Update veFXS boost to catch up with rising FXS price
With the rising FXS price it becomes ever harder to enable a full farming boost.
With the current FXS price at 5$ people are required to lock up 5$ value for 4 years in order to boost 2$ worth of LP. This asymmetrical ratio will only increase with further growth of the FXS price.
As this continues people will be less inclined to buy and/or lockup FXS (Risk/Reward is simply not worth it anymore).
My proposal is to adjust this ratio to decrease the current asymmetry.
I have sketched out a couple scenarios at the current FXS price of 5$:
3veFXS per 1 FRAX = 5$ locked up for 4 years boosts 2.66$ worth of LP.
2.5veFXS per 1 FRAX = 5$ locked up for 4 years boosts 3.2$ worth of LP.
2veFXS per 1 FRAX = 5$ locked up for 4 years boosts 4$ worth of LP.
We can eventually find a way for this to be automatically adjusted in accordance with the fluctuating FXS price.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x88E8...0e7a12 | 4.14M | 100% for Do nothing = 4veFXS per 1 FRAX |
 0x38F2...7cd141 | 657,591 | 100% for Change to 2 veFXS per 1 FRAX |
 0xA81a...757538 | 401,005 | 100% for Change to 2 veFXS per 1 FRAX |
 0x8df9...144385 | 393,493 | 100% for Do nothing = 4veFXS per 1 FRAX |
 0x9de9...E39900 | 331,217 | 100% for Do nothing = 4veFXS per 1 FRAX |
VOTE POWER
Proposal Status
- Fri September 17 2021, 11:30 amVoting Period Starts
- Fri September 24 2021, 11:30 amEnd Voting Period
Current Results
1-Do nothing = 4veFXS per 1 FRAX
5.293M
2-Change to 2 veFXS per 1 FRAX
1.696M
3-Change to 3veFXS per 1 FRAX
1,521.723