The Voting Result of DIP25

Dear users,

Hello! DIP25 has ended, and the voting result is now announced as follows:

Proposal content:

Lending mining reward set a reward pool for a group of selected tokens. Only tokens in the reward pool can enjoy lending mining reward. Utilization rate depends on market interest rate without interference of mining reward. The proportion of reward for lending protocol distributed between depositors and borrowers has 3 proposals below:

Option A: 50% for depositors, 50% for borrowers

Interpretation: We apply Compound lending model for reference, most balanced reward proportion. However, 50% reward for depositors will cause some waste of BOX in the situation where the token has no borrowing needs.

Option B: 25% for depositors, 75% for borrowers

Interpretation: Distribute majority of reward to borrowers for stimulating more borrowing needs. This stimulated borrowing need will push interest rate up, and with a up-surging interest rate, the system will attract more deposits. 25% reward for depositing motivation is a balance. If we gives major reward to depositors, we are not able to decide what tokens are needed in the lending market, and this will cause a waste of BOX. However, if we directly stimulate borrowing side, borrowers pay interest and get mining reward, in the end, the interest income will cover the mining reward. In the long-term, the lending protocol will support on its own with interest differential income. Stimulating borrowing side will enhance lending protocol development for the long run.

Option C: 0% for depositors, 100% for borrowers

Interpretation: Similar to Option B, the difference is that only borrowers have lending reward and it won’t cause any waste of BOX. Borrowing behavior is the income source of the lending protocol, This mechanism is more efficient but also more radical.

Defibox Lending Protocol is on public beta. According to Defibox White Paper, we are planning to start mining reward for lending. A proper proportion of mining reward incentive for depositors and borrowers will enhance the long-term development of lending protocol. We hope every BOX token holder can participate in DAO and work together for a better product.

Voting result:

• The proportion of the total votes of the proposal to the total BOX staking amount (abbreviation: proposal participation): 52.07%;
• The received votes of Option B (Option B: 25% for depositors, 75% for borrowers) accounted for  87.61% of the total votes of the proposal;

The DIP25 has met the execution conditions. The Defibox Foundation will implement the proposal in accordance with Option B (Option B: 25% for depositors, 75% for borrowers). For the specific launch time and more information, please follow the official announcement.

Defibox community:
Overseas: https://t.me/Defibox 
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Thank you for your support and attention to Defibox!
Defibox Foundation
April 6, 2021