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BeefyBeefyby0xa7C7202345B8b78251c4215d5E2161CE35DdFE3F0xa7C7…FE3F

Upgrade BIFI Maxi/Earnings Pool

Voting ended about 3 years agoSucceeded

Since the launch of Beefy, the protocol earnings distribution to BIFI Maxi and BIFI Earnings Pool has not been changed or upgraded.

While this is not an issue, and it just works perfectly, we as a community should improve and evolve to favour long-term BIFI holders by implementing a lockup feature, where the longer you stake, the bigger weight of rewards (distributed beefy income) you receive. There are currently a lot of DeFi projects who adopted this method and technologically it is not something unique anymore.

For simplicity, we can use CAKE fixed term lockup as an example, where you can lock your coin for up to 52 weeks and receive bigger percentage of the rewards the longer you lock for. If the community favours this change, any technical details such as the max lockup period or the weight of percentage/curve or any other technical details should be worked out on community Discord and a final proposal would be put out to implement the change.

Off-Chain Vote

Yes, lets introduce lockup
673.9 BIFI8.1%
No, everything is just fine
7.68K BIFI91.9%
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Timeline

Nov 25, 2022Proposal created
Nov 25, 2022Proposal vote started
Dec 02, 2022Proposal vote ended
Oct 26, 2023Proposal updated