Hello! The market audit fee account (audmkt.defi) is a special account for security audit and marketing. Due to the low token price and recent market promotion cost, there is not enough funds for the security audit of the vault protocol. This protocol is expected to attract millions of EOS TVL, which can bring a lot of Yield+ rewards, fee income, voting resource and other benefits. Defibox has always adhered to the principle of "safety first". Before the Vault Protocol (Vault.defi) launch, it will be audited by a well-known security audit company, and the audit fee is estimated to be 24,000 USDT. In order to proceed audit work and ensure that the vault protocol launch on time, the board decide:
Stake 30,000 EOS from the risk reserve account (reserve.defi), generate 12,000 USN and swap to 12,000 USDT through Balance, and withdraw 12,000 USDT from risk reserve, sum in total of 24,000 USDT as the audit fee. When the market audit fee account (audmkt.defi) accumulate enough BOX, sell or trade it as 24,000 USDT repayment.
Note: The USN rate is 1% for a long time, which is negligible; the staking ratio and the EOS liquidation price are in safe range, and the debt position is safe; the disadvantage is that there is a very small risk of liquidation.
Thank you for your support and attention to Defibox!
November 1, 2022