The Defibox lending and mining incentive have been running for more than one year. The scheme of the deposit and borrow mining incentive ratio determined by the DIP26 (25% on the deposit and 75% on the borrow) has made the lending protocol a steadily initial development stage; the current lending protocol has entered the period of rapid development. The adjustment of various parameters requires rapid response to adapt to the rapid changes in the market. A more flexible solution is needed to better stimulate the scale of lending and give better play to the incentive value of each BOX. Therefore, The DefiboxDAO officially launches the DIP43, the details are as following:
The current lending and mining incentive mechanism sets up incentive pools based on tokens. If the ratio of mining incentives on the deposit and borrow can be more flexible, then more effective incentives can be achieved for the lending market. Therefore, the ratio of mining incentives on the deposit and borrow can be more effective, the proposed proposal is as follows:
Cancel the fixed ratio restriction, and give the mining ratio of the deposit and borrow according to the actual situation of different lending market scales
Interpretation: The ratio for deposit side with 25% and borrow side with 75% is for encouraging borrow side. With a encouraged borrowing, the interest rate will increase and this attracts deposit and bring a rapid growth for lending market. However, according to our empirical study, we found 25% for deposit and 75% for borrow is not giving enough incentive for certain lending market, we need a more flexible mining ratio for lending.
In addition, Defibox's new BSS has been launched. It is planned to use the lending platform to effectively complement the BSS. With a more flexible mining ratio for lending, it will not only boost lending market for the long term development, but also empower the entire Defibox platform.
Mining ratio will have direct effect on lending market, DefiboxDAO hope every BOX token holder to participate Defibox governance, working together for a better product!
- 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
April 24, 2022