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:
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- BOX tokens will be deposited and withdrawn across the chain through the Hoo Exchange;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!
- 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.
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.
- 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!
Defibox Project Executive Team
January 11, 2022
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