DeFiCh / dfips

DeFiChain Improvement Proposals (DFIP) & Community Fund Proposals (CFP)
https://defichain.com
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Special DFIP: Strengthen Buy-and-Burn Bot with more Rewards #270

Closed Graciaho closed 1 year ago

Graciaho commented 1 year ago

DFIP Overview

  1. Requester(s): u/Phigo90
  2. Reddit discussion thread (optional): https://www.reddit.com/r/defiblockchain/comments/11jxghq/special_dfip_strengthen_buyandburn_bot_with_more/

Describe your proposal

The current normal voting round runs until 19.04. To already strengthen the Buy-and-Burn Bot (BBB) pretty fast, we had the idea to upload a special DFIP to ask Masternodes to approve the following DFIPs:

use 50% dToken rewards for BBB:

https://defiscan.live/governance/93cae38255429ba07c93fdb08bac0071a4abbace54313213817cf227dfd188ff

use 10% crypto rewards for BBB, they do not count for NI

https://defiscan.live/governance/3eb5df9c0b3ff97e7d2cdddb22523845b35c87e19b20e01a4e08c48a34b03141

move LTC, BCH, DOGE rewards (whats left after move to EUROC if approved with https://defiscan.live/governance/23fcfd9a7d6f9ccce544f37d0dab6ed81fe81592776b992b75099cd29da87acf ) to BBB

https://defiscan.live/governance/293f216ae68fa2556395973917eac20909493e5de95dc75098fa1e81c8defeb6

https://defiscan.live/governance/a885d472678cc7a39d012401d994a0f2d28c32bcdb774f87a9596deda6b532df

https://defiscan.live/governance/854dfe1b2093c3c09b2fce2f4c5b9bf306b26f341804db988942dee9aebc34e8

If you want to approve ALL DFIPs, pls vote with a "yes". If you do not want to approve ALL DFIPs, pls vote with a "no". In order to finally get the 5000 DFI, we suggest to do a crowdfunding.

Details:

If we reach the goal of 5000 DFI, the DFIP will be uploaded as a SPECIAL DFIP. If we do not reach the goal of 5000 DFI, the DFI will go back! If we are getting more than 5000 DFI, the difference will be swapped to dUSD and send to the burning address. It will end at: https://defiscan.live/blocks/countdown/2742000

Address for the crowdfunding: dLqDh88L29zQvUt84cnh5zABbKh6zjSq5H

Screenshot 2023-03-10 at 1 59 08 PM

Owner of the address: u/mrgauel. He already did that for the EUROC on defichain DFIP. I do not have any access to the mentioned address. Just Andreas knows the private key! He will confirm that the address is correct and he is the owner!

Disclaimer: To be honest, I don't know what will happen with the already uploaded DFIPs. It might be possible that parts of the special DFIP can be again rejected in the normal voting round. However, to clarify that point, we have to wait for some feedback from u/uzyn or Prasanna.

How does this DFIP benefit the DeFiChain community?

SUMMARY

Andreas DFIP (1): (50% will be burned, 50% will be payed out for negative interests) additional 50% of the dUSD-DFI Pool (2.99 DFI / Block) 50% of dUSDC-dUSD and dUSDT-dUSD Pools (3.99 DFI / Block) 50% of dToken-dUSD Pools (12.975 DFI / Block)

Philipp DFIP (2): (100% will be burned, no payout for negative interests) 10% of all crypto pool rewards (excluding the dUSD-DFI pool --> already considered in DFIP 1); excluding the BCH-DFI/LTC-DFI/DOGE-DFI --> already considered in DFIP 3-5) to the BBB

Bernd's DFIPs (3-5): (100% will be burned, no payout for negative interests) Removing the Rewards for the following pools: BCH, LTC, DOGE and send them to the BBB

Crypto pool reward distribution: Now vs Approved

Screenshot 2023-03-10 at 1 53 38 PM

Non-obligation

I understand that vote of confidence for DFIP carries no obligations by any developers to implement the proposals. DeFiChain is a community projects. Pull requests can be submitted by community and reserved to be evaluated for safety and general community acceptance.