Defibox Foundation Launches DIP19 Officially – Defibox

Dear users,

Hello! According to the DIP18 voting result, USN collateral has been transferred into TAG mining pool node for voting in batches. The total liquidity revenue of EOS+USN liquidity pool consists of four parts, liquidity mining revenue + swap mining revenue + USN application mining revenue + TAG mining pool revenue. The high revenue of USN may cause the price unpegged to USD. Therefore, this proposal intends to stabilize the USN exchange rate by reducing the APY; the USN exchange rate has been successfully pegged to USD for two weeks, reducing the APY to further promote the supply of USN stable coin. Therefore, the Defibox Foundation officially launched the DIP19. The voting time is from 07:00 (UTC) December 5, 2020 to 07:00 (UTC) December 6, 2020. The specific information is as follows:

Governance proposal content:

Content: USN stable coin annualized rate adjustment, optional annualized rate: 12.0% , 13.0%, 14.0% and 15.0%(unchanged); if the proposal is passed.

Execution conditions:

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 ≥ 28.00% 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.

Execution plan:

If an option satisfies the execution conditions, which means that the voting is successful, the Defibox Foundation will adjust the USN stable coin annualized rate according to this option at 09:00 (UTC) on December 6, 2020.

Voting time description:

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.

Defibox community:
Overseas: https://t.me/Defibox
Chinese:

Thank you for your support and attention to Defibox!
Defibox Foundation
December 4, 2020