Defibox Foundation Launches DIP24 Officially

Dear users,

Hello! In order to better respond to USN exchange rate fluctuations in a more timely manner, and a transparent mechanism can bring confidence to the market, the BOX community has proposed the concept "Automatic adjustment mechanism of annualized rate". Based on the above content, after full discussion in the community, the Defibox Foundation initiated the DIP24 officially. The voting time is from 11:00 (UTC) January 1, 2021 to 11:00 (UTC) January 3, 2021. The specific information is as follows:

Proposal content:

The specific rules of automatic adjustment mechanism for USN annualized rate are as follows:

Through the above mechanism, the USN stable coin will also be given the characteristics of algorithmic stable coin as staking stable coin, which will be a very meaningful innovation. When the USN exchange rate fluctuates, the automatic linear adjustment of USN annualized rate can strengthen the pegged status of USN exchange rate and continuously expand the USN supply scale.

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 ≥ 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.

Execution plan:

• 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 informations. Please follow the official announcement.

Additionally：

• 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 31, 2020