closedEnded 4 years ago · Snapshot (Offchain)
Proposal: Increase Vortex Burn to 100% for V2.1 & 30% for V3
By 0xc268...222060Continue Reading
This proposal is expected to appear on Snapshot for voting on June 26, 2022 (Lisbon). This proposal is to increase the vortex burn to 100% on version 2.1 This should be ramped up from the current 15% to 100% over 2 weeks. The schedule will be 40% burn rate immediately, 70% after 1 week, and move to 100% after 2 weeks. Next, increase the vortex burn to 30% on version 3. This should be done immediately.
Reasoning:
- LPs earning fees is of lower importance right now, but volatility is high and this represents a shared opportunity for the protocol and users.
- There are no fees if Bancor doesn’t survive.
- Burning more vBNT counters inflationary risk. We need this now.
- Using the vortex to market buy BNT is good for ALL Bancor users.
- This action may help to restore user confidence.
- This may help counter the coordinated shorts against BNT.
We can collect and analyze data from the vortex increases and adjust if needed. Voting in favor of this proposal means the vortex fee will return to 15% upon ILP reactivation.
Vote FOR to increase the vortex to 100% while ILP is not active
Vote AGAINST to do nothing
Connect Wallet to Add Note
0Votes 52
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0xc32E...35cC22 | 2M | Abstain |
 0x157D...5c064B | 1.774M | For |
 0x690f...E8563a | 1.232M | For |
 0x9326...aC7Ed9 | 589,950 | For |
 0x91c0...be70c6 | 381,309 | For |
VOTE POWER
0
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Proposal Status
- Sun June 26 2022, 03:15 pmVoting Period Starts
- Wed June 29 2022, 06:15 pmEnd Voting Period
Current Results
1-For
5.421M
2-Abstain
2M
3-Against
0.001