Hello! Due to the obvious imbalance in the bilateral quantity of the Balance USN-USDT market-making pool recently, for the sustainable development of Balance, at 17:00 on January 13, 2023 (SGT), the "magnification factor" will be adjusted from 200 to 150. The adjustment mechanism is: gradually adjust the "magnification factor" by second, and the effective time is 24H. Therefore, the adjustment of the "magnification factor" will be completed at 17:00 (SGT) on January 14, 2023. The adjustment idea is as follows:
After adjusting the "magnification factor" from 200 to 150, the swap price of USN will be close to 0.98 USDT. If the user continues to swap USN to USDT in the Balance pool, the exchange rate of USN will be lower than 0.98 USDT, triggering the automatic adjustment of the USN rate Mechanism, the USN annualized fee rate will be increased, prompting users to buy USN for repayment, so as to promote the bilateral quantity of the Balance USN-USDT market-making pool to tend to balance.
In the future, according to the bilateral quantity of the Balance USN-USDT market-making pool, the "Magnification factor" will be adjusted appropriately and an announcement will be made. Please pay more attention to the official news. We are sorry for the inconvenience.
Thank you for your support and attention to Defibox
Defibox Project Executive Team
January 13, 2023
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