Hello! DIP23 has ended, and the voting result is now announced as follows:
The market-making EOS in the Swap contract is used for node voting, the votes are obtained by buying REX and the voting right is delegated to the TAG mining pool or the Newpool mining pool. The node revenue obtained from voting will be used as liquidity reward of EOS+USDT liquidity pool.
The rules of buying REX from Swap contract market-making fund:
1. Start buying REX for the first time with 10% of the total EOS in Swap contract;
2. Afterwards, 10% of the total EOS in the Swap contract will be used to buy REX at 02:00 (UTC) every 5 days;
3. When the entire network REX lease rate exceeds 85%, sell all REX in the Swap contract. When the lease rate falls below 75% again, buy REX again according to points 1 and 2 above.
The distribution rules of node voting revenue:
1. The system automatically claims the mining pool revenue and distributes the mining pool revenue to the liquidity provider according to the proportion of liquidity amount per second of each liquidity provider in EOS+USDT liquidity pool, and the liquidity provider can claim it at any time;
2. For the mining pool revenue claimed by the system, TAG is directly distributed to the liquidity provider (not automatically converted into EOS), and EOS is also directly distributed to the liquidity provider. The remaining tokens will not be distributed temporarily due to the small amount;
Special note: As REX in part of the liquidity capital EOS (max 10%) in the Swap contract is locked, in extreme cases, when the Swap liquidity providers withdraw a large amount of liquidity capital or trading users swap a large amount of EOS, there is a possibility that the liquidity funds cannot be fully withdrawn or successfully swapped. Through the data modeling of the DIP18, only 10% of EOS in Swap contract market-making funds is used to buy REX every 5 days, which is a relatively safe and reliable ratio, but there is still no guarantee that the above problems can be completely avoided. However, the probability has been greatly reduced.
At present, USN collateral has been officially added into the TAG mining pool. While assisting the TAG mining pool, it has successfully empowered the EOS+USN liquidity pool, which has greatly increased the depth of the liquidity pool. Therefore, Defibox Foundation officially initiated DIP 23 proposal based on the community’s suggestions. The EOS capital in Swap contract market-making was bought into REX in the same way to participate in node voting. On the one hand, it can improve the efficiency of capital application; on the other hand, it can empower the mining pool revenue to EOS +USDT liquidity pool. It can also promote the depth of the liquidity pool and help the healthy development of the Defibox system.
- The proportion of the total votes of the proposal to the total BOX staking amount (abbreviation: proposal participation): 43.46%;
- The received votes of Option A (Agree) accounted for 99.62% of the total votes of the proposal;
The DIP23 has met the execution conditions. The Defibox Foundation will implement the proposal in accordance with Option A (agreed). The development of related features involved in the proposal will begin immediately. For the specific launch time and more information, please follow the official announcement.
Thank you for your support and attention to Defibox!
December 18, 2020