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- BOX tokens will be deposited and withdrawn across the chain through the Hoo Exchange;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
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