Hello there,
Otto11 here and this are the newest developments with DefiBox.
Governance proposal content:
According to the content of the DIP21, if the proposal is passed by voting, the BOX token (about 5.8% of total BOX amount) originally given to Newdex as feedback will be taken back. Therefore, after full discussion in the community, the Defibox Foundation plans to launch a period saving system BSS (BOX Saving System), and use the taken-back BOX (release 7.5% simultaneously of the released amount) to reward users who lock BOX, encouraging regularly locking BOX, so that BOX taken back from Newdex can be fully used , and also can improve the price stability of BOX.
BSS: According to the different locking periods, multiple BOX period locking pools are set up, and corresponding to different locking reward weights.
Locking reward rules:
The BOX reward amount obtained per second for users who regularly locked = the total BOX reward amount per second in BSS × the proportion of your locked BOX amount to the total locked amount in BSS;
The total BOX reward amount per second in BSS = the total release amount per second of the entire site * 7.5%;
The proportion of your BOX locked amount to the total locked amount in BSS = your locked BOX amount × the locked reward weight ÷ ∑ (BOX locked amount in each period locking pool × the locking reward weight);
The period locking reward with real-time statistics and automatic accumulation can be claimed at any time.
Locking period and locking reward weight:
Option 1: 30-day locking period (1.0 locking reward weight), 90-day locking period (1.5 locking reward weight), 180-day locking period (2.5 locking reward weight), 360-day locking period (4.0 locking reward weight)
Option 2: 90-day locking period (1.0 locking reward weight), 180-day locking period (2.0 locking reward weight), 360-day locking period (4.0 locking reward weight)
Option 3: Do not launch BSS, and temporarily not use the taken-back BOX token
Voting result:
The proportion of the total votes of the proposal to the total BOX staking amount (abbreviation: proposal participation): 41.89%;
The received votes of Option B (Option 2: 90 days, 180 days, and 360 days) accounted for 74.67% of the total votes of the proposal;
The DIP22 proposal has met the execution conditions. The Defibox Foundation will set up a BSS period saving system in accordance with Option B (Option 2: 90 days, 180 days and 360 days). 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.