🇺🇸3rd DeFiChain Improvement Proposal: Keep Liquidity Mining Rewards at 100 DFI / Block?
Shortly after launching the Decentralized Exchange in November 2020, the Liquidity Mining Rewards were increased to 100 DFI / Block in order to get the ball rolling and accelerate growth.
With over $68 Million Total Value Locked (TVL) after just one month, it’s clear to see that it was a successful launch.
These incentive rewards are currently being funded through what was decided in DFIP 2, whereby the community agreed to set aside 25% of staking rewards for the upcoming liquidity mining.
That fund will be able to run for approximately three more weeks, before the rewards settle back to the regular 45 DFI / block.
In order to sustain the current incentive rewards of 100 DFI / Block for longer, additional funds will have to come from the airdrop wallet.
And with the recent increase in ETH’s market cap, the ratio of rewards would have to be adjusted from:
- BTC-DFI: 85%
- ETH-DFI: 10%
- USDT-DFI: 5%
- BTC-DFI: 80%
- ETH-DFI: 15%
- USDT-DFI: 5%
Upon approval, this proposal will be implemented during the next hard fork.
Important Information regarding the proposal
With the DeFiChain Foundation running no masternodes themselves, the outcome of this proposal is entirely in the hands of the community.
We do hope however, that you accept this proposal in order to further incentivize growth of the Decentralized Exchange and DeFiChain in general.
Voting for DFIP 3 will commence today, on 7 January 2021 at 20:00 SGT, and end on 11 January 2021, at 20:00 SGT.
Before making your decision, we encourage you to discuss your thoughts on this proposal on Telegram and GitHub with the wider community. We would love to hear your feedback, or questions and concerns you might have.
As to how the voting will take place: you will receive an email from us soon, explaining how you can cast your vote, whether you are running your own masternode or staking on a platform like Cake.
We welcome any feedback and look forward to hearing your opinion!