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closedEnded 4 years ago · Snapshot (Offchain)

JBP-87 - Update discount rate to 20%

By 0x28C1...C38337

Summary:

Update discount rate to 20%.

Abstract:

After the modification, 20% of all donated ETH will enter the vault, and less JBX tokens will be issued to donors.

Motivation:

I hope the Juicebox can lock the value of the platform for the community.

Unlimited additional issuance leads to the inability of JBX platform tokens to effectively reflect the value of the platform, thus not attracting more developers, communities and institutions to participate in platform governance.

When Juicebox has enough tokens circulating in the market, when the team has enough donated funds for development, it should change the operation direction, how to unite token holders to market together and attract more projects to be issued on the platform, so as to charge enough issuance fees to support the development of the platform!Only by providing more powerful distribution tools for the publisher can we really extract the platform value, and the publisher will be willing to pay for it!Juice box should not be concerned about whether someone donated, because it can charge more distribution fees。

Conclusion from member “James Aaron”: I think the platform has passed the stage of relying on donation and issuance, and should be transformed to charge issuance fees for development, similar to opensea.

Risks:

The platform closes donations and new members can only purchase JBX tokens through the market. Or receive tokens via airdrops.

The inflow of payments in ETH won’t be rewarded with JBX which can deter more donations to the reserve of the DAO.

This change cannot be reversed, unless protocol is changed.

Specification:

The platform should lock in the additional issuances to capture the value, and the market value discovery function should be activated.

Total locked value of Juicebox are now far exceeds the market value of the JBX, and there is a continuous donation window (actually no one donates, the current donation ratio is 1ETH: 117155JBX, and the transaction price is 1ETH: 420000JBX), which is a value inversion.

The value lock of the JBX platform is reflected by locking the unlimited additional issuance window.

Now JBX has raised 5823ETH worth more than 18 million US dollars (this exceeds the current market value of JBX tokens of 1500 US dollars), JBXDAO 180 million JBX tokens.