Greetings! It has been more than a year since the establishment of the BSS by DIP22 , 500,000+ BOX have been locked, which has played an important role in the stability of the BOX price. However the weight adjustment of deflation will lead to a decrease APY of the BSS. It causes an negative impact for long-term BSS users. Considering the possible income and the improvement for the BSS, DAO members Dalio, Denis, team members Raven has initiated relevant proposals in the community. After the board has fully discussed and voted for approval, the DIP42 proposal is now officially launched: Regarding the upgrade plan of the BSS, the voting time is from 17:00 on February 18, 2022 (SGT) to 17:00 on February 21, 2021 (SGT), the specific information is as follows:
Based on the latest BOX tokenomics and protocol revenue model, combined with community opinions, DefiboxDAO officially launched the DIP42 proposal:
- 7.5% of the revenue of Defibox (EOS chain) (including but not limited to: token release, three major protocol revenue, node revenue, etc.) will be empowered to the BSS system to improve the overall revenue of the BSS system.
- Upgrade the BSS system and add the BSS reinvestment function;
- Adjust the three lock-up periods in the current BSS system to two, and cancel the 180-day lock-up period;
Regarding the adjustment of BSS revenue:
- The total number of BOX rewards per second in the regular deposit system = the total amount of Defibox released per second in the whole station * 7.5% (remaining unchanged)
- Add 7.5% of the protocol revenue value to empower the BSS, which will be used for purchasing BOX and redistributing to BSS. Among them, 5% comes from the revenue of automatic market making, and 2.5% comes from the basic maintenance and development expenditure of the team;
Note: If the proposal is passed, Defibox's protocol revenue distribution will be adjusted to:
45% is used for automatic market making of EOS+BOX, 27.5% is used as the income of the executive team, 10% is used for the risk reserves, 10% is for Newdex for their early funding and support, and 7.5% is used for the reward of BSS.
- Add 7.5% of the node income value to empower the BSS, which will be used for purchasing BOX and redistributing to BSS. 7.5% comes from the node income of the community part.
Lock-up period and lock-up reward weight:
Cancel the 180-day lock-up period, retain the 90-day lock-up period (1.0 reward weight) and 360-day lock-up period (4.0 reward weight)
Add BSS functions:
Add BSS reinvestment function to further increase earnings.
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;
- The Foundation will start execution after the vote is successful;
- 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
February 17, 2022