Hi there ,
Otto11 here and I hope you week has been super?
So to get right on to it ...
The Defibox team have been making plans to make some adjustments to the protocols that make up the Decentralized exchange.
The major protocols that I am referring to here are:
1). Swap
2). USN Stablecoin
3). Decentralized lending
(We'll talk much better about this protocols much later though)
As it's understood , what the protocols do is they determine the price of BOX token.
So in a better adjust the BOX token price and all the team made 4 initial proposals.
Proposal explanations:
1).
It will increase the returns of EOS+BOX market-making in liquidity pool and possibly improve the depth of EOS+BOX market-making liquidity pool. But the effect is limited, and it is not enough to stabilize or boost BOX price.
Giving BOX market-maker the same voting right is compliant with "Same right with same token", expanding BOX DAO autonomy community.
2).
Explanation: (1) It is a revolution aiming to solve the current problem. Only the EOS+BOX liquidity providers will get the protocol income. In this way, the depth of liquidity pool will be greatly improved, and based on "High income with high risks" principle, it is reasonable to increase to the return of market-makers. (2) Building a risk reserve fund will gradually increase the capability against risk and confidence of the community.
3).
Explanation: (1) Comparing to Proposal 1, this proposal gives a bigger incentive to EOS+BOX market-maker, will largely improve the depth of liquidity pool, but not as effective as it will be in Proposal 2. (2) at the same time, it gives incentives to long-term BOX holders who have confidence in Defibox. (3) Different locking terms face different risks. The longer term it is, the more objective a holder tends to be. Thus a heavier voting weight should be given.
4).
The Status Quo :
Explanation: (1) The facts tell us that this proposal is not able to support BOX price, nor can it provide a good support to BOX system; (2) The distribution of governance voting right is too limited, adverse to community autonomy.
So as it's clearly seen in the 4th proposal that the the decision are to with holders and stakers of BOX in mind and execution time and conditions are as follows
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 8 ends will be cancelled.
Execution plan:
If an option satisfies the execution conditions, it means that the vote is successful. The Defibox Foundation will adjust the BOX reward according this option. For the specific adjustment time and more information, please follow the official announcement.
Voting time descriptions:
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.
Final thought:
Since this are merely the first steps there are definitely gonna be more updates coming , which means it'll be too early to determine from what the proposals have said and to also note that in due time the market value of the governance token will be satisfactory at the end.