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Adjustments to $RHINO

Voting ended almost 5 years agoSucceeded

The $RHINO experiment has shown some promising behaviors from the technology side, but it is not yet performing in the way expected.

Part of this is we made the ratio of existing $RHINO tokens to $PNDA tokens too aggressive to start.

It also doesn't have diverse liquidity as it is really only traded on Pandaswap right now.

In order to continue our experiment, here are some proposed changes that should get the tokenomic design of $RHINO working more favorably:

  • $PNDA and $RHINO pools on Pancakeswap to be added and incentivized for additional exposure.
  • We will exclude the burn address for the first two weeks, which can be extended by vote.
  • The community vault, founder address, and the swapper contract will be excluded from receiving reflexive rewards for at least the next two months.
  • We will reduce the liquidity in the 1:1 swap from 15B $RHINO to 0.5B $RHINO, allowing the free market to take hold after that.
  • The 14.5B liquidity will be moved to the community vault owned by $BAO holders, where it may sell into the market overtime to a max equivalent of 1.5% per week over the 2 month period, but it is not required to make any sales.

The community can then decide to reinstate or modify these parameters in the future via future governance votes, including adding more $RHINO to the swapper.

Right now, to see how $RHINO plays out when the 1:1 swapper runs out would take us more than year. This will accelerate that timeline to about one week.

Since our goal is to use BSC as a testing ground for these economic changes, accelerating this timeline helps us reach that vision.

This is an accelerated vote, as these changes are within the regular powers that the maintainer galaxy team has been granted during the PandaSwap launch, but the maintainer galaxy felt it was important to get community feedback and buy-in anyway.

Off-Chain Vote

Approve Changes
14.62B 100%
Deny Changes
3.77M 0%
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Timeline

Apr 29, 2021Proposal created
Apr 29, 2021Proposal vote started
May 02, 2021Proposal vote ended
Oct 26, 2023Proposal updated