circulation of each chain of BOX tokens is ≤5 million BOX.

Combined with the EOS chain token issuance, income distribution and mining rules, etc., the rules for the operation of the WAX chain are as follows:

• 0.3% handling fee: of which 0.2% is for market makers and 0.1% is for agreement revenue;
• Token issuance rules: Follow the EOS chain issuance rules, namely 70% protocol mining, 10% application rewards, 7% special operating funds, 3% ecological funds, 2.5% DefiboxDAO operating incentives (Note: It is planned to cross-chain 50,000 BOX for the first time, and 100% of the first release amount will be used for WAX market making and mining incentives);
• Protocol income distribution: 60% automatic market making (WAX+BOX), 30% executive team income, 10% risk reserve (WAX);
• BOX tokens will be deposited and withdrawn across the chain through the Hoo Exchange;
• In the future, parameters such as WAX mining weight will be implemented in accordance with DIP41 standards. If there are major changes, it will be re-determined through BOX DAO voting.

We hope that every BOX token holder can participate in the governance of the Defibox project and help the development of Defibox!

Execution conditions:

• The total votes of the proposal must account for ≥ 10.00% of the total valid BOX votes; (abbreviation: proposal participation)
• The votes for an option must ≥ 55.00% of the total votes of the proposal;
• After the voting is successful, the Defibox executive team will start to execute;
• Proposals that do not meet the execution conditions after the voting ends will be cancelled.

Execution plan:

If one option satisfies execution plan, it means a successful voting. Defibox will start execution after the vote is successful. For the latest information, please follow the official announcement.

Additionally：

• 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.

Defibox community:
International Community：https://t.me/Defibox
Chinese Community：https://t.me/DefiboxCN

Thank you for your support and attention to Defibox!
Defibox Project Executive Team
January 11, 2022