DFIP-2208-B: Move further rewards from DUSD-DFI to USDT-DUSD / USDC-DUSD Pools #201
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ghost
added
kynkong91
changed the title
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During your vote please consider that a smaller DUSD-DFI pool also brings some negative effects which should not be overlocked:
As one of the bigger whales and traders, I think that the big pool size of the DUSD-DFI pool was never a problem. There would be more than enough traders on the Defichain to move the price of the DUSD-DFI pool extremely fast, no matter the size of the pool. The only problem is that nobody will do this if the peg of the DUSD can not be trusted, which is mainly caused by surplus of DUSD. This means our main goals should be to make the dToken system more attractive and to focus on the burning/lockup of our current DUSD surplus. In my opinion, these goals can not be reached with bigger DUSD-USDT/USDC pools. I think the fastest way to get rid of the DUSD is with a DFI pump to 2-3$, a huge DUSD-DFI pool and a burn fee of 30%. This would lead to the biggest burns and the most locked up DUSD inside the DUSD-DFI pool. P.S.: A DFIP for redistribution of pool rewards costs 500 DFI. Why does this not apply to this DFIP? (Why should there be an exception for dTokens) |
Yeah that is a good question. It'd be nice to have a comment before voting starts so pinging @kynkong91 @uzyn Thanks! |
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Thanks for the clarifying question. The clause stating "500 DFI for reallocation of block rewards" pertains only to block level reward allocation. This specific DFIP-2208-B only affects reallocation within already allocated rewards. For example if today, someone wants to change the amount of allocation DFI-per-block for community fund, then yes, that would fall under reallocation of block rewards, and would therefore require 500 DFI. Hope this clarifies. |
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signmessage 8X9mSBVoeFfsk7XyAJmYCGu4SgrQzMj7Ud “dfip-2208-b-neutral“ signmessage 8K5EUbUbdpRWH1Tx1tTSpJgXs1x8Bck5vN “dfip-2208-b-neutral“ signmessage 8SQaHvzkrHik3o9vwF1MdKf2LkdgcicNTD “dfip-2208-b-neutral“ signmessage 8cfqCfRmN697jMavNmgbJH61tRXNhBXCiM “dfip-2208-b-neutral“ signmessage 8c3Rdmz1hCSvvSRittYUYQtQQLurX8dzzQ “dfip-2208-b-neutral“ signmessage 8F8fVhgSHs71NUFvEmhVeYatzayo6YQ1Zw “dfip-2208-b-neutral“ signmessage 8WnUuKZ7U55HNxmnwZMwzJHggRSy1ZKUKs “dfip-2208-b-neutral“ signmessage 8XFTnhwwbyM3MA7jLosmiupJfzKvuC8XM8 “dfip-2208-b-neutral“ signmessage 8LiEQLQCLkv2eTcQ5vmMWszMCXEYBk9GK3 “dfip-2208-b-neutral“ signmessage 8YfZo7Qow2G6aZFWAzEoWAvxufA7AyYb4i “dfip-2208-b-neutral“ |
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Votes of the DFX Community Individual votes can be viewed transparently here: Votes: |
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mnstate_validate.log |
and others
DFIP Overview
This proposal: https://www.reddit.com/r/defiblockchain/comments/wsdjjy/dfip_move_further_rewards_from_dusddfi_to/
Based on:
https://www.reddit.com/r/defiblockchain/comments/vlsgxx/dfip_introducing_usdtdusd_and_usdcdusd_for_a/
https://www.reddit.com/r/defiblockchain/comments/wjaonw/one_more_idea_dryout_the_dusddfi_pool/
Describe your proposal
As a follow-up to DFIP-2207-B, i propose to move more rewards from the DUSD-DFI to the USDT-DUSD / USDC-DUSD pools.
The final reward distribution of DFIP-2207-B is:
10% for USDT-DUSD (7,5 % at the time of writing)
10% for USDC-DUSD (7,5 % at the time of writing)
30% for DUSD-DFI (35 % at the time of writing)
I propose to extend DFIP-2207-B to these final distribution:
15% for USDT-DUSD
15% for USDC-DUSD
20% for DUSD-DFI
with a weekly adjustment of 1,5% every friday at about 12:00 UTC
After the final distribution is achieved, further evaluation of the reward distribution should be done.
How does this DFIP benefit the DeFiChain community?
DUSD DEX prices at the time of writing:
DUSD in DFI: 0.8194 DFI (DFI: 0.8055 USD) => 0,66 USD
DUSD in USDT: 0.8206
DUSD in USDC: 0.7911
These prices shows that the assumption of DFIP-2207-B was correct, but can be further improved for a long time stabilization of the DUSD Price by helping to shrink the DUSD-DFI Pool
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.
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