Hello! With the vision of prospering the EOS ecosystem and combining the feedback from community users, the Defibox Foundation officially initiates the DIP18. The voting time is from 10:00 (UTC) November 28, 2020 to 10:00 (UTC) November 30, 2020. The specific information is as follows :
The EOS staked in the USN contract will help TAG mining pool node to vote, obtain votes by buying REX, and delegate voting rights to the TAG mining pool. The node revenue obtained from voting will be used as liquidity reward for the EOS+USN liquidity pool.
Buying REX by USN collateral rules:
1. Start buying REX for the first time by 20% of the total amount of USN collateral;
2. Afterwards, 10% of the total amount of USN collateral will be used to buy REX at 02:00 (UTC) every 5 days;
3. When REX leasing rate in the entire network exceeds 85%, sell all REX in the USN contract. When the leasing rate falls below 75% again, buy REX again according to the above plan 1 and plan 2.
Node voting revenue distribution rules:
1. The system automatically claims TAG mining pool reward every hour and distributes TAG mining pool reward to liquidity provider according to the proportion of the average liquidity amount in the EOS+USN liquidity pool in the past hour, and liquidity provider can claim them at any time ；
2. The TAG mining pool revenue received by the system will be directly distributed to liquidity provider in accordance with the above rules, and it will not be automatically converted into EOS. The remaining tokens will be automatically converted into EOS and distributed to liquidity provider in accordance with the above rules.
The starting point of this proposal: Help TAG mining pool to jointly prosper the EOS ecosystem, which can not only improve the fund efficiency of USN collateral, but also further promote the stability of USN price.
Note: As REX in part of the collateral (max 10%) in the USN contract is locked, under the extreme black swan market, when a large liquidation amount of USN occurs or users withdraw collaterals together within a short time, there is a possibility that it can not be completely liquidated or it is failed to withdraw all the collaterals. For this reason, we use data modeling to buy REX by only 10% of the total amount of USN collateral every 5 days. This is a relatively safe and reliable ratio, but there is still no guarantee that the above problems can be completely avoided. However, the probability of problems has been greatly reduced.
The Defibox Foundation and the community are very happy about the achievements of TAG mining pool, and are honored to be able to help the prosperity of the EOS ecosystem with every partner. Let's prosper the EOS ecosystem together.
- The total votes of the proposal must account for ≥ 30% of the total BOX staking amount; (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 an option satisfies the execution conditions, it means that the vote is successful. The Defibox Foundation will start product development according to the option. For information about the specific launch time and more detailed reward distribution rules. 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!
November 17, 2020
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