[0IP-3] Adjusting protocol token rewards

Proposal

The core objective of 0IP3 is for the community to vote on the total amount of protocol token rewards in the next epoch.

There will be regular voting on the total amount of rewards distributed per epoch to keep the total supply in check once the protocol token launches as begun in OIP-1.

0IP-3 continues the participation of the 0VIX community in the decision-making of the pre-mining mechanics in the following epoch. This comprises of the following vote:

  • Lower the total amount of the protocol token paid out in the next epoch from 90k to 80k per epoch to keep token supply in check.

Motivation

Prior to the protocol token and veTokenomics launch, we want to continue inviting the community to participate in helping to make key decisions for the 0VIX Protocol, which will be managed with proposals and polls on Discourse. The motivation of 0IP3 is the following:

  • As to limit the dilution of the protocol token in the pre-mining campaign running up to the protocol token launch, which is getting closer, we propose a reduction to the total amount of Protocol Token rewards distributed across all markets.

Details

  • We propose to lower the amount of protocol tokens paid out in pre-mined rewards per epoch from 90K to 80K.

Quorum Standards

The options with the most votes will be adopted.

Voting period:

  • 2 days

Vote options

Vote a) Lower the amount of protocol tokens paid out from 90K to 80K.
  • Accept the proposal: YES
  • Further discussion needed

0 voters

3 Likes

For long term business, I accept the proposal.
Quality is more important. I think gradual growth will build a solid foundation. This allows the project to walk stably. :handshake:

2 Likes

Hi there,

I’m relatively new to the project and may be missing some parts, for example if i’m not wrong, I believe there is still no tokenomics defined for the project, plus I have not found which is the expected max $VIX supply, only that pre-mining APRs are calculated assuming a 0,3$ $VIX staring price.

I’m not against reducing the protocol tokens that are being paid-out per se, but it is hard to tell whether 100k, 90k, 80k or even 150k is too dilutive if you do not know how many tokens will there ever be.

As I said, I am relatively new, so if I am missing something, please let me know!

Hi @Bernie, thanks for your question. The full tokenomics have not been published yet; however, total (max) supply has already been mentioned – it is 200 million tokens. Please join our Discord (if you are not already there) and we will be able to help with any questions anytime :slight_smile:

1 Like