The Defibox Whitepaper V3.0 Is Published Officially

Dear users,

Hello! The BOX DAO No. 13 governance proposal has been voted successfully. The Defibox whitepaper has been revised according to the voting content, and the Defibox whitepaper version 3.0 will be officially released at 03:00 (UTC) on September 30, 2020.

Token issuance rules

The BOX token issuance plan: 70% of the BOX is used for DeFi protocol mining, 15% of the BOX is distributed to the Foundation, 7.5% of the BOX is distributed to the team as the incentive, and 7.5% of the BOX is distributed to Newdex as reward. The BOX distributed to the Foundation is released linearly with mining, and will be in circulation after released, which will be used for product development, operation and promotion, risk reserve, etc.; the BOX distributed to the team is released linearly with mining, and will be unlocked in 5 times after released, unlocking 1.5% of the total BOX each time. The first unlocking date is November 11, 2020, unlocking one time every six months.

Revenue distribution principle

BOX token adheres to the basic principle of same right with same token. Each BOX token enjoys the same rights and interests. Therefore, revenues generated by the Defibox protocol will be fairly distributed according to the BOX amount. The Defibox Foundation will participate in staking reward and voting governance with all BOX token holders, and no longer enjoy the priority right to distribute Defibox protocol revenue. The distribution method of all revenues generated by the Defibox protocol will be decided by BOX token holders through proposals and voting.

Revenue distribution method

The current distribution method of Defibox protocol revenue is as follows:

Swap 0.1% transaction amount distribution method: 100% is used for BOX staking reward;

USN interest distribution method: 100% is used for BOX staking reward;

USN liquidation penalty distribution method: 100% is used for BOX staking reward;

Decentralized lending fees distribution method: 100% is used for BOX staking reward;

For more details, please click to view: "Defibox Whitepaper V3.0"